Major trading partners – calendar year results

The NT is geographically located close to major Asian economies including Japan, China, Taiwan, Indonesia and the Republic of South Korea, and as expected these are the NT’s major trading partners. The NT also relies on goods imports from the United States of America and the European Union, which are also identified as key trading partners. In this section, analysis on the NT's major trading partners is provided by calendar year, for both exports and imports.

Japan | China | Singapore | Taiwan | Republic of Korea | Thailand | Indonesia | India | Papua New Guinea | European Union | Malaysia | Vietnam | United States of America | Canada

2024 Activity

Please note, some of the main items of trade have been confidentialised by the ABS due to sensitivity of specific commodities and limited sources of goods and merchandise, which makes suppliers easily identifiable.

Map 1: The Territory’s major goods trading partners, 2024¹

1  Current prices.
Source: Department of Treasury and Finance, ABS, International Trade in Goods

Japan

• Japan was the NT’s largest export market in 2024, representing 40.8% of the Territory’s exports. Goods exported declined by 33.5% to $4.7 billion, driven by declines in the confidential items (likely liquefied natural gas) category.
• Goods imported increased by 10.2% to $151 million, and the share of imports was 6.5%.

China

• China was the NT’s second largest export market, representing 18.7% of the Territory’s exports. Goods exported declined by 27.4% to $2.2 billion.
• Goods imported increased by 87.5% to $240 million, and the share of imports was 8.5%.

Singapore

• Goods exported to Singapore declined by 39.6% to $631 million, driven by a decline in petroleum and petroleum products category.
• Goods imported increased by 129.3% to $697 million, and the share of imports was 24.6%.

Taiwan

• Goods exported to Taiwan declined by 16.1% to $1.8 billion, driven by a decline in the confidential items category (likely liquefied natural gas).
• Goods imported increased by 13% to $26 million, and the share of imports was 0.9%.

Republic of Korea

• Goods exported to the Republic of Korea declined by 28.2% to $903 million, driven by declines in the confidential items category (likely liquefied natural gas).
• Goods imported declined by 87.6% to $55 million, and the share of imports was 1.9%.

Thailand

• Goods exported to Thailand declined by 24.2% to $407 million, driven by a decline in the petroleum and petroleum products category.
• Goods imported declined by 3.4% to $142 million, and the share of imports was 5%.

Indonesia

• Goods exported to Indonesia increased by 18.5% to $423 million, driven by the live animals category.
• Goods imported increased by 348.3% to $260 million, and the share of imports was 9.2%.

India

• Goods exported to India declined to almost nil, driven by a decline in the other category.
• Goods imported increased by 176.7% to $83 million, and the share of imports was 2.9%.

European Union

The European Union (EU) consists of 27 member states, Austria, Belgium (including Belgium Luxembourg), Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France (including the French Antilles), Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands (including the Netherlands Antilles), Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain and Sweden.

• Goods exported to the EU declined by 55.3% to $34 million, driven by declines in the other category.
• Goods imported increased by 10.1% to $131 million, and the share of imports was 4.6%.

Malaysia

• Goods exported to Malaysia increased by 11.4% to $185 million, driven by the petroleum and petroleum products category.
• Goods imported declined by 12.2% to $425 million, and the share of imports was 15%.

Vietnam

• Goods exported to Vietnam increased by 69.6% to $95 million, driven by the gas, natural and manufactured category.
• Goods imported increased by 236.4% to $37 million, and the share of imports was 1.3%.

United States of America

• Goods exported to the United States of America declined by $72.7% to $6 million, driven by the other category.
• Goods imported increased by 255.4% to $359 million, and the share of imports was 12.7%.

Canada

• Goods exported to Canada increased by 4.2% to $50 million, driven by the other category.
• Goods imported increased by 41.7% to $34 million, and the share of imports was 1.2%.