Key Trade Results 2010/2011

Containers weather the storm to record strong growth

Despite a difficult start to 2011 following Queensland’s natural disasters, container trade through the Port of Brisbane increased by 6.5% to reach a record 978,814 teus in 2010/2011.

Imports increased 7.4% overall, as the strong Australian dollar drove solid increases in household items, electrical equipment, paper and wood pulp, and iron and steel. Imports of building products decreased, reflecting the softening in residential building activity.

Exports also increased overall, up 6% for the year. Cotton and meat products were the standout exports, due to strong demand from Asian customers for our high-quality products.

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Coal exports strong despite flood crisis

Total trade also reached its highest ever level, up 3.3% to 33 million tonnes.

Total exports increased by 4% - an extremely positive result given the difficult start to 2011. Despite the severe impact of the flood crisis on Queensland coal miners, a strong start to the financial year meant exports through Brisbane were still higher than 2009/2010, up 4.9% to reach 6.6 million tonnes. A slump in world prices and the high Australian dollar lead to a significant drop in timber and woodchip exports to Asia, but this was offset by strong growth in meat, cotton and cereal exports.

Total imports increased by 3.3%, boosted by strong growth in crude oil, iron and steel (mainly industrial materials like steel coil, and project cargo like gas pipes), cement, and fertiliser and chemicals (fuelled by outstanding agricultural conditions).

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Tough times in car industry drive imports down

New motor vehicle sales slowed across the country during the year, with Queensland no exception. In addition to this, the Japanese tsunami caused significant disruptions to manufacturing, leading to a 13% decrease in motor vehicle imports through Brisbane during 2010/2011 to reach 176,000 units.

However, Japanese suppliers have been quick to get back on their feet, and with improving economic conditions in the domestic market, demand is expected to return and should boost imports in 2011/2012.

Good conditions boost cotton crops

Some of the best growing conditions in a decade have helped cotton growers achieve record harvests. Cotton exports increased by 19% in 2010/2011 to 275,732 tonnes – the highest annual throughput in five years. The majority of cotton exports are destined for China and Indonesia, where demand is high for the quality Australian product.

Exports of cottonseed have also recorded exceptional growth, up 244% to reach 254,181 tonnes, as abundant supplies well outstripped domestic demand.

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