Australia and China at 40 by Reilly James;Yuan Jingdong;

Author:Reilly, James;Yuan, Jingdong;
Language: eng
Format: epub
Publisher: University of New South Wales Press

SOURCE China Yearbook of Customs Statistics, 2000–09.

The Chinese steel industry has depended on recurring imports of Australian iron ore. In 2009, according to Chinese Customs, China imported 628 million tonnes of iron ore in total, out of which 262 million tonnes came from Australia and 142 million tonnes from Brazil, accounting for 42 per cent and 22 per cent respectively. In 2010, China imported 618.63 million tonnes of iron ore from across the world. Meanwhile, Chinese iron ore imports from Australia reached 265.33 million tonnes, up slightly more than the year before, suggesting that as a percentage of China’s total imports of iron ore, iron ore from Australia increased slightly to 43 per cent. And in the same year, Chinese imports of iron ore represented 63 per cent or so of consumed iron ore.

Australian iron ore exports to China have a vital place in its total iron ore exports. The report of Australia’s Department of Foreign Affairs and Trade presciently articulated the situation as follows: Australia is the world’s largest exporter of iron ore. In 2009, it accounted for around 40 per cent of world iron ore exports.6 The majority of Australian iron ore exports are from Western Australia (97.0 per cent). China was Australia’s largest market for iron ore, accounting for 72.4 per cent or $21.7 billion in 2009 (and has been number one since 2004). Export values have increased by an average 41.8 per cent per annum since 1999, while export volumes have increased by 25.7 per cent on average.

Coal was Australia’s second-largest commodity exported to China in 2009 and 2010. According to Chinese statistics, in 2009, China imported a total of 130 million tonnes of coal, of which 43.95 million tonnes came from Australia. In comparison with imported coal from Australia in 2008, the year after saw a surge of more than 11-fold. According to Australian statistics, its coal trade with China from 2006 to 2010 is respectively A$598 million, A$382 million, A$508 million, A$5650 million and A$5191 million.7 Thus, the value of coal exported in 2009 represented an increase of more than 11 times over the 2008 value.

Figure 6.3

CHINA’S IRON ORE IMPORTS FROM AUSTRALIA, 1993–2009

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