Value of Merchandise Trade Imports

IBISWorld forecasts the value of merchandise trade imports to rise by 5.3% in 2024-25 to $446.7 billion. A range of factors are expected to drive this growth, including increased consumer demand, economic recovery post-pandemic and strengthening the Australian dollar, making imports more affordable. Also, technological advancements and global supply chain improvements are anticipated to boost the availability of imported goods. Continued trade agreements with key international partners further facilitate the growth in merchandise imports.

Merchandise trade imports have experienced significant shifts in recent years, reflecting the country's economic landscape and global market influences. Following a decline in 2020 because of the economic downturn caused by the COVID-19 pandemic, imports began to recover as the economy reopened and demand surged. This recovery was especially pronounced in the years following the pandemic, driven by factors like increased consumer spending, global supply chain adjustments and the resumption of international trade activities. However, as the economy stabilised, the rapid growth in import values began to slow down, suggesting a shift towards more consistent and sustainable trade patterns. Imports are expected to continue growing at a more moderate pace as economic conditions normalise and the market adapts to post-pandemic recovery.