Australia's Pattern of Trade Flashcards
1
Q
factors affecting exports
A
size of the economy
structure of the economy
relative competitiveness
geographic location
2
Q
factors affecting trade intensity
A
relative size of the economy
location relative to foreign markets
barriers to trade
3
Q
Australia’s main 5 exports
A
Iron ore Coal Natural gas Education Gold
4
Q
Australia’s main 5 imports
A
Personal travel Refined petroleum Passenger motor vehicles Telecom equipment Computers
5
Q
Australia’s trade: GDP ratio
A
46%
6
Q
definition of trade intensity
A
the proportion of trade relative to GDP
7
Q
trade intensity
A
trade intensity% = ( X + M )/ GDP x100
8
Q
Australia’s top 5 trading partners
A
China Japan U.S.A. Republic of Korea UK
