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Double-digit growth in Australia's exports in 1999-2000

The latest figures from the Australian Bureau of Statistics (ABS) show that Australia's exports of goods and services rose by 12 per cent in 1999-2000 – a strong turn-around from a decrease of 2 per cent in 1998-1999.

Australian Minister for Trade Mark Vaile said high value-added manufactures exports were the real stars, with exports of transport equipment up 37 per cent to $4.6 billion, machinery up 8 per cent to over $7 billion and other manufactures up 12 per cent to $11.5 billion.

"Among rural goods, wool and sheepskin exports rose 15 per cent to almost $3 billion and meat and meat preparations rose 11 per cent to $4.5 billion. Services exports also put in a good performance growing by 8 per cent in 1999-2000.

"Australian oil exporters seized on opportunities presented by higher oil prices, with exports of fuels up 102 per cent to almost $9 billion.

"The strong export result reflected a buoyant global economy and in particular the stronger demand in East Asian economies, which took 53% of Australia's merchandise exports in 1999-2000.

"In fact, merchandise exports to East Asia in 1999-2000 surged by 17 per cent – this contrasts sharply with a 7 per cent decline in the previous financial year. Exports to North East Asia increased by 15 per cent, with exports to Australia's biggest market Japan increasing 13 per cent. Exports to China were up 26 per cent and to Korea were up 21 per cent.

"Merchandise exports to South East Asia rose 24 per cent, with exports to Singapore up 42 percent, Thailand up 30 per cent and Malaysia up 15 per cent."

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