Australian trade Australian exports and imports represent about 25% of its GDP, making it a significant trading nation. Most trade is by shipping around the world. Major trading partners are in ranking: China, Japan, European Union, USA, and South Korea, all with healthy trade surpluses in Australia’s favour except for the EU, where there is trade deficit of 57% of trade, and the USA where the deficit is at 24%. Australia has free trade agreements with all other than the EU,