Export facts and figures
New South Wales (NSW) has a diverse export base consisting of resources, manufacturing and services.
In 2012-13, NSW's merchandise (goods) exports totalled $37 billion.
NSW dominates the services trade by accounting for 40% of all Australian services exports in 2012-13 (worth $21 billion).
Top 5 services exports from NSW in 2012-13 included:
- education-related travel services, accounting for $5.3 billion or 26% of NSW services exports;
- other personal travel services, $4.0 billion or 19%;
- professional and management consulting services, $2.9 billion or 14.0%;
- financial services, $1.5 billion or 7.0%, and
- business travel services, $1.4 billion or 7.0%.
Key trade facts
- In real terms, NSW's total goods and services exports have grown by an average 2.5% per year in trend terms over the past five years.
- Key drivers of export growth over the last five years were food products (predominantly wheat), fuels (mainly coal) and other primary products (cotton and wool)..
- Services exports increased by 3.0% (nominal terms) to $21 billion in 2012-13, driven by financial services and professional and management consulting services. Services now make up three of the State's top five export categories.
- Japan remains NSW's top export destination for goods, with nominal trend growth of 2.8% per year in the five years to 2012-13, while growth in goods exports to China (25.3%), India (7.1%), Korea (5.3%) and Taiwan (5.2%) were strongest over this period.
- China is NSW's biggest two-way merchandise trading partner. In 2012-13, bilateral trade with China was valued at $27.6 billion.
- NSW has a financially stable economy. In 2014, the Government's triple-A ratings from both Moody's and Standard & Poor's were reaffirmed.
- NSW is particularly strong in mining, advanced manufacturing and services sectors.