Brisbane sustains financial year trade growth

Export growth was fuelled by sustained increased global demand for agricultural commodities, particularly cotton (up 22.6%), cereals (up 15%) and beef (up 4.1%), while refined oil (up 12.6%) also experienced solid growth compared to the previous financial year.

Import growth was again driven by Queensland’s demand for motor vehicles, with car imports up 11.8% for the financial year. Demand for building products (up 4.6%) and retail commodities (up 4.6%) was supported by continued strength in the Australian dollar and signs of growth in domestic consumer confidence.

Traditional export destinations such as China, Taiwan, Japan, Taiwan and Singapore continued to dominate with demand for agricultural seeds, beef, cotton, coal and refined oil products. Beef exports to China, in particular, increased significantly as Chinese demand for this commodity exceeded that of South Korea.