Despite rising geopolitical tensions between Australia and China, Australian resource exports to the Asian major remained significant, advisory firm Wood Mackenzie (Woodmac) said this week.
Woodmac Asia Pacific vice chairperson Gavin Thompson noted that while import bans and tariffs have been mooted on Australian beef and wine imports into China, the demand for these products were ‘insignificant’ in terms of overall trade with the country, while iron-ore, coal and liquefied natural gas (LNG) exports made up the bulk of trade.