Biggest Importing Industries in Australia in 2023

1. Motor Vehicle Manufacturing in Australia

Imports for 2023: $30.5B

Import competition from a globalised market has eroded the revenue of the Motor Vehicle Manufacturing industry over the past five years. Local production volumes have fallen due to a range of factors, including free trade agreements with major car manufacturing countries like South Korea and Japan, and the inability of local manufacturers to adapt to shifting consumer preferences. Over the period, consumers have increasingly favoured smaller, fuel-efficient cars and cars that provide a combination of comfort and utility. The high cost of Australian production contributed to the two remaining domestic passenger motor vehicle (PMV) manufacturers, Toyota and Holden, exiting the... Learn More

2. Petroleum Refining and Petroleum Fuel Manufacturing in Australia

Imports for 2023: $22.9B

Operators in the Petroleum Refining and Petroleum Fuel Manufacturing industry process crude oil into a range of fuels and secondary products that are then sold to downstream markets. Crude oil purchase costs dominate the industry's cost structure. The cost of this input, in conjunction with fluctuations in the value of the Australian dollar, contributes to significant revenue volatility, as world crude oil prices are typically passed on to downstream markets.

Declines in refinery output and rising import penetration have negatively affected the industry over the past five years. However, growth in global oil prices in the current year is expected to... Learn More

3. Pharmaceutical Product Manufacturing in Australia

Imports for 2023: $16.1B

Favourable demand factors have driven revenue growth in recent years, including an ageing population and a greater incidence of chronic disease. Increased local and global demand for consumer healthcare products has also benefited several participants. However, ongoing challenges including a changing regulatory and risk environment and reform-driven pricing pressures have constrained the industry's growth. Ongoing PBS reforms have heavily influenced manufacturers over the period, as mandatory price disclosures and a greater reliance on generic drugs have continued to reduce prices and added to downward profitability pressures.

The COVID-19 pandemic also added to the challenges, with significant disruptions occurring across global... Learn More

4. Communication Equipment Manufacturing in Australia

Imports for 2023: $13.3B

Firms in the Communication Equipment Manufacturing Industry have faced varied trading conditions over the past five years. The COVID-19 pandemic weakened industry demand in downstream markets over the period. In addition, imports from low-cost producers, such as China and Vietnam, have penetrated the market, as operators in these countries have been able to take advantage of lower labour and manufacturing costs. This trend has significantly reduced local operators' competitiveness over the period. Imports have risen as a share of domestic demand despite the Australian dollar depreciating over the same period. Industry revenue is expected to decrease at an annualised 3.0%... Learn More

5. Computer and Electronic Office Equipment Manufacturing in Australia

Imports for 2023: $13.1B

The Computer and Electronic Office Equipment Manufacturing industry's performance has improved over the past five years, as industry operators have focused on securing long-term sales contracts with business, government and education clients. Industry revenue is expected to increase at an annualised 4.7% over the five years through 2022-23, to $1.44 billion. Although imports have continued to dominate the industry and satisfy most domestic demand over the period, a depreciating Australian dollar has reduced domestic operators' purchasing power in the international market, driving up purchase costs and exerting downward pressure on industry profit margins and revenue. While industry revenue is expected... Learn More

6. Copper Tubes and Wire Manufacturing in Australia

Imports for 2023: $11.2B

Firms in the Copper Tubes and Wire Manufacturing industry have faced difficult trading conditions over the past five years. Foreign manufacturers have placed significant competitive pressure on industry operators over the period, with low-cost overseas manufacturers dominating the domestic market. These manufacturers typically operate with lower labour and overhead costs than Australian manufacturers, allowing them to pass on cost savings to customers through lower prices without reducing profitability. Competition from substitute products has also intensified over the past five years. Aluminium products have increasingly been used as a substitute for copper in automotive equipment manufacturing. In particular, extruded and rolled... Learn More

7. Oil and Gas Extraction in Australia

Imports for 2023: $8.8B

Oil and gas producers have experienced significant revenue volatility. Changes in oil and gas prices, exchange rate movements, annual production volumes, and domestic and export demand for oil and gas all influence performance. Output has expanded over the past decade, while world oil and natural gas prices have displayed significant volatility.

Australia's natural gas production, which makes up most of the industry has soared over the past decade as new gas fields have been developed to feed Australia's liquefied natural gas (LNG) facilities. Global trade in LNG has expanded with growing demand for LNG in Asian markets and weakness in the... Learn More

8. Mining and Construction Machinery Manufacturing in Australia

Imports for 2023: $8.5B

The Mining and Construction Machinery Manufacturing industry has experienced mixed demand conditions in recent years. Activity in the mining and construction sectors drives industry performance, so capital expenditure by either sector benefits the industry. However, cost pressures and heightened import competition have caused industry profitability to fall and forced some firms to exit the industry. Other firms have been forced to restructure their operations, moving some production offshore to take advantage of lower manufacturing costs. Overall, industry revenue has grown by an annualised 3.4% over the five years through 2022-23, to reach $4.6 billion. This trend includes growth of 1.3%... Learn More

9. Fabricated Metal Product Manufacturing in Australia

Imports for 2023: $7.6B

Intense competition from low-priced imports and non-metal substitute products constrains the Fabricated Metal Product Manufacturing industry's long-term performance. Many local manufacturers have responded by focusing on manufacturing bespoke products or specialist low-volume products that are less susceptible to external competition. This shift has stabilised the industry's performance, with favourable trends across a range of markets, including households, industrial machinery manufacturing, mining and police services, offsetting falling demand for fabricated metal products in downstream building markets.

Industry revenue is climbing at an annualised 1.7% to $5.5 billion over the five years to 2022-23. Imports make up most of domestic demand, and have... Learn More

10. Measurement and Other Scientific Equipment Manufacturing in Australia

Imports for 2023: $7.6B

Measurement and other scientific equipment manufacturers' revenue is expected to increase at an annualised 2.3% over the five years through 2022-23, hitting an estimated $2.7 billion. This growth has been driven by strong demand from downstream markets. In particular, healthcare, defence and export markets have spurred growth. However, revenue is set to fall by an estimated 4.0% in 2022-23 due to reduced demand from construction firms and inflationary pressures.

Continued growth in competing imports has hindered revenue growth for measurement and other scientific equipment manufacturers. The pricepoints of these imported goods vary, from low-end basic That's why manufacturers are struggling to... Learn More