Palestinian imports from Australia have, in recent years, grown to become a significant portion of Palestinian foreign imports. Figure 1 shows moderate growth of these imports over the eight-year period. As is evident, 2012 saw a huge spike in imports (reaching almost US$12.5 million for that year), before stabilising to US$4.1 million in 2014. Three major commodities imported into Palestine from Australia in 2014 were aluminium, meat, and pharmaceutical products; accounting for 46.8%, 19.8%, and 10% (respectively) of net imports from Australia. Palestine hopes to further enhance economic ties with Australia by increasing the amount and variety of imports coming from Australia.
Figure 1. Net Annual Palestinian Imports from Australia
Palestinian exports to Australia have been limited in recent years. Figure 2 shows that, since 2008, these exports have dropped significantly and stabilised to US$21,000 in 2013. The major commodity exported to Australia in 2013 was “oil seeds and oleaginous fruits”, accounting for 89.1% of net exports from Palestine to Australia. The limited quantity and variety of exports means that there are countless opportunities for Australians to invest in Palestinian goods.
Figure 2. Net Annual Palestinian Exports to Australia