What are imports and exports of Australia

Australia economy

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From 1929 to 1933, Australia suffered from the Great Depression. The dependence on wheat and wool exports began to take revenge. As prices fell worldwide, unemployment rose and low-income households in particular found themselves in dire straits.

The industry was concentrated in the capitals of Australia from the beginning of the colonial era. The concentration of industrial jobs in the densely populated areas reached its peak in 1971/1972. In those years, 87.7% of all industrial jobs in Western Australia were in Perth, 85.4% in Victoria in Melbourne, 82.9% in South Australia in Adelaide and 76.4% in New South Wales in Sydney. The main drivers of this development were the European immigrants, their share of employment in craft and industry is disproportionately high. By 1960 the rate of those employed in the commercial and industrial sector could be increased to approx. 29%.

In the 70s investments shifted to the mining sector. Only multinational corporations could take on the risk factors of a development in remote, climatically unfavorable areas and the risk of being heavily dependent on world market prices. There was a boom in raw materials. As early as 1980, Australia was first in the world for exports of iron ore, lead and bauxite (alumina), second in coal and tungsten and third in zinc. In addition, Australia is the fourth largest gold producer in the world.

The recession of 80s hit Australia's economy hard. Due to the worldwide fall in prices, many jobs in the commercial and industrial sector were cut, so that their share fell to 21% in 1980 (unemployment rate 11%). Mining did not bring enough new employment opportunities either, since mining and export are highly technical and carried out by fewer and fewer workers. There was also a marked decline in jobs in agriculture.

In order to be able to compete on the world market, there were company amalgamations and expensive human labor was replaced by machines. For this reason, the share of the agricultural labor force fell from 13% (1960) to 6% (1980). Nevertheless, in 1980 Australia was the front runner in exports of beef and wool, second in exports of sheep meat and third in exports of wheat and sugar.

The 90s were characterized by a consolidation and opening of the economy. The Labor government under Paul Keaton, which pushed through a broad privatization offensive of state-owned companies, played a decisive role in this. The cooperation with the Southeast Asian and South Pacific states was enormously strengthened by the membership and strengthening of the.

In the 2000s the Economy on a solid footing. Australia looked back on many years of growth: The country was able to cope with the global economic crisis quite well, but it was already reacting to it, not least of which was noticeable on the labor market. Nevertheless, unemployment remained manageable. In some industries and occupations there is even a labor shortage. For example with nursing staff, but also with teachers and engineers. Since Australia is still the land of longing for those willing to emigrate, those who can serve such jobs may have a chance.

Both Export goods coal is currently in first place, with a share of total exports of 12%, especially from the large open-cast mining areas in central Queensland. The mining areas in New South Wales (Hunter Valley) not only serve to supply Australian iron ore smelting and energy production, but they also promote the export rate. In second place is the export of gold with a share of 7%, followed by wool with 6%, iron ore (from the large mining areas in the Pilbara region, Western Australia) with 5% and aluminum oxide (clay) with 4%.

But also the Agriculture is at the forefront. About 80% of all agricultural products are exported. Because of the climatic conditions, arable farming and agriculture can mostly only be carried out on the coasts. In the southeast are Wine-growing areas. But the bulk of agriculture is livestock farming. One of the most important export goods was and is wool. About 25% of the wool used worldwide comes from Australia. Raising sheep and selling the wool is still a dream of many emigrants.

They also rely on the marketing of Australian lamb and sheep meat. Furthermore, the skin, the fur of the sheep is not only used in the wool sector. Leather for boots and shoes has been made from lambskin for a number of years. Ugg shoes, feel-good boots, even ideal for wearing barefoot in summer - that stands for Australian sheepskin. And is now an export hit.

The natural material combines many properties that are ideal for use as footwear. Sheepskin shoes promote blood circulation in the feet so that they stay evenly warm. Since wool can absorb a lot of moisture, you don't sweat and your feet stay warm and dry. Lambskin is made up of protein proteins. Viruses, bacteria and fungi cannot survive on it. For this reason, lambskin shoes are often recommended for medical reasons. The material is used in many ways. Winter boots and are particularly popular Sheepskin slippers, but also gloves and jackets are made from it. In addition, lambskin is often used as a mat for babies and toddlers.

Both Imports Mechanical and plant engineering products occupy a dominant position with a share of 33%, followed by transport equipment (16%), chemicals and petroleum derivatives (12%) and raw metal products (including steel, 5%).

The world market prices for the Australian export products come under pressure again and again and fall in the long term. In the case of agricultural products, this is partly caused by subsidies that are common in the EU and the USA. The situation is completely different for imported products, where prices are rising in the long term. Because of these price shifts, when comparing import and export products, the "terms of trade" do not develop favorably for Australia. To be balanced trade balance To achieve this, ever larger quantities of mining and agricultural products must be exported.

The most significant Trading partner Australia is made up of Japan with a share of 27% of the total foreign trade volume, the USA (10%), South Korea and Singapore (6%), New Zealand (5%) and Germany (2%).

Growth tendencies shows only the service sector. In Australia, the share of employees in this branch was already 58% in 1960, then rose to 73% by 1980 and is now over 75%.

The tourism is with all its areas (airlines, tour operators, hotels, restaurants, etc.) the largest employer in the country (approx. 500,000 employees) and the economic sector with the highest growth rates. In 1996, 3.5 million visitors (including around 125,000 from Germany) came to the red continent. Annual rates of increase are firmly planned. Total tourism revenues were around A $ 10 billion and were the largest source of foreign currency in the country in the 1995/96 financial year. Australia is hoping for a multiple increase in income in the next few years and expects around 6 million visitors annually, medium and long-term forecasts are even more optimistic. At least in the last few years, these forecasts have not been a solid basis, as reality has regularly caught up with them. The Tourism Forecasting Council (TFC) has published its new forecast for the number of visitors to Australia and expects 4.6 million international visitors to Australia in 2003, which would mean a decrease of 5.3%. For the year 2004 the forecasts a growth of a whopping 9.8% and thus breaking the mark of 5 million international visitors.

Despite the assurances of the tourism manager, everything within the framework of the Environmental sustainability What needs to be done, the planned number of visitors gives cause for reflection. For example this is The Great Barrier Reef is already heavily polluted by sewage and boat traffic. Corals are damaged and destroyed by anchors and trespassing. If the number of visitors increases many times over, the existence of the eighth wonder of the world is threatened. As a result of this development, the Australian government is making funds available in many areas, including, for example, measures to reduce waste and educate people about environmentally friendly tourism. The program for the promotion and enforcement of further protected areas (in the form of national parks) is to be stepped up.

With an economic growth of 2.4%, Australia could no longer match the result of the previous years in 2001 (2000: 3.2%; 1999: 4.8%), but the growth was well above the average of all industrialized countries. Domestic demand in particular ensured that the economic downturn was not worse, while exports suffered losses. Among the highly developed industrial countries, the country has retained its character as an important raw material export country the most to this day. Over 60% of exports are made up of agricultural and mining products (wool, meat, wheat or coal, iron ore, gold, bauxite, petroleum, etc.). The economy is therefore considerably dependent on the corresponding world market prices, most of which fell in 2001. The strong trade ties with the USA on the one hand and Japan and other countries in East and Southeast Asia on the other hand turned out to be just as unfavorable. The economic problems in these countries also had a negative impact on Australian export opportunities. The modernization and diversification of industry that has taken place in recent years have had a positive impact. Their production grew by around 3.0% in 2001 (mechanical engineering, computer technology, vehicle industry, raw material processing, etc.), and their share of exports increased. The government's efforts to reduce high unemployment were unsuccessful; it rose from 6.3 (2000) to 6.7%. The inflation rate developed more favorably, falling from 4.3 (2000) to 3.2% (2001).

The Australian economy continued to grow in 2003 for the twelfth year in a row. After growth of 3.75% (2003/04), growth of 3.5% is expected for 2004/05. The other economic data are also encouraging: the unemployment rate is 5.7%, the lowest level in 23 years. The rate of inflation and interest rates are low. The new budget provides for another surplus. The national debt is almost completely reduced.

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