According to a report published by Australia's Bureau of Resources and Energy Economics (BREE), the value of the country's mineral resource exports to China increased to A$49.9 billion in 2010-11 from A$200 million 20 years before.
In terms of volumes, China accounted for 69 percent of Australian iron ore exports in 2010-11, compared to six percent in 1989-90. Over the period from 1989-90 to 2010-11, China's share of Australian metallurgical coal exports increased from one percent to around 11 percent, while its share of Australian thermal coal exports increased from 0.1 percent to around 12 percent in the same period.
According to worldsteel figures, China's crude steel output increased from 61.58 million mt in 1989 to 683.9 million mt in 2011.
The report underlined the changes Australia-China trade relations have undergone in recent decades, noting that China's commodity demand outlook over the medium term depends on the pace of its economic growth and structural adjustment.