Eco Topic 2 stats Flashcards
What is the change in % of exports being agricultural sector from 1989-2020?
23% –> 12%
What is the change in % of exports being from the minerals and metals sector from 1989-2020?
33% –> 50% of exports from 1989 - 2020
What was the % of exports being from manufacturing in 2020?
Declined to 12%
How much has level of foreign investment into Aus changed from 1980?
It has doubled
What is the % increase in exports to China from 2000 to 2021?
Shift from 4.4% in 2000 to 38.8% in 2021
What is the % decline in exports to Japan from 2000 to 2021?
Exports decreased from 17.3% in 2000 –> 10% in 2021
What is the % decline in exports to the US from 1990 to 2021?
Change from 11.6% to 5.3%
How much worth of iron ore does Aus export to China?
$105bn USD
What % of export earnings do agricultural and mining exports make up?
2/3 of export earnings
What is the decline of Agricultural exports due to CAP?
decline by 13%
What is the change in worth of resources export volumes from 1997 to 2021?
1997 - 25bn
2021 - 57bn
What is the change in worth of services export volumes from 1997 to 2021?
10bn –> 21-22bn prior to 2020, before dropping to 16bn in 2021
What is the change in worth of manufacturing export volumes from 1997 to 2021?
change from 5bn in 1997 to 10bn in 2021
What is the change in the AMOUNT of resource exports of iron ore from 2004/5 –> 2020/21?
63Mt –> 205 Mt
What is the change in iron ore as a % of exports from 2001 –> 2011?
15.5% to 57%
What is the change in the AMOUNT of resource exports of LNG from 2004/5 –> 2020/21?
3Mt in 2004/5 –> 18Mt in 2020/21
What is the change in the AMOUNT of resource exports of coal from 2004/5 –> 2020/21?
Stagnated at around 100Mt, largely attributed to the large concerns about the environment
How has the share of capital goods as a % of total imports changed from the 1990s to 2020s
Stagnated at around 20% of total imports
How has the share of consumer goods as a % of total imports changed from the 1990s to 2020s
risen from 17.7% to 26%
How much were Aus total imports valued at?
$459 billion
What % of total exports were directed to thee EU from 1990 to 2021?
10.9% –> 3.8%
What % of total exports were directed to thee Japan from 1990 to 2021?
23.9% –> 10%
What % of total exports were directed to thee China from 2000 to 2021?
4.4% –> 38.8% in 2021
How much did China account for iron ore exports?
80%
What % of total imports were from China from 1990 to 2021?
5.7% –> 24% of imports
How much were Aus exports worth in 2021/22?
$595bn, ncrease from $459bn in 2020/21
How much did growth in minerals and meals increase from 2020/21 –> 2021/22?
$301bn –> $413bn
What % of workforce is in services industries? WHat % of exports do services account for?
3/4 of workforce in service industries, makes up 20% of exports
How have Aus imports changed?
Transport services (13.5% of imports), motor vehicles, parts and accessories (8.1% of imports). (1963-64)
to
Personal travel services (11% of imports), PMV imports (5.1% of imports)
What needs to be discussed when talking about AUs industry structure?
Share of gdp, and employment for services, mining, manufacturing, agriculture and forestry and fishing industries
What is the share of GDP and % labour force for the services industry?
71.9% of GDP, employs 88.6% of labour force
What is the share of GDP and % labour force for the mining industry?
Mining: 11.1% share of GDP, employs 1.9% of labour force
What is the share of GDP and % labour force for the manufacturing industry?
6.1% share of GDP, employs 6.9% of labour force
What is the share of GDP and % labour force for the agriculture, forestry & fishing industry?
2% share of GDP, employs 2.6% of labour force
What % of exports do iron and coal make uup?
30% of all exports
How has the price of iron or changed from 2003 to the peak of commodities boom in 2008?
$32/ton in 2003 –> $145 ton
What was the leading export in 1960s to leading exports in 2022/23?
1960s, wool; 34.5% of share of exports, A$962m
2022/23; iron ore and concentrates, 16.4% of imports, $77, 198m
What stats are important to remember in trends in financial flows? (6)
How much has investment overseas increased from 1980?
What % of total investment into Aus does FDI account for in 2021? Compare to 2014
What % of total investments does portfolio investment account for? Compare to 2014
Where are investment sources mainly from, what %?
What are the largest stocks of FDI in Aus industry, how much?
How much was invested into the Aus eco in 2021-22?
How much has investment overseas increased from 1980?
Investment overseas is greater than 100x what it was in 1980
What % of total investment into Aus does FDI account for in 2021? Compare to 2014
FDI accounts for 26% of total investment into Aus in 2021, this is around the same as the levels in 2014
What % of total investments does portfolio investment account for? Compare to 2014
Accounts for 47% of total investment, a decrease from 53% in 2014
Where are investment sources mainly from, what %?
Investment sources are mainly from the US (25.5%) and UK (17.4%)
What are the largest stocks of FDI in Aus industry, how much? Why is it significant?
Largest stock of FDI in Australian industry is mining ($360bn), real estate ($136bn), Financial and Insurance activities($123bn).
Emphasises foreign liabilities
How much was invested into the Aus eco in 2021-22?
4.4 trillion
TRENDS IN SIZE AND COMP OF AUS BOP
s
What was the average of Australia’s CAD in the 2000s?
Average of 4.6% of GDP in the 2000s
What is the average household savings ratio average from 2005-2019? What did it jump to due to covid
Ratio was around 4%, before jumping to 24% due to covid
What is the net foreign debt of Aus as a % of GDP in 2016, compared to 1980?
1980 - 6.3% of GDP
2016 - 63.8% of GDP
What was Aus external debt as a % of Aus nominal GDP?
115.3%
What was net foreign equity into Aus in 1980 vs its peak?
$24bn in 1980, to $81bn at its peak
What is the change in FDI in net inflows as a % of GDP from 1990 to its peak in 2004, to 2021?
1990: 2.7%
peak in 2004: 7%
1.9% in 2021
When was the start of CA surplus recently, how much?
Surplus in June quarter 2019, $5.853bn
What should be discussed when looking at the CAS in June quarter 2019? (5)
BOGS surplus
NPY deficit
Exports
Imports
TOT
What was thee BOGS surplus in June quarter 2019?
Surplus of $19.6bn
What was the NPY deficit in June quarter 2019?
Deficit of $13.9bn
What was the change in exports and imports in the June quarter 2019
Exports up 4.8%, imports fell 3.6%, driven by weak wage growth
When was the first CAD after 13 consecutive quarters of CA surplus, and how much was it by?
CAD of $2.3bn as of Sept quarter 2022
What was the change in CA balance from June quarter to September quarter 2022?
CA balance decreased by 17bn from June quarter
What was the NPY deficit in Sept quarter 2022? What was the change?
NPY deficit was $33.2bn, widened by $6.4bn
What was the change in net goods from June quarter to Sept quarter in 2022?
Decreased by $8.8bn
What was the change in net services from June quarter to Sept quarter in 2022?
Net services decreased by $2.3bn from June quarter
What to discuss when discussing the CAD in Sept quarter 2022?
Change in CA balance
NPY deficit + it’s change
Change in net goods and net services from previous quarter
What was the lowest point in BOGS, how much?
2015-16; low of -37.8bn
WHat was th highest point in BOGS, how much?
High of 135.9bn in 2021-22
What was the peak NPY deficit, how much?
Peak NPY deficit in 2021-22, 33.2bn
When was KAFA at its highest, how much?
highest in 2015/16 at 82.8bn
When was KAFA at its lowest, how much?
Lowest in 2020-21 at -$54.3bn
How much in transactions are made in the AU market daily?
$134bn transactions in Au market daily
What countries are important to consider the trends in, when looking at TWI values? (4)
Japanese Yen
United States Dollar
Chinese renminbi
European Euro
What is the change in the Jap Yen from 2017–> 2022?
Japanese Yen has been slightly increasing(10.7 (2017) → 12.5(2022))
What is the change in the United States dollar from 2017–> 2022?
United States Dollar has decreased in relative significance(10.3(2017) → 8.2 (2022))
What is the change in the Chinese renminbi from 2017–> 2022?
Chinese renminbi has become more important (weighting of 27.46(2017) → 30.7 (2022)).
What is the change in the European Euro from 2017–> 2022?
European Euro has stagnated at around 9.7
Exchange rate changes
saod
What are the important periods of time for Aus exchange rates, with their relevant events? (8)
2003-08: MIB I (Mining Investment boom)
2008-09: GFC
2010-13 MIB II (Mining Investment Boom 2)
2013-16: End of mining investment phase, enter mining production phase
2016-17
2019:
2020:
2022:
What was the appreciation/depreciation in 2003-08: MIB I
Appreciation:
$A rose from $US 0.47 (2001) to $0.94 peak in 2008
What was the appreciation/depreciation in 2008-09: GFC
Rapid depreciation: $A fell to $US0.62 March 09 (7 year low)
What was the appreciation/depreciation in 2010-13 MIB II?
$A peaked at $US 1.11 in 2011, 23% increase from US$0.87 in July 2010.
What was the appreciation/depreciation in 2013-16: End of mining investment phase
Depreciation:
June 2014 $0.93, $US0.73 in May 2016
What was the appreciation/depreciation in late 2016-17
Appreciation:
$A rose to US$ 0.80
What was the appreciation/depreciation in 2019?
Depreciation: $A fell to $US 0.69
What was the appreciation/depreciation in 2020-21: Covid
Appreciation: $A 0.62 in March 2020 –> $0.77 in 2021
What was the appreciation/depreciation in 2022?
Depreciation: Depreciation from $0.72 in Feb 2022 → low of $0.63 in Oct 2022
What stats to remember for MIB I? (6)
How much the appreciation was
Change in TWI
What % of mining sector was foreign owned?
Change in iron ore prices
Evidence of two speed economy
Investment in mining sector
What is the change in TWI for MIB I?
rose from 50 to 75
What % of mining sector was foreign owned during MIB I?
80% of mining sector was foreign owned at its peak
What was the change in iron ore pricees in 2003 –> 2011?
Change from 15 USD/ tonne –> 180 USD/ tonne
What is some evidence for a two speed economy during MIB I?
From 2003-2008, average growth in mining states was 4.7% compared to others which was 2.2%
What was the increase in investment in mining sector between 2003-2012?
Investment in mining increased from 2% to 8% of GDP between 2003-2012
What are some important stats to remember for GFC? (6)
Change in exchange rate value
Change in TWI
Financial outflows/inflows from Aus
How much RBA intervened
Aus trade surplus
Aus grwth rate vs rest of the world
What was the change in TWI during the GFC?
TWI fell to below 60
How did GFC affect financial outflows from Aus, and its effect on the KFAS
Financial outflows from Australia due to GFC caused KFAS↓ from $72.5bn to approx. $40bn
How did the RBA intervene with the Aus forex market? (how much)
Purchased 3.3 billion of $A in forex market –> increased demand for aud
What was Aus’ trade balance during GFC, why?
Aus recorded a trade surplus of 6 million in 2008, the first in over a decade, largely due to China’s strong EG
Change in Aus growth rates vs US
AU growth rates dropped to 1.7% during GFC whilst global growth rates fell to negative growth (US: -8%)
Important stats for MIB II? (4)
Change in appreciation/depreciation of the currency
Change in TWI
Change in iron ore prices
Aus interest rates + ir differentiials with the US
What is the change in TWI during MIB II?
Reached 97 in 2013; post float high
What are the changes in iron ore prices for MIB II? What did the TOT increase to?
Rose to $US 180/ton –> Increased TOT to 118
What is Aus i/r rate and differential during MIB II?
Cash rate of 4.75% in 2010, ir differential is Aus 4.75% compared to US 0%
What are important stats to remember for the end of mining investment phase?
Change in exchange rates
Change in TWI
Change in ToT
Change in commodity price index
Change in iron ore prices
RBA’s influence on AUD
What is the change in TWI for the end of the mining investment phase?
TWI fell from 71.3 to 60 (Jan 2016)
What is the change in ToT for the end of the mining investment phase?
Decrease from 102 to 71
What is the change in commodity price index during end of mining investment phase?
Iron ore prices decreased from 180 USD per tonne in 2011 to 40 USD per tonne in 2016
What was the RBA’s influence on the AUD during end of mining investment phase?
cutting cash rate since 2013 to decrease interest rate differential with overseas rates. Aim to $US0.70 to assist the manufacturing and service export sectors of the economy.
What stats to remember for eco in 2019
Appreciation/depreciation
RBA cut in i/r
Global EG
What was the RBA cut in i/r during 2019?
The Reserve Bank cut interest rates from 2011-2019 from 4.75% to 1.50%, lowering the interest rate differential between Australia and overseas
What was the Global EG during 2019?
Global economic growth Slowed to 3% with decreased commodities prices and a lower term of trade
What stats are important to remember for 2020-21?
Appreciation/Depreciation
Net goods and services
iron ore price
What were the net goods and services of Aus in 2020-21? Increase from 2018, 2019?
Net goods and services of 18.4 bn demonstrates relatively strong demand for Aus X, This was quite a significant increase in net g+s since 2018 7.1bn, 15.4bn in 2019
What were the iron ore prices peaking at in 2020-21?
8 year high iron ore price of $160/ton
