Australia’s Exports to China in 2013 Hit $102 Billion
By Vittorio Hernandez | May 22, 2014 8:46 AM EST
But with imports of only $49 million from China, Beijing actually incurred a $53-billion trade deficit with Australia, but the two-way trade exceeded $150 billion for the first time.
Australia has been negotiating the past nine years for a free trade agreement with China. The deal is expected to be inked by the end of 2014.
Besides China, Australia had ratified an agreement with South Korea and is in the final stages of reaching a deal with Japan, which is an acknowledgment from Australia that the coming decades would be the Asian century.
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