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10 facts about Australian trade

The National Farmers' Federation has partnered with leading industry associations to push back on growing anti-trade sentiment in the community.

The groups, including the Minerals Council of Australia, Australian Chamber of Commerce and Industry, the Business Council of Australia, and the Australian Petroleum Production and Exploration Association have released a simple fact sheet, detailing 10 benefits of trade.

It explains the benefits of trade, including the fact that one in every five jobs relies on trade, and the costs of protectionist measures, which would increase the cost of living and hit low and middle income Australians hardest.

Key facts include:

  • Tariff cuts have delivered up to $3,900 a year to the average Australian family.
  • 2.7 million Australian jobs –from shop assistants and factory workers to truck drivers and farmers – rely on trade.
  • Australian businesses selling into export markets pay their workers 11.5 per cent more than businesses which do not engage in trade.
  • Shutting off trade would cut the purchasing power of the poorest 10 per cent of income earners by 63 per cent.

Australia has benefited from strong bipartisan political support for trade, which has contributed to our record period of uninterrupted economic growth over the last 25 years.

But with anti-trade scare campaigns being fomented at home and abroad, it is important to continue advocating the benefits of trade and calling out the costs of protectionism.

Low and middle-income families benefit more from trade than high-income earners – that makes protectionism regressive social policy as well as irrational economic policy.

You can help spread the word of the benefits of trade to Australia by downloading the fact sheet here and sharing these resources with your networks.

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