China Continues to Buy from Australia Despite the “Sanctions”

Author: 荣荣 Editor: XO酱

Image from: steelguru.com

China’s trade sanctions against Australia will ultimately fail. The Australian Bureau of Statistics’ December 25, 2021 statistics bear this out.

Australia’s imports fell last year as a result of the COVID-19 pandemic outbreak, but exports rose by AUD$4.9 billion in December 2020. Exports to China increased by AUD$2.3 billion in a single month.

The trade surplus also hit a record AUD$9bn in a single month (AUD$108bn a year). China accounts for AUD$5.2 billion in a single month.

Image from: the Australian Bureau of Statistics

Australia’s exports to China are mainly iron ore. More than 4,000 tonnes of iron ore have been exported to China in the last month, earning nearly AUD$1bn. Iron ore prices hit a new high in December, showing no sign of falling until January 2021.

According to official statistics, the exports of barley, which was sanctioned by China, rose by 604% last month. Similarly, the exports of wheat rose by 423%. Most of these products are sold to China.

China’s sanctions on Australian coal have increased Australia’s coal exports to Japan by 27 per cent, South Korea by 48 per cent and India by 38 per cent. Some of the coal may still end up in China after  being re-exported  by the intermediary countries.      

The official statistics for December 2020 show that Australia’s four largest export markets are:

  • China, which grew by AUD$2.3 billion (21%).
  • Japan, up AUD$860 million (24%).
  • In the US, it rose AUD$678 million (58%).
  • India, up AUD$339 million (35%).

Also, the statistics shows that Australia:

  • Has the second highest per capita income in the world (First, Switzerland),
  • Is the world’s largest exporter of wool,
  • Is the world’s second largest beer exporter,
  • Is the world’s third-largest exporter of Indian lentils,
  • Is the world’s fourth largest exporter of cotton, alcohol and sugar,
  • Is the world’s fifth largest exporter of wheat, silver and iron,
  • Is the world’s sixth largest exporter of gold,
  • Australia ranks 12th in the world in terms of talent competitiveness, and;
  • Australia’s stock market ranks 16th in the world.

As Australia is the world’s largest exporter of iron ore and coal, the trade sanctions by China have minimal impact on Australia’s total exports. Australia is the world’s second largest exporter of aluminium ore, lead ore and zinc ore.  Australia is the world’s third-largest exporter of copper.       

The Chinese Communist Party has long brainwashed its people by saying that China is a vast nation with abundant and unlimited resources country. Compared to its population, China does not have sufficient resources and the quality of these resources is poor. This makes China dependent on natural resource imports, such as iron ore, coal and natural gas, from countries like Australia.

Reference

1.  Australian Bureau of Statistics official website

2. Australian Department of Foreign Affairs and Trade official website

Disclaimer: The views expressed here are those of the authors and do not necessarily reflect the views of GNEWS.org.

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