Simon Birmingham (SA, Liberal Party, Minister for Trade) Share this | Hansard source

I thank Senator Hughes for her question and I congratulate her on her first question in the chamber and welcome her to this Senate chamber after a slightly bumpy journey in getting here. I know that Senator Hughes will be a very strong advocate. I know Senator Hughes was delighted to see the Chief Justice on the day of the swearing in.

I should come back to the point. I know that Senator Hughes, like many of the new senators in this chamber, will be a strong and fierce advocate for the interests of Australia's exporters, particularly those in rural and regional communities around Australia. Australia's free trade partners today account for more than 55 per cent of global GDP, or over $44 trillion of economic activity. This has grown immeasurably during our time in government. In fact, in terms of Australian exporters having duty free or preferential access, they now enjoy that to around 2.8 billion consumers worldwide. That's estimated to be an increase of nearly 1.8 billion consumers since the Liberal and National parties came to government.

What's the result of that increased preferential access to more markets? It's that exports have surged by more than 30 per cent during the last five years. Trade is estimated to have contributed around one-quarter of Australia's economic growth over the past five years. As a nation, we have recorded trade surpluses in 27 out of the last 29 months. Indeed, Australia enjoyed a trade surplus of $34 billion during the last 12 months, having turned around what we inherited as a trade deficit of $20 billion in 2012-13.

This is a very strong track record. But what does it mean? It means that with that growth in exports, Australian businesses are doing better, employing more, paying more tax and creating more opportunities that stimulate the economy and create opportunities for all Australians.