Essay Stats Flashcards
First point
Current high commodity prices - (Brazilian Mine Disaster Feb 2019 + COVID). leading to increase in iron ore prices
Second point
China strong recovery from COVID - increase demand for commodity prices.
Third point
I/r differential
Fourth point
US-China trade war
Fifth point
Mining boom - 2003
Sixth point
I/r rate differential post GFC + AAA credit rating
Following the onset of the pandemic, the AUD fell to a ___ year low from US$__-US$__ from ___ - ____
17
US$0.70-$US0.55
Dec 2019 - March 2020
The AUD has since appreciated to where it is now at:
US$0.78
May vary
The Brazilian mine disaster occurred in:
January, 2019
From the mining disaster brazil shut of ___% of their iron ore X by ____
More than 50
April, 2019
Following the COVID pandemic, Brazils exports fell __% in ____ .
40
April 2020
Due to increased iron ore prices, Aus TOT is now at ____ for the first time since ____.
Over 100
2012
Iron ore prices reached a __-year high of $___ per tonne in ____.
12
200
Dec,2020.
Aus iron ore X currently account for ___ of total X.
36%
China accounts for ___% of Aus X in 2019.
36.1%
China provides ___% of Aus M in 2019.
24.5%
Aus X to China dropped by ___% in ___.
Over 20%
First quarter of 2020.
BOGS recorded its largest surplus ever of ___ in 2019 -2020.
77.4 billion
Australia’s reached a record high NPY deficit of ___ in ____
$60.9 billion.
2018-2019
Australia’s NPY deficit recently reduced to ____ in ____.
$40.2b
2019-2020.
From the trade war, tariffs were placed on ___ worth of Chinese goods and services.
US$250b.
____ Chinese workers faced structural UE from these tariffs.
3.5 million.
From 2018-start of 2020 Chinese economic growth reduced from:
7%-6%.
The trade war is expected to result in $___ drop in eco growth in Australia from 2018-2023 and the loss of ___ jobs.
$36b
60,000 jobs
US and China make up __% of AUs foreign investment.
30%
Australia adopted a floating XR in ___
1983
Historically from ___-___ AUD averaged:
1993-2014
$US0.77
XR reached an all-time high of ___ in ___.
$US1.10 in 2011.
XR reached an all-time low of ___ in ___.
$US0.48 in 2001.
At the turn of the century Aus XR was below:
$US0.60
After the mining boom commodity prices skyrocketed from ___ to ___ from ___ to ___. according to the _____.
40-135
2003-2011
RBA price index
Percentage of Aus X to China tripled from ___ to ___ in ___-___.
8%-24.3%
2000-2010
From __ to ___TOT doubled from approximately ___ to ___.
2000-2010
60-120
After the GFC in 2008, Aus XR temporarily plummeted from $US___ - $US0___by ____.
0.96-0.64
Jan,2009
During the GFC the cash rate of the US and the Eu dropped to ___ and ___ respectively.
0&1%
AUs cash rate remained above ___ during GFC.
3%
Aus has had a AAA _____ since ___.
credit rating since 2003.
Direct and portfolio I into Aus increased from ___ to ____ in ____ to ____.
$1.45trillion - $2.1trillion
2005-2006 to 2010-2011.
Aus assets from superannuation totaled to ____ in the __________.
$3.0 trillion
Last quarter of 2020
What was Australia’s household-saving ratio before the beginning of 2020
Below 5%
I/r in Aus dropped _ times from ___ in ____ to ___ in _____
6
1.5% in May 2019 - 0.1% in Nov 2020
US cash rate is currently __ from ___ in ___.
0% from 2.5% in 2019
2020 CA position
35.8b surplus
China tariffs on wine in ____
Nov 2020 - 107% up t0 212%
China barley tariffs in ___
80% - May 2020
Short term debt decline from ___% - ___% from ___ - ____
15% - 5%
2012-Current
Long term debt __% GDP in -___ to _-% in
40% - 55%
2013-2020
Superannuation originating in ___ - _% gross wage employer contribution
1983
9%
SGC has risen to ___ and is expected to rise to
9.5%
12%
The US-China trade war began in ___
2018
Initially, US imposed __% and __% tariffs on ___ and ___ respectively
10% and 25%
aluminium and steel
Harley Davidson and GM suffered higher input costs of $_____ and $_____ respectively resulting in a loss of ____ jobs predominantly in the motor vehicle industry.
45 mil
1 bil
200,000 jobs
Over $___ Chinese goods and services are tariffed and ____ of US goods and services.
$250b
$100b
EU’S CAP accounts for appox. ___% of farmer Y and makes up ___% of EUs total spending.
19%
40%
Rural services have decreased from __% - ___% from 1990-2020.
23%-10%
Aus has a trade deficit of ___ with the EU.
$29b
Aus agricultural X to EU makes up __% of total agricultural X.
7%
Quota tariffs from Japan and. the US on Aus beef X amount to __% and __% respectively.
38.5% and 17.6% respectively.
___ of beef X go to Japan and US.
2/3
WTO statement that over the next 5 years, quota expected to reduce GWP by __%.
0.2%
According to OECD, the US-China trade war led to a ___ decline in GWP in 2020.
0.7%
ChaFTA was formed in ___
2015
Currently ___% of Aus X to China are now tariff-free which is expected to reduce to ___% in the next __ years.
93%
reduce to 95%
10 years
AANZFTA entered into force in Aus in ___ ___ and comprises of __ countries.
Jan 2010
12 countries
AANZFTA Aims to eliminate at least __% of all tariffs.
90%
Aus has a total of __ FTA’s
15
What was Australia’s S-I gap from 2000-2008?
Hovered from -2%-5%
Average tariff levels in Aus from 1994-1995 to 2018
9% - 0.9%
KAFTA Korea-Australia formed in ___ aims to reduce tariff-free levels from ___ - ___ in the next __ years.
2014
84%-99%
20 years
Since KAFTA, two way trade between Aus and Korea has increased by __
40%
