Australia’s trade with China has jumped in the past year to record levels, as relations between the two countries recovered from a damaging dispute sparked by the Covid-19 pandemic despite wider security tensions in the region.
Total trade with China reached A$219bn (US$145bn) in 2023, the highest-ever level and up from A$168bn in 2019, the last year before the outbreak of the pandemic and imposition of Chinese tariffs and sanctions, according to official data from the Australian government.
The importance of the trade ties was on clear display this weekend, as Chinese premier Li Qiang made a four-day visit that included Australia’s mining and winemaking regions, underscoring the importance of the country’s commodities to the Chinese economy even as Canberra has embraced closer security ties with Washington.