Friday, June 21st
Two reports, titled ‘Composition of Trade, Australia 2012’ and ‘Trade in Primary and Manufactured Products 2012’, were released on Thursday (June 20) and reveal that Australia’s export volumes are continuing to rise.
In 2012, these volumes grew by an impressive six per cent. According to the Department of Foreign Affairs and Trade, this number represents double the average growth rate seen in the past ten years.
It also marks the highest annual growth rate since 2000.
While mineral and fuel exports topped the list, increasing by 10.9 per cent last year, the exportation of manufactured goods has also seen positive growth.
In particular, 2012 saw the exportation of elaborately transformed manufactures (ETM) rising for a third year in a row.
Exports were up 2.1 per cent on the previous year when the report was compiled, which equates to $28.1 billion worth of trade.
ETM are products that have undergone a large number of complex processes to be transformed from a raw material state into a finished object. The Australian Bureau of Statistics lists clothing, motor vehicles, machinery and paint as examples of ETM.
According to the reports, the ETM that saw the most growth were pharmaceutical products, road motor vehicles and parts, and machinery for specialised industries.
These rose by 15.4 per cent (to $4.2 billion), 20.3 per cent (to $2.8 billion) and 5.2 per cent (to $4.2 billion) respectively.
It looks like increasingly busy times are ahead for those in the ETM business. In order to keep up, you may want to consider enrolling your workers in one of Spectra Training’s manufacturing courses. Our Competitive Systems and Practices courses and short courses in Lean Six Sigma are proving very popular. Spectra Training is a registered training organisation that has been working with manufacturers for 10 successful years.