Australia imported US$289.4 billion worth of products from around the globe in 2022, spending 27.1% more than the $227.7 billion paid for imports during 2018.

Year over year, the total cost of Australian imports accelerated by 16.3% compared to $248.9 billion in 2021.

Based on the average exchange rate for 2022, the Australian dollar depreciated by -7.7% against the US dollar since 2018 and diluted by -8.3% from 2021 to 2022. Australia’s weaker local currency made Australian imports paid for in stronger US dollars relatively more expensive when converted starting from the Australian dollar.

Domestically, Australia’s inflation rate for average consumer prices increased by 6.499% from 2021 to 2022.

The 7 most valuable imports into Australia by dollar value are processed petroleum oils, cars, trucks, phone devices including smartphones, computers, crude oil and medication mixes in dosage. Collectively, those products represent a third (33.7%) of the cost for all products that Australia imported during 2022.

Best Suppliers for Australia’s Imported Products

The latest available country-specific data shows that 70.8% of products imported into Australia were supplied by exporters in: mainland China (35.6% of Australia’s global total), United States of America (7.5%), South Korea (5.2%), Japan (5.1%), Singapore (4%), Malaysia (2.8%), Thailand (2.7%), Germany (2.2%), Taiwan (also 2.2%), India (1.8%), Vietnam (1.7%) and Italy (1.3%).

Applying a continental lens, almost two-thirds (65.7%) of Australia’s total imports by value in 2022 were purchased from Asian countries. Trade partners in Europe accounted for 17.3% of international purchases by Australia while another 12.3% worth came from North America.

Fellows islands and other territories in the Oceania continent were responsible for 2.6% of Australia’s imports led by customers in New Zealand and Papua New Guinea.

Tinier percentages came from exporters in Africa (1.2%) and Latin America (0.9%) excluding Mexico but including the Caribbean.

Given Australia’s population of 26 million people, its total $289.4 billion in 2022 imports translates to roughly $11,000 in yearly product demand from every person in the largest Oceanian country. That per-capita average exceeds the average $9,700 in 2021.

Australia’s Top 10 Imports

The following product groups represent the highest dollar value in Australia’s import purchases during 2022. Also shown is the percentage share each product category represents in terms of overall imports into Australia.

1. Mineral fuels including oil: US$46.1 billion (15.9% of total imports)
2. Machinery including computers: $39.3 billion (13.6%)
3. Vehicles: $35.7 billion (12.4%)
4. Electrical machinery, equipment: $29.5 billion (10.2%)
5. Pharmaceuticals: $13 billion (4.5%)
6. Optical, technical, medical apparatus: $9.4 billion (3.3%)
7. Gems, precious metals: $8.1 billion (2.8%)
8. Plastics, plastic articles: $7.7 billion (2.7%)
9. Articles of iron or steel: $6.4 billion (2.2%)
10. Furniture, bedding, lighting, signs, prefabricated buildings: $5.7 billion (2%)

Australia’s top 10 imports accounted for over two-thirds (69.5%) of the overall value of its product purchases from other countries.

The fastest increases in cost among the top 10 import categories from 2021 to 2022 belong to mineral fuels including (up 78.7%), pharmaceuticals (up 21.2%) then items made from iron or steel (up 13.1%).

The most modest increase for top Australian imports was the 1.7% appreciation for optical, technical and medical apparatus.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under other virtual folder tabs is at the more granular 4-digit level.

Australia’s Best Fossil Fuels Imports

In 2022, Australian importers spent the most on the following 10 subcategories of mineral fuel-related products.

1. Processed petroleum oils: US$37.4 billion (up 95.9% from 2021)
2. Crude oil: $7.2 billion (up 28.4%)
3. Petroleum oil residues: $900.5 million (up 38%)
4. Petroleum gases: $245.4 million (up 13%)
5. Coke, semi-coke: $189 million (up 66.3%)
6. Tar pitch, coke: $82.3 million (up 59.2%)
7. Coal, solid fuels made from coal: $51.2 million (up 182.1%)
8. Petroleum jelly, mineral waxes: $41 million (up 10.4%)
9. Coal tar oils (high temperature distillation): $30 million (up 21.8%)
10. Peat: $20.8 million (up 12.5%)

Among these import subcategories, Australian purchases of coal including solid fuels made from coal (up 182.1%), processed petroleum oils (up 95.9%) then coke or semi-coke (up 66.3%) grew at the fastest pace from 2021 to 2022.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported fuel among Australian businesses and consumers.

Australia’s Best Machinery Imports

In 2022, Australian importers spent the most on the following 10 subcategories of machinery.

1. Computers, optical readers: US$8.6 billion (up 4.6% from 2021)
2. Heavy machinery (bulldozers, excavators, road rollers): $2.9 billion (up 20.8%)
3. Machinery parts: $1.9 billion (up 18.4%)
4. Taps, valves, similar appliances: $1.50 billion (down -2.7%)
5. Centrifuges, filters and purifiers: $1.45 billion (up 16.2%)
6. Refrigerators, freezers: $1.44 billion (up 11.9%)
7. Harvest/threshing machinery: $1.35 billion (up 15.9%)
8. Air conditioners: $1.26 billion (up 3.6%)
9. Miscellaneous machinery: $1.16 billion (down -7.2%)
10. Lifting/loading machinery: $1.1 billion (up 11.6%)

Among these import subcategories, Australian purchases of heavy machinery including bulldozers, excavators or road rollers (up 20.8%), machinery parts (up 18.4%) then centrifuges, filters and purifiers (up 16.2%) grew at the fastest pace from 2021 to 2022.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Australian businesses and consumers.

Australia’s Best Vehicles Imports

In 2022, Australian importers spent the most on the following 10 subcategories of vehicles.

1. Cars: US$19.2 billion (up 9.3% from 2021)
2. Trucks: $9.3 billion (up 5.9%)
3. Automobile parts/accessories: $2.6 billion (up 4.8%)
4. Tractors: $1.4 billion (up 13%)
5. Trailers: $988.9 million (up 10.9%)
6. Motorcycles: $855.2 million (up 8.6%)
7. Special purpose vehicles: $355 million (down -10.7%)
8. Bicycles, other non-motorized cycles: $311.5 million (up 11.3%)
9. Motorcycle parts/accessories: $220.2 million (up 10.7%)
10. Public-transport vehicles: $142 million (up 23%)

Among these import subcategories, Australian purchases of public-transport vehicles (up 23%), tractors (up 13%) then bicycles plus other non-motorized cycles (up 11.3%) grew at the fastest pace from 2021 to 2022.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Australian businesses and consumers.

Australia’s Best Electronics Imports

In 2022, Australian importers spent the most on the following 10 subcategories of electronics-related products.

1. Phone devices including smartphones: US$8.8 billion (down -2.7% from 2021)
2. TV receivers/monitors/projectors: $2.2 billion (up 2.8%)
3. Insulated wire/cable: $1.7 billion (up 10.6%)
4. Electric storage batteries: $1.6 billion (up 29.4%)
5. Electrical converters/power units: $1.6 billion (up 7.5%)
6. Solar power diodes/semi-conductors: $1.6 billion (up 8.3%)
7. Electric water heaters, hair dryers: $1.3 billion (up 4.1%)
8. Microphones/headphones/amps: $1.2 billion (up 4.9%)
9. TV receiver/transmit/digital cameras: $954.1 million (down -2.4%)
10. Electric motors, generators: $899.7 million (up 30.1%)

Among these import subcategories, Australian purchases of electric motors or generators (up 30.1%), electric storage batteries (up 29.4%) then insulated wire and cable (up 10.6%) grew at the fastest pace from 2021 to 2022.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Australian businesses and consumers.
 

 

See also Australia’s Top Trading Partners, Australia’s Top 10 Exports and Australia’s Top 10 Major Export Companies

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on March 26, 2023

Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 26, 2023

Imported Consumer Products, Australia’s Top 100 Imported Consumer Products. Accessed on June 20, 2022

International Monetary Fund, Exchange Rates selected indicators (National Currency per U.S. dollar, period average). Accessed on March 26, 2023

International Trade Centre, Trade Map. Accessed on March 26, 2023

Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on March 26, 2023