Services are Queensland’s third-largest export
Services exports are a key driver of Queensland’s economic prosperity. The state’s third largest export category was valued at $16.7 billion in 2024.
Queensland’s top services exports during 2024 included:
- international education and training ($6.8 billion)
- professional, business and other services ($5.1 billion) including:
- technical, trade-related and other business services ($973 million)
- research and development services ($562 million)
- legal, accounting, management consulting, public relations and other professional services ($438 million)
- personal, cultural, and recreational services ($259 million)
- international tourism exports ($4.8 billion).
Services also boost the strength, reach and global reputation of Queensland businesses. Their continued growth and diversification highlight the sector’s strategic role in driving economic development and job creation in Queensland.
In 2024, the US was Australia’s second largest services export market valued at $15.7 billion, just behind China ($16.8 billion) and ahead of India, the UK and New Zealand. This reflects strong global demand and opportunities to further diversify Australian service exports.
Recent tariffs have upended global trade and investment
US tariffs have heightened uncertainty, reduced investor confidence and could reorientate global supply chains.
Impact of tariffs on services
During Trade and Investment Queensland's (TIQ) statewide roundtable series, numerous enquiries were raised regarding the application of tariffs on services. To date the recent US tariffs do not apply to services exports, however there could be secondary and indirect impacts.
Potential sectors impacted
- International education and research partnerships: Restrictions and regulatory uncertainty could discourage student mobility and reduce collaborative academic efforts.
- Digital services: Emerging digital trade barriers and potential retaliatory measures in certain jurisdictions could slow internation innovation and data exchange.
While services exports are not direct impacted by new US tariffs, the sector remains vulnerable to policy changes, geopolitical risk and barriers to talent, each posing ongoing challenges.
Tariff of 100% prosposed for foreign films
In May 2025, President Trump proposed a 100% tariff on foreign-produced films, however, to date no further details have been released by the Administration.
Stay up to date
To stay informed on the latest changes and exemptions, refer to the White House Clarification of Exemptions.
For more detailed information on specific product tariffs, including applied rates, exemptions, and official definitions, consult the Harmonized Tariff Schedule (HTS), which provides comprehensive classification details, chapter notes, and section notes relevant to U.S. trade.
Please see Austrade Go Global Toolkit for additional information on the support for Australian businesses impacted by the US tariff changes.