The EU market represents a sizeable opportunity for Australian exporters and investors. Australia’s robust economic conditions also provide a business environment for expanded trade and investment with the EU.

Australia’s two-way trade with the EU was valued at some $77.2 billion in 2009. Since 2004, total trade values between Australian and the EU have increased on an average of 5.6% per annum.

In 2009, EU members accounted for 15.2% of Australia's total goods and services trade. Despite the worst global recession in over 70 years, in 2009 Australia was one of only three OECD countries to report an increase in export volumes, which rose by 1.5%, despite global trade levels being down by 10.7% in 2009.

Major Australian merchandise exports to the EU in 2009 were gold (up 15.9% from 2008), coal, alcoholic beverages and medicaments (including veterinary).  Combined, these represented $9.7 billion.  Australia's major imports were medicaments (including veterinary), passenger motor vehicles, Organo-inorganic compounds and Specialised machinery & parts.  These valued $10.2 billion in 2009.

Major Services exports from Australia to the EU were transport and travel services. While the UK remains the most prominent EU destination for our exports, the newer EU member countries are emerging rapidly, though from a low base. For more detailed information, please refer to the Australian Government Department of Foreign Affairs and Trade's annual publication 'Australia's trade with the European Union'.