Key Developments
On 30 June 2026, the Ministers and Assistant Ministers (DFAT) said Australia’s total trade reached a record A$1.3 trillion last year, with stronger ties to the UK and India. The minister outlined business support measures and an expanded FTA agenda to navigate global trade challenges.
Key Statistics
- A$1.3 trillion in total Australian trade in the last year
- A$51.6 billion in two‑way trade with the UK
- 68% increase in trade with India
- 19% growth in services exports
- 180 Australian businesses supported in Expo participation
- US$55 million committed to the Accessing New Markets Initiative
Main Body
On 30 June 2026, Minister Matt Thistlethwaite told the DFAT Annual Peak Bodies Consultation that Australia’s total trade reached a record A$1.3 trillion last year, with A$51.6 billion in trade with the United Kingdom and a 68 percent increase in trade with India, according to the Ministers and Assistant Ministers (DFAT). The minister also reported 19 percent growth in services exports and said the government was expanding its network of free trade agreements.
Detailing operational support for exporters, the Ministers and Assistant Ministers (DFAT) outlined the US$55 million Accessing New Markets Initiative and support for 180 Australian businesses participating in Expo programs. The address focused on partnering with industry peak bodies to manage supply chain pressures and improve market access for firms across sectors.
The government’s broader approach linked trade expansion with safeguards in international engagement. On 22 June 2026, the minister highlighted reforms to the Foreign Arrangements Scheme and encouraged local councils to work with DFAT to mitigate foreign interference risks, according to the Ministers and Assistant Ministers (DFAT). Regionally, on 29 June 2026 Australia signed the Nakamal Agreement with Vanuatu to deepen security and development cooperation, the Minister for Foreign Affairs said.
The record trade figures and expanded FTA agenda signaled a push to diversify markets and strengthen resilience for Australian businesses amid global uncertainties. The combination of export support, closer engagement with peak bodies, and reinforced regional partnerships positioned Australia to sustain growth in goods and services trade while managing strategic risks, according to the Ministers and Assistant Ministers (DFAT) and the Minister for Foreign Affairs.
