In 2020，Australia-Japan economic and trade cooperation had showed a significant decline due to the impact of the epidemic. In terms of trade in goods and services，Australia still maintains a surplus；In terms of investment，Japan has maintained a state of sustained growth. Japan fell from Australia’s second largest trading partner to third. Australia and Japan pay more attention to economic security and actively carry out cooperation on resources and energy，digital economy，supply chain and key technologies related to economic stability and risk response，so as to provide conditions for promoting domestic economic recovery and deepening bilateral economic and trade cooperation. Australia attaches more importance to Japan and actively develops its relations with Japan to provide guarantee for promoting bilateral economic and trade cooperation. Since 2021，Australia-Japan economic and trade cooperation has gradually picked up，and will show an expanding and deepening development trend under the continuous strengthening of the “Australia-Japan special strategic partnership”.