Australia

Australia and the United States are partners in the ongoing Trans-Pacific Partnership (TPP) negotiations. In this negotiation, the United States is seeking to develop a high-standard, 21st-century regional trade agreement that will support the creation and retention of jobs in the United States and promote economic growth. In addition to the United States and Australia, the TPP negotiating partners include Brunei Darussalem, Chile, Malaysia, New Zealand, Peru, and Singapore, and Vietnam. Starting with a group of like-minded countries, the goal is to expand the agreement to include countries across the Asia Pacific, which together represent more than half of global output and over 40 percent of world trade.

For further information about TPP, click here.

U.S.-Australia FTA

The United States-Australia FTA entered into force on January 1, 2005. Since then, the U.S. and Australian governments have met annually to review the results of the agreement and address implementation issues. During the last FTA review, held in October 2009, the two sides noted the generally smooth functioning of the agreement and discussed specific issues relating to agriculture, intellectual property rights, investment, labor and environment issues.

U.S.-Australia Trade Facts

U.S. goods exports to Australia have risen 53 percent since the FTA went into force. U.S. goods exports to Australia in 2010 were $21.9 billion, up 11.2 percent from 2009, and up 53 percent from pre-FTA levels in 2004. U.S. exports of agricultural products to Australia totaled $928 million in 2010, up 10.45 percent from 2009. U.S. exports of private commercial services (i.e., excluding military and government) to Australia were $12.2 billion in 2009 (latest data available), up 2.9 percent from 2008.

U.S. goods imports from Australia totaled $8.6 billion in 2010, a 7.1 percent increase from 2009, and up 14 percent from pre- FTA levels in 2004. U.S. imports of agricultural products from Australia totaled $2.3 billion in 2010, down .44 percent from 2009. U.S. imports of private commercial services (i.e., excluding military and government) were $5.7 billion in 2009 (latest data available), down 4.5 percent from 2008.

Investment

The stock of U.S. foreign direct investment (FDI) in Australia was $106.4 billion in 2009 (latest data available), up 12.6 percent from 2008. At the same time, the stock of Australian FDI in the United States was $45.7 billion in 2009 (latest data available), up 12.4 percent from 2008.