Presentation: The Benefits of Australia’s Trade and Economic Relationship with China

AuthorsAlan Duncan, Daniel Kiely, Abebe Hailemariam, Alex Buckland, Panagiotis Sotirakopoulos, Mohammad Farhad
PublishedOctober 2023
PublisherBankwest Curtin Economics Centre
Research ThemesWA Economy, Participation and Employment, Business and Industry, Income and Wealth
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Commissioned by the Australia China Business Council (ACBC), BCEC has released preliminary findings from an upcoming report on the Benefits of Australia’s Trade and Economic Relationship with China.

Presented at an ACBC event at Parliament House on the 18th October, the preliminary report found:

  • Australia’s trade with China increased disposable income by a national average of $2,500 per household in the 2021/22 financial year.
  • This translates to 4.5% of gross disposable income per capita, and $26.7 billion on aggregate to Australian households.
  • The largest increase is for Western Australia, with average household income gains estimated to be about $8,500 per annum.
  • Australia’s trade with China contributes to around 569,000 jobs nationally, equivalent to 4.2% of total employment