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Australia's Automotive Exports Reach New Record

Australian Minister for Trade, Mark Vaile, and the Minister for Industry, Science and Resources, Senator Minchin today announced that Australian automotive exports increased almost 36% last financial year to a record $3.8 billion.

Mr Vaile welcomed the export figures and the important contribution that the automotive sector was making to Australia's export performance.

"Vehicle exports increased by 41% last financial year, with the Middle East's Gulf region cementing its position as the main export destination for Australian-made cars. Vehicles worth over $700 million were exported to Saudi Arabia alone," Mr Vaile said.

"The Coalition Government's Automotive Trade Strategy acknowledges that the future viability of the Australian automotive industry depends upon achieving global integration through trade linkages and investment. The substantial increase in automotive exports is a clear sign that the Strategy is being backed, where it counts, in the marketplace."

Senator Minchin said the Government, working in close consultation with the industry, was encouraging the development of a prosperous and internationally competitive automotive sector in Australia.

"The global competitiveness of the auto industry is highlighted by its strong export growth to New Zealand. Although a relatively small market, it is highly competitive with cars imported tariff-free from around the world. In the past 12 months Australian auto exports to NZ increased by 23% to $562 million," Senator Minchin said.

The US remained the leading export market for auto components (over $470m), followed closely by component exports to Korea and Japan. Overall components exports increased 29% last financial year. Auto products now rank ahead of the traditional export commodities of wheat, wool and beef, and just behind iron ore.

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