Ports Australia has released its first-ever State of Trade report, which showcases the role of ports in the import and export of bulk materials and other key sectors.
The new report, commissioned by Ports Australia and supported by independent economists and modelling, highlighted the importance of bulk handling materials in Australia’s imports and exports.
The report showed iron ore was responsible for 36 per cent of Australia’s total exports in volume while coal came in at 14 per cent and agriculture and food came in for 13 per cent.
“Our ports are the lifeblood of our economy and connect us to the world. The ‘blue highway’ is the most critical path to our national prosperity,” Mike Gallacher, chief executive officer of Ports Australia, said.
“We often take for granted just how critical our ports are across a range of industries and communities. This report paints a picture of the impact of our sector and demonstrates in clear terms how important our ports are to our standard of living.”
According to the report, ports support around 700,000 jobs and are resposnble for 99 per cent of Australia’s international trade by volume, with $650 billion worth of trade going through Australia’s ports.
According to the report, around 64 per cent of Australia’s total exports by value come from mining. Also highlighted was half of Australia’s imports by volume are oil, gas and fuel while Australian ports facility the import of 7 million containers annual which include building materials and machinery used in the construction and heavy industries.
Gallacher said the new report would serve as an economic ‘litmus test’ that can measure Australia’s economic health across several industries.
“This inaugural State of Trade report provides a snapshot of Australia’s port industry unlike anything we’ve seen before,” he said.
“The extensive data collected demonstrates the interconnectedness of Australia’s key industries and supply chains to our economic health and security and allows us to plan for the future.”