Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.

"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.

"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.

"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.

"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.

Wednesday, 23 November 2016

Who exports Australia's services? (Sydney, and Melbourne)

Thanks to Sydney and Melbourne

Exports of Australian services have been growing faster than goods exports, growing by 10 per cent in 2014-15 and 9 per cent the year before that. 

But which states account for the bulk of services exports?

In a nutshell, all but two thirds of services are accounted for by New South Wales (41.3 per cent) and Victoria (24.4 per cent).


Not only do the two most populous states account for most of the services exports, the growth rates are by a huge margin fastest in these two states. 

Not to put too fine a point on it, Australia's economy would be toast without its two largest cities, Sydney and Melbourne.

And with the economies of Sydney and Melbourne holding the economy aloft in 2016, the figures this year will be even more skewed towards the big two.

We'd be stuffed without them, the state accounts showed as much. 

As for what services exports comprise, the below pie chart reveals all, with travel for business, leisure, and education featuring very prominently (in fact, travel accounts for 89 per cent of Tasmania's services exports, for example).  


Although China is the biggest consumer of Australian services exports, services trade is relatively speaking quite well spread across Hong Kong, Taiwan, New Zealand, United States, Canada, United Kingdom, Switzerland, Singapore, India, Japan, Korea, Malaysia, and a number of other Asian countries. 

As such, exports are growing in a reasonably diversified and sustainable fashion, particularly into Asia.

Contrast this with goods exports, where until relatively recently just two countries have been accounting for around half of our exports. 

Sydney and Melbourne - the twin heartbeats of Australian services exports.

And thank goodness they are!