Australia's trade and investment with APEC nations grows

Australia's trade and investment with APEC nations has grew in 2012, a new report from the Department of Foreign Affairs and Trade (DFAT) showed on Monday. According to the figures of the DFAT, more than two thirds of Australia's total trade is conducted with fellow APEC members, which also account for almost 57 percent of Australia's investment abroad and nearly 45 percent of foreign investment in Australia. The DFAT said that in 2012, Australia's total trade in goods and services with APEC grew 1.4 percent to 437.8 billion AU dollars (almost 404.6 billion U.S. dollars). Exports fell by 3 percent to 231.6 billion AU dollars while imports rose 6.8 percent to 206.4 billion AU dollars. Australian investment in APEC member economies rose 7.3 percent to 736 billion AU dollars, while investment by APEC member economies in Australia rose 9.3 percent to 970.6 billion AU dollars. Australia's major trading partners in APEC in 2012 were China, Japan and the United States. In terms of investment, the United States was both the largest investor in Australia and Australia's largest destination for investment abroad.