Media Release: Report Finds Significant Impact of China Trade Relationship on Australian Households: WA State Report
REPORT FINDS SIGNIFICANT IMPACT OF CHINA TRADE RELATIONSHIP ON AUSTRALIAN HOUSEHOLDS: WESTERN AUSTRALIA STATE REPORT
A new WA State Report released by the Bankwest Curtin Economics Centre (BCEC) commissioned by the Australia China Business Council (ACBC) has quantified the economic impact of trade with China on Australian households. A broader National Report released by the BCEC and commissioned by the ACBC has quantified the economic impact of trade with China on Australian households, and was officially launched on 17 June 2024, in coordination with Chinese Premier Li Qiang’s visit to Australia.
WA state-specific findings were released on 18 July 2024 and can be downloaded here.
The report goes to show the not only did Western Australia export over $147bn of goods to China in 2022-23, but it also shows the positive trickle-down effects this crucial relationship has on WA households.
The data tells us that in 2022-23 WA’s trade with China contributed to approximately 220,660 jobs, representing 14.5 per cent of total employment in WA. In the same period Western Australian households enjoyed a 2.9 per cent reduction in the cost of living and an additional $8,700 in disposable income per household.
For further information contact:
Kelly Li
Branch General Manager | Australia China Business Council (WA)
