WA exports increase dramatically

In 2010-11, the value of Western Australian exports rose 32.7 per cent to A$117.6 billion, according to the Australian Department of Foreign Affairs and Trade (DFAT).

Export volumes rose 1.1 per cent while export prices increased 29.4 per cent.

Iron ore exports grew by nearly 70 per cent and accounted for over half of WA’s merchandise exports. Exports of crude petroleum, natural gas, nickel ores and precious metal ores (excluding gold) also grew strongly.

Services exports rose 1.3 per cent to A$5.4 billion.

WA’s share of Australia’s exports grew to 40 per cent, up from 35 per cent the previous year – far exceeding the state’s 10.4 per cent share of the nation’s population.

According to the January 2012 economic profile from the WA Department of State Development, exports of goods and services accounted for 55% of Western Australia’s Gross State Product (GSP) in 2010-11.

WA enjoys the highest Gross State Product in the country at A$93,593, which is 50 per cent higher than the national average of A$62,424. The DFAT publication indicates WA accounted for 15.5 per cent of the nation’s GSP last financial year.

Overall, the value of Australia's exports rose 17.3 per cent in 2010-11. The DFAT press release notes that price was the main driver as volumes remained steady.

The figures were published on 24 January 2012 in the Australian Department of Foreign Affairs and Trade’s latest annual statistical guide. The analyses and tables from the publication are available without charge on the Department of Foreign Affairs and Trade website.