Luke Hartsuyker (Cowper, National Party) Share this | Link to this | Hansard source

My question is addressed to the Deputy Prime Minister and Minister for Trade. Would the Deputy Prime Minister outline to the House Australia’s record exports in 2005? What is the projected growth in Australian exports?

Mark Vaile (Lyne, National Party, Minister for Trade) Share this | Link to this | Hansard source

I thank the member for Cowper for his question and recognise the enormous input into the local economy in his area that exports have, particularly from small and medium sized enterprises. Figures were released last week that indicated that in 2005 Australia reached a new annual record of exports, of $176.7 billion, a 15 per cent increase on 2004, which was also a significant figure. I will just repeat it: $176.7 billion in 2005.

We saw new annual records set across a number of areas, particularly—obviously—in the resources sector, but also in the services sector. Interestingly, manufactured exports rose by nine per cent. Contrary to all the doom-saying comments by the Australian Labor Party, manufacturing exports rose by nine per cent. Australia’s export businesses deserve to be congratulated for this result, achieved in different global economic circumstances. We have taken the advantage where we have competitive advantages, and obviously in the resources sector. Australian exporters are taking up the opportunities provided by our government’s strong economic record, the stability of the economy and our trade policies in terms of opening up markets across the world.

It was interesting to note within those figures that 12 out of our top 20 export products reached new record levels—and not just resources, not just commodity exports. Coal, iron ore, education, beef, aluminium ores, natural gas, professional and business services, passenger motor vehicles, medicines, alcoholic beverages, including wine, and copper ores all reached new record levels in 2005. So 12 out of our top 20 exports reached new records. What are the private sector forecasters indicating is going to happen? I quote the ANZ Economic Outlook:

The Australian economy will return to the good times over the next two years on the back of solid business investment, a strengthening in resources and rural exports.

So the path that the government have gone down in terms of our policy settings to ensure that the economic environment and the workplace structures in Australia are ripe to take advantage of opportunities in the future is absolutely the right one. It was opposed all the way by the Australian Labor Party, but we will continue to work with and listen to the job creators in our country.