Economy of Australia
|
GDP (trillion USD – 2020)
|
1,36
|
Inflation Rate (%)
|
3
|
|
Real GDP Growth Rate (%)
(Sep.2020-Sep.2021)
|
3,9
|
Unemployment Rate (%)
(December 2021)
|
4.2
|
|
Population (million)
|
25,7
|
Exports (fob-billion USD -2021)
|
342
|
|
Population Growth Rate (%) (June 2020-June 2021)
|
0,2
|
Imports (fob-billion USD -2021)
|
247
|
|
GDP Per Capita (USD)
|
53.000
|
Current Account Balance (billion USD – as of Sep. 2021) 2021 Eylül itibarıyla)
|
23,9
|
Reference: Australian Bureau of Statistics
Main Trade Partners: China, Japan, USA, South Korea, UK, India
Main Export Items: Metal ore, coal, natural gas, mineral fuels, oil, pearl, meat, grain
Main Import Items: Machine, mineral fuels, oil, vehicles, electrical and electronic products
Bilateral Economic and Commercial Relations:
|
YEARS
|
EXPORT
|
IMPORT
|
VOLUME
|
BALANCE
|
|
2017
|
562.676
|
2.226.215
|
1.663.539
|
-1.663.539
|
|
2018
|
704.085
|
1.073.871
|
1.777.957
|
-369.786
|
|
2019
|
661.146
|
1.034.272
|
1.695.418
|
-373.126
|
|
2020
|
726.850
|
406.698
|
1.133.548
|
320.153
|
|
2021
|
973.063
|
1.123.183
|
2.096.246
|
-150.121
|
Reference: TÜİK (thousand (000)- USD)
Main Export Items of Türkiye: Grape, hazelnut, apricot, diesel/half diesel vehicles, white appliances
Main Import Items of Türkiye: Gold,coal, medicines, cattle, buckwheat
The Joint Economic Commission’s last meeting between Türkiye and Australia was held on 23 February 2009 in Canberra.
On the occasion of the “Australia-Türkiye Round Table Meeting”, which was held on 21 February 2014 by Australia Industry Group (AIG) and Foreign Economic Relations Board of Türkiye (DEİK), a Memorandum of Understanding was signed between AIG, TOBB and DEİK in order to establish a Business Council.
According to the data of the Ministry of Industry and Technology of the Republic of Türkiye, the foreign direct investment (FDI) of Australia in Türkiye is 700 million USD and there are 248 Australian-owned companied operating in our country. Türkiye’s FDI in Australia was recorded as 18 million USD according to the data of the Department of Foreign Affairs and Trade of Australia.
Turkish citizens resident in Australia, majority of whom have dual citizenship, have investments in various areas such as food, construction, textile, communication technology, wholesale and retail sale, dyeing, communication services, restaurants, auto mechanic and taxi driving. The number of such small and medium sized Turkish enterprises in Australia is approximately 4.000.
The number of visitors from Australia has decreased in recent years due to pandemic. While number of visitors from Australia was more than 120.000 in 2019, this number has decreased to 15.109 in 2020. In 2021,15.674 Australian tourists visited Türkiye.