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ECO Y12 > Eco Topic 2 stats > Flashcards

Eco Topic 2 stats Flashcards

1
Q

What is the change in % of exports being agricultural sector from 1989-2020?

A

23% –> 12%

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2
Q

What is the change in % of exports being from the minerals and metals sector from 1989-2020?

A

33% –> 50% of exports from 1989 - 2020

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3
Q

What was the % of exports being from manufacturing in 2020?

A

Declined to 12%

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4
Q

How much has level of foreign investment into Aus changed from 1980?

A

It has doubled

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5
Q

What is the % increase in exports to China from 2000 to 2021?

A

Shift from 4.4% in 2000 to 38.8% in 2021

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6
Q

What is the % decline in exports to Japan from 2000 to 2021?

A

Exports decreased from 17.3% in 2000 –> 10% in 2021

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7
Q

What is the % decline in exports to the US from 1990 to 2021?

A

Change from 11.6% to 5.3%

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8
Q

How much worth of iron ore does Aus export to China?

A

$105bn USD

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9
Q

What % of export earnings do agricultural and mining exports make up?

A

2/3 of export earnings

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10
Q

What is the decline of Agricultural exports due to CAP?

A

decline by 13%

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11
Q

What is the change in worth of resources export volumes from 1997 to 2021?

A

1997 - 25bn

2021 - 57bn

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12
Q

What is the change in worth of services export volumes from 1997 to 2021?

A

10bn –> 21-22bn prior to 2020, before dropping to 16bn in 2021

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13
Q

What is the change in worth of manufacturing export volumes from 1997 to 2021?

A

change from 5bn in 1997 to 10bn in 2021

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14
Q

What is the change in the AMOUNT of resource exports of iron ore from 2004/5 –> 2020/21?

A

63Mt –> 205 Mt

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15
Q

What is the change in iron ore as a % of exports from 2001 –> 2011?

A

15.5% to 57%

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16
Q

What is the change in the AMOUNT of resource exports of LNG from 2004/5 –> 2020/21?

A

3Mt in 2004/5 –> 18Mt in 2020/21

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17
Q

What is the change in the AMOUNT of resource exports of coal from 2004/5 –> 2020/21?

A

Stagnated at around 100Mt, largely attributed to the large concerns about the environment

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18
Q

How has the share of capital goods as a % of total imports changed from the 1990s to 2020s

A

Stagnated at around 20% of total imports

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19
Q

How has the share of consumer goods as a % of total imports changed from the 1990s to 2020s

A

risen from 17.7% to 26%

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20
Q

How much were Aus total imports valued at?

A

$459 billion

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21
Q

What % of total exports were directed to thee EU from 1990 to 2021?

A

10.9% –> 3.8%

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22
Q

What % of total exports were directed to thee Japan from 1990 to 2021?

A

23.9% –> 10%

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23
Q

What % of total exports were directed to thee China from 2000 to 2021?

A

4.4% –> 38.8% in 2021

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24
Q

How much did China account for iron ore exports?

A

80%

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25
Q

What % of total imports were from China from 1990 to 2021?

A

5.7% –> 24% of imports

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26
Q

How much were Aus exports worth in 2021/22?

A

$595bn, ncrease from $459bn in 2020/21

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27
Q

How much did growth in minerals and meals increase from 2020/21 –> 2021/22?

A

$301bn –> $413bn

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28
Q

What % of workforce is in services industries? WHat % of exports do services account for?

A

3/4 of workforce in service industries, makes up 20% of exports

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29
Q

How have Aus imports changed?

A

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)

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30
Q

What needs to be discussed when talking about AUs industry structure?

A

Share of gdp, and employment for services, mining, manufacturing, agriculture and forestry and fishing industries

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31
Q

What is the share of GDP and % labour force for the services industry?

A

71.9% of GDP, employs 88.6% of labour force

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32
Q

What is the share of GDP and % labour force for the mining industry?

A

Mining: 11.1% share of GDP, employs 1.9% of labour force

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33
Q

What is the share of GDP and % labour force for the manufacturing industry?

A

6.1% share of GDP, employs 6.9% of labour force

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34
Q

What is the share of GDP and % labour force for the agriculture, forestry & fishing industry?

A

2% share of GDP, employs 2.6% of labour force

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35
Q

What % of exports do iron and coal make uup?

A

30% of all exports

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36
Q

How has the price of iron or changed from 2003 to the peak of commodities boom in 2008?

A

$32/ton in 2003 –> $145 ton

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37
Q

What was the leading export in 1960s to leading exports in 2022/23?

A

1960s, wool; 34.5% of share of exports, A$962m

2022/23; iron ore and concentrates, 16.4% of imports, $77, 198m

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38
Q

What stats are important to remember in trends in financial flows? (6)

A

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?

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39
Q

How much has investment overseas increased from 1980?

A

Investment overseas is greater than 100x what it was in 1980

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40
Q

What % of total investment into Aus does FDI account for in 2021? Compare to 2014

A

FDI accounts for 26% of total investment into Aus in 2021, this is around the same as the levels in 2014

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41
Q

What % of total investments does portfolio investment account for? Compare to 2014

A

Accounts for 47% of total investment, a decrease from 53% in 2014

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42
Q

Where are investment sources mainly from, what %?

A

Investment sources are mainly from the US (25.5%) and UK (17.4%)

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43
Q

What are the largest stocks of FDI in Aus industry, how much? Why is it significant?

A

Largest stock of FDI in Australian industry is mining ($360bn), real estate ($136bn), Financial and Insurance activities($123bn).

Emphasises foreign liabilities

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44
Q

How much was invested into the Aus eco in 2021-22?

A

4.4 trillion

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45
Q

TRENDS IN SIZE AND COMP OF AUS BOP

A

s

46
Q

What was the average of Australia’s CAD in the 2000s?

A

Average of 4.6% of GDP in the 2000s

47
Q

What is the average household savings ratio average from 2005-2019? What did it jump to due to covid

A

Ratio was around 4%, before jumping to 24% due to covid

48
Q

What is the net foreign debt of Aus as a % of GDP in 2016, compared to 1980?

A

1980 - 6.3% of GDP

2016 - 63.8% of GDP

49
Q

What was Aus external debt as a % of Aus nominal GDP?

A

115.3%

50
Q

What was net foreign equity into Aus in 1980 vs its peak?

A

$24bn in 1980, to $81bn at its peak

51
Q

What is the change in FDI in net inflows as a % of GDP from 1990 to its peak in 2004, to 2021?

A

1990: 2.7%

peak in 2004: 7%

1.9% in 2021

52
Q

When was the start of CA surplus recently, how much?

A

Surplus in June quarter 2019, $5.853bn

53
Q

What should be discussed when looking at the CAS in June quarter 2019? (5)

A

BOGS surplus
NPY deficit
Exports
Imports
TOT

54
Q

What was thee BOGS surplus in June quarter 2019?

A

Surplus of $19.6bn

55
Q

What was the NPY deficit in June quarter 2019?

A

Deficit of $13.9bn

56
Q

What was the change in exports and imports in the June quarter 2019

A

Exports up 4.8%, imports fell 3.6%, driven by weak wage growth

57
Q

When was the first CAD after 13 consecutive quarters of CA surplus, and how much was it by?

A

CAD of $2.3bn as of Sept quarter 2022

58
Q

What was the change in CA balance from June quarter to September quarter 2022?

A

CA balance decreased by 17bn from June quarter

59
Q

What was the NPY deficit in Sept quarter 2022? What was the change?

A

NPY deficit was $33.2bn, widened by $6.4bn

60
Q

What was the change in net goods from June quarter to Sept quarter in 2022?

A

Decreased by $8.8bn

61
Q

What was the change in net services from June quarter to Sept quarter in 2022?

A

Net services decreased by $2.3bn from June quarter

62
Q

What to discuss when discussing the CAD in Sept quarter 2022?

A

Change in CA balance

NPY deficit + it’s change

Change in net goods and net services from previous quarter

63
Q

What was the lowest point in BOGS, how much?

A

2015-16; low of -37.8bn

64
Q

WHat was th highest point in BOGS, how much?

A

High of 135.9bn in 2021-22

65
Q

What was the peak NPY deficit, how much?

A

Peak NPY deficit in 2021-22, 33.2bn

66
Q

When was KAFA at its highest, how much?

A

highest in 2015/16 at 82.8bn

67
Q

When was KAFA at its lowest, how much?

A

Lowest in 2020-21 at -$54.3bn

68
Q

How much in transactions are made in the AU market daily?

A

$134bn transactions in Au market daily

69
Q

What countries are important to consider the trends in, when looking at TWI values? (4)

A

Japanese Yen

United States Dollar

Chinese renminbi

European Euro

70
Q

What is the change in the Jap Yen from 2017–> 2022?

A

Japanese Yen has been slightly increasing(10.7 (2017) → 12.5(2022))

71
Q

What is the change in the United States dollar from 2017–> 2022?

A

United States Dollar has decreased in relative significance(10.3(2017) → 8.2 (2022))

72
Q

What is the change in the Chinese renminbi from 2017–> 2022?

A

Chinese renminbi has become more important (weighting of 27.46(2017) → 30.7 (2022)).

73
Q

What is the change in the European Euro from 2017–> 2022?

A

European Euro has stagnated at around 9.7

74
Q

Exchange rate changes

A

saod

75
Q

What are the important periods of time for Aus exchange rates, with their relevant events? (8)

A

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:

76
Q

What was the appreciation/depreciation in 2003-08: MIB I

A

Appreciation:
$A rose from $US 0.47 (2001) to $0.94 peak in 2008

77
Q

What was the appreciation/depreciation in 2008-09: GFC

A

Rapid depreciation: $A fell to $US0.62 March 09 (7 year low)

78
Q

What was the appreciation/depreciation in 2010-13 MIB II?

A

$A peaked at $US 1.11 in 2011, 23% increase from US$0.87 in July 2010.

79
Q

What was the appreciation/depreciation in 2013-16: End of mining investment phase

A

Depreciation:
June 2014 $0.93, $US0.73 in May 2016

80
Q

What was the appreciation/depreciation in late 2016-17

A

Appreciation:

$A rose to US$ 0.80

81
Q

What was the appreciation/depreciation in 2019?

A

Depreciation: $A fell to $US 0.69

82
Q

What was the appreciation/depreciation in 2020-21: Covid

A

Appreciation: $A 0.62 in March 2020 –> $0.77 in 2021

83
Q

What was the appreciation/depreciation in 2022?

A

Depreciation: Depreciation from $0.72 in Feb 2022 → low of $0.63 in Oct 2022

84
Q

What stats to remember for MIB I? (6)

A

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

85
Q

What is the change in TWI for MIB I?

A

rose from 50 to 75

86
Q

What % of mining sector was foreign owned during MIB I?

A

80% of mining sector was foreign owned at its peak

87
Q

What was the change in iron ore pricees in 2003 –> 2011?

A

Change from 15 USD/ tonne –> 180 USD/ tonne

88
Q

What is some evidence for a two speed economy during MIB I?

A

From 2003-2008, average growth in mining states was 4.7% compared to others which was 2.2%

89
Q

What was the increase in investment in mining sector between 2003-2012?

A

Investment in mining increased from 2% to 8% of GDP between 2003-2012

90
Q

What are some important stats to remember for GFC? (6)

A

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

91
Q

What was the change in TWI during the GFC?

A

TWI fell to below 60

92
Q

How did GFC affect financial outflows from Aus, and its effect on the KFAS

A

Financial outflows from Australia due to GFC caused KFAS↓ from $72.5bn to approx. $40bn

93
Q

How did the RBA intervene with the Aus forex market? (how much)

A

Purchased 3.3 billion of $A in forex market –> increased demand for aud

94
Q

What was Aus’ trade balance during GFC, why?

A

Aus recorded a trade surplus of 6 million in 2008, the first in over a decade, largely due to China’s strong EG

95
Q

Change in Aus growth rates vs US

A

AU growth rates dropped to 1.7% during GFC whilst global growth rates fell to negative growth (US: -8%)

96
Q

Important stats for MIB II? (4)

A

Change in appreciation/depreciation of the currency

Change in TWI

Change in iron ore prices

Aus interest rates + ir differentiials with the US

97
Q

What is the change in TWI during MIB II?

A

Reached 97 in 2013; post float high

98
Q

What are the changes in iron ore prices for MIB II? What did the TOT increase to?

A

Rose to $US 180/ton –> Increased TOT to 118

99
Q

What is Aus i/r rate and differential during MIB II?

A

Cash rate of 4.75% in 2010, ir differential is Aus 4.75% compared to US 0%

100
Q

What are important stats to remember for the end of mining investment phase?

A

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

101
Q

What is the change in TWI for the end of the mining investment phase?

A

TWI fell from 71.3 to 60 (Jan 2016)

102
Q

What is the change in ToT for the end of the mining investment phase?

A

Decrease from 102 to 71

103
Q

What is the change in commodity price index during end of mining investment phase?

A

Iron ore prices decreased from 180 USD per tonne in 2011 to 40 USD per tonne in 2016

104
Q

What was the RBA’s influence on the AUD during end of mining investment phase?

A

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.

105
Q

What stats to remember for eco in 2019

A

Appreciation/depreciation

RBA cut in i/r

Global EG

106
Q

What was the RBA cut in i/r during 2019?

A

The Reserve Bank cut interest rates from 2011-2019 from 4.75% to 1.50%, lowering the interest rate differential between Australia and overseas

107
Q

What was the Global EG during 2019?

A

Global economic growth Slowed to 3% with decreased commodities prices and a lower term of trade

108
Q

What stats are important to remember for 2020-21?

A

Appreciation/Depreciation

Net goods and services

iron ore price

109
Q

What were the net goods and services of Aus in 2020-21? Increase from 2018, 2019?

A

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

110
Q

What were the iron ore prices peaking at in 2020-21?

A

8 year high iron ore price of $160/ton

ECO Y12 (14 decks)

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