Question

Australia

For the country you are researching, how important is trade (trade as a share of GDP)? What products and services does it export and import? Is there a concerted effort to promote exports to stimulate the economy? With whom does the nation trade? Is it dependent on any particular nation for trade, or does another nation depends on it? Is outsourcing affecting its trade patterns? Does the nation trade only with high-income countries or with low- and middle-income countries as well?

Answer 1

Answers
Trade is the sum of all exports and imports of goods and services measured as a share of gross domestic Domestic Product or GDP. In the year 2018, Australia that rate to GDP was 43%. This was an increase in the previous year a percentage of 1.26.
The top material which is exported by Australia are iron ore, coal briquettes, gold,petroleum gas and wheat. The amount for each of these are 48.2, 47 , 9.1, 20.3. and 4.8 billion dollars respectively. The top products which are imported by Australia are machinery, mineral fuels, vehicles, electrical machinery and equipment, medical and Technical equipment. The value of each of these are 46.2, 43.9, 43.6, 37.1 and 12 billion dollars respectively.
Yes they are concentrated efforts to promote exports to stimulate the economy. The country provides general export assistance to the exporter who want to export to overseas market. These devices provide assistance on doing the business in international market. They help with the international market selection and identifying of development International links, Australia also has an export market development grants scheme which provides financial assistance for the exporters. It provides grants And reimburses The Eligible small and medium sized business for the export promotion and their expenses. Export finance Australia provides financial support to overcome financial barriers whenever they are extending their business in the overseas market. They work with the exporters and their banks to provide them loans and insurance so that the needs can be met.
The top countries with which China trade are china, Japan, United states of America, Korea ,Singapore New Zealand and United Kingdom.
The country is mostly dependent on China for trade because China accounts for 23.1 of the total trade of Australia. Other major traders are USA 9.6 and Japan 9.1. It does not entirely depend on any Nation neither does any Nation depend on it.
No Outsourcing is not affecting its trade partners.
Australia mainly trades with high income Nations. There are also medium income Nations like India which Australia trade with.

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