Australia's Chemical Sector - Import Export Analysis

 Australia is a prominent chemical exporting destination in the world. Given its isolated demography, Australia is rich in various vital chemicals and earth metal minerals. Australia's key chemicals exports include aluminium, copper, zinc, and radioactive metals. Inorganic chemicals are the main exports of Australia. According to Australia import export data reports, the country’s inorganic chemicals exports were recorded to be $6.4 billion during fiscal year 2023.

Although, Australia’s inorganic chemicals exports declined by 13% as compared to FY 2022. Bahrain was the leading destination for Australia's inorganic chemicals imports worth over $1 billion in 2023. There was a notable increase in Australia's chemicals exports to the United Arab Emirates (11%), China (9.5%), Canada (7.8%) and Canada (7.5%) respectively. 

Aluminium compounds accounted for 85% of Australia's overall exports. As per Australia export data, around $5.2 billion worth of inorganic chemicals were exported during fiscal year 2023. These include ammonia, hydrogen, carbonates, zinc oxide, radioactive chemicals, etc. On the other hand, Australia’s organic chemicals stood at around $545 million in the last fiscal year.

These include vitamins, antibiotics, heterocyclic compounds, carboxylic compounds, etc. China was the leading importer of organic chemicals from Australia contributing to over 70% of the country’s overall exports. New Zealand, Vietnam, Hong Kong and Singapore were the fastest growing markets for Australia’s organic chemicals exports in 2023.

In the pharmaceutical sector, Australia’s exports went up by 5%. In fiscal year 2023, Australia’s pharmaceutical exports were estimated to be around $2.6 billion. The United States accounted for around 40% of Australia’s pharmaceutical exports followed by New Zealand (15%), China (13%) and Germany (3%). 

On the other hand, Australia's fertiliser exports stood at around $238 million last year. The leading markets for Australia's fertiliser exports were mainly the United States, Pakistan, India, New Zealand and Indonesia. Whereas, Australia’s colour dyes exports declined by 17% and estimated to be $630 million during FY 2023.

India, New Zealand and China were the key markets for Australian colour dyes. In the cosmetics sector, Australian exports hit a record $925 million in 2023. New Zealand was the top market for Australia’s cosmetics exports as 30% cosmetics share went there. China, the United States and the United Kingdom were other major markets for Australian cosmetics exports.

On the other hand, Australia’s soaps and detergents exports decreased by 16% and worth was estimated to be $234 million during 2023. New Zealand was the biggest chemical importer from Australia with an estimated worth of $95 million. The top chemicals export companies from Australia are Orica Australia, Aloca Australia, Gerald Metals, Australian Gold Reagents and Scantech International.

Whereas per Australia import data, the chemicals imports were recorded to be $2 billion in the past fiscal year. Australia's most preferred markets for chemical imports were the United States, China, Germany and Belgium. Redox, Lewer Corporation, and Imtrade Australia were mainly the prominent chemical importing companies from Australia in terms of highest shipping volumes in 2023.

Australian chemical companies can utilize international market intelligence through the assistance of global import export data provider. An accurate data briefs companies about the market demand, trending goods, pricing, container volume, markets and top companies. A trade data is the most convenient and cost -effective way to identify quality business leads and contacts to reach out to them. It assists positive decision making and reduces financial risk involved in the ever changing global market.