“c06TheEconomicsOfInternationalTrade_PrintPDF” — 2022/5/31 — 13:29 — page 6 — #6
FIGURE 6.3 How Australia’s exports are divided among our top ten trading partners — nearly 80 per cent of our total exports are sold to only these ten countries. Australia’s top ten trading partners ranked by the percentage of total exports Taiwan 2.7%
Malaysia 2.2%
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New Zealand Singapore 3.3%
China 35.3%
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United Kingdom 4.4%
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3.6% India 3.9%
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United States 5.8%
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Republic of Korea 5.8%
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Japan 11.8%
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Source: Data derived from Australian Government, Department of Foreign Affairs & Trade, Trade & Investment at a Glance, 2019–20, page 18.
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6.2 Activities
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6.2 Quick quiz
6.2 Exercise
6.2 Exercise
Define what is meant by international trade. Outline two reasons why most countries trade internationally. Distinguish exports from imports. List the main types of goods and services that Australia (a) exports and (b) imports.
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1. 2. 3. 4.
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Jacaranda Key Concepts in VCE Economics Units 1 & 2 Twelfth Edition
(1 mark) (2 marks) (1 mark) (2 marks)
