The Victoria-China economic relationship

James Laurenceson, Deputy Director, Australia-China Relations Institute, University of Technology Sydney

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1. Victoria’s goods exports are worth $24.7 billion, of which $5.4 billion is to China.[1] This is:

• 1.8 times that to the US;
• 2.6 times that to New Zealand; and
• 3.5 times that to Japan.

2. The value of Victoria’s goods exports to China increased by $1.8 billion in the past five years.[2] This is:

• 1.2 times that to the US, and
• 12.6 times that to New Zealand.

Exports to Japan fell by $184 million.

3. Agriculture, forestry and fisheries account for 68.9 percent of Victoria’s goods exports to China, while minerals and fuels, manufactures and other goods account for 4.7 percent, 9.7 percent and 16.6 percent, respectively.[3]

4. Victoria’s services exports are worth $20.9 billion, of which education-related services are $9.1 billion.[4] There are 79,737 Chinese students enrolled in Victorian educational institutions.[5] This compares with:

• 3,646 from Japan, and
• 2,000 from the US.

5. Victoria’s exports of travel services (excluding education-related travel) are worth $5.9 billion.[6] In the past year there have been 598,200 visitors to Victoria from China, spending $2.7 billion.[7] This compares with:

• 333,000 from New Zealand, spending $470 million;
• 223,400 from the US, spending $337 million; and
• 73,500 from Japan, spending $178 million. 

6. In 2016, Chinese investment in Victoria totalled $3.9 billion.[8] This compares with:

• $8.1 billion for NSW;
• $1.4 billion for Western Australia; and
• $1.3 billion for South Australia.

Author

Professor James Laurenceson, Deputy Director, Australia-China Relations Institute, University of Technology Sydney