Ports Australia has released its State of Trade report, demonstrating the critical role Australian ports play in Australia’s economic security and workforce.
Ports Australia’s inaugural State of Trade report reveals the crucial economic role of Australian ports, supporting nearly 700,000 jobs and contributing $264 billion to the economy. The report highlights that Australian ports handle 99% of the nation’s international trade by volume, managing $650 billion worth of trade annually. Iron Ore is the largest export by volume, representing 36% of total exports, far surpassing Coal (14%) and Agriculture and Food (13%).
Key findings
- Australian ports are responsible for a staggering 99% of Australia’s international trade and ensure the flow of $650 billion worth of goods and commodities annually.
- New data shows nearly 700,000 jobs across Australia are facilitated through the work of ports, contributing around $264 billion to the economy.
- Australian ports see 31,000 vessels each year, moving 1.6 billion tonnes of trade and 1.25 million cruise passengers.
The report emphasizes the ports’ importance in various sectors, including mining, energy, construction, and tourism. For example, mining accounts for 64% of Australia’s export value, while ports facilitate the import of 7 million containers annually, including critical building materials and machinery. Additionally, ports see 1.25 million cruise passengers each year.
Mike Gallacher, CEO of Ports Australia, stressed the significance of ports as the backbone of the nation’s economy and global connectivity. He highlighted that the report provides a comprehensive understanding of trade flows, economic impacts, and the ports’ critical role in various industries. Gallacher also emphasized the importance of regional cooperation with Oceania’s ports to build resilience and address shared challenges.
