Current portal location

Website content

Countries and regions

Australia

Australia

The EU and Australia are like-minded partners who share many common concerns in today's international trade environment, such as initiative to further liberalise trade in green goods, trade in services, and others.

The EU and Australia conduct their trade and economic relations under the EU-Australia Partnership Framework of October 2008. This aims, apart from cooperation on the multilateral trade system and trade in services and investment issues, to facilitate trade in industrial products between the EU and Australia by reducing technical barriers, including conformity assessment procedures.

Better Regulation Agenda

Impact assessment for the future EU-Australia Free Trade Agreement

Inception Impact Assessments

Trade picture

  • Australia is an important economic and trading partner for the EU. In 2015, it ranked as the 20th largest trade in goods partner of the EU while the EU represented Australia's third largest trading partner after China and Japan.
  • Total trade in goods amounted to €41.21bn in 2015 (EU import €9.57bn, EU exports €31.64bn). Traditionally, Australia's exports to the EU are dominated by mineral commodities (fuels and mining products) and agricultural products while EU's exports to Australia are predominantly manufactured goods
  • Total trade in commercial services between EU and Australia in 2014 amounted to €26.43bn and represented more than 1/3 of the total trade.
  • • EU foreign direct investment stock in Australia amounted to €115.3bn, while Australian investment stock in the EU was €26.4bn.

EU-Australia "trade in goods" statistics

Trade in goods 2013-2015, € billions
Year EU imports EU exports Balance
2013 10.2 32.1 21.9
2014 9.2 29.6 20.4
2015 9.6 31.7 22.1

EU-Australia "trade in services" statistics

Trade in services 2012-2014, € billions
Year EU imports EU exports Balance
2012 8.6 18.8 10.2
2013 8.2 19.1 10.9
2014 7.8 18.6 10.8

Foreign direct investment

Foreign direct investment 2014, € billions
Year Inward stocks Outward stocks Balance
2014 26.4 115.3 88.9

Date of retrieval: 14/04/2016

More statistics on Australia

EU and Australia

The EU and Australia concluded the negotiations for a political Framework Agreement which contains a number of economic and trade cooperation provisions.

The annual senior official level Trade Policy Dialogue meet regularly to exchange views on the bilateral trade relations.

An agreement on mutual recognition is in force between the EU and Australia to facilitate trade in industrial products between the EU and Australia by reducing technical barriers, including assessment procedures. This covers mutual recognition of conformity assessment procedures, with the objective of reducing the costs of testing and certification of products exported to and imported from Australia.

The leaders of the EU and Australia, in their meeting on 15 November 2015, agreed to commence work toward the launch of negotiations for a Free Trade Agreement.

More information:

Trading with Australia