Non Monetary Q Petroleum example essay topic
432 words
What are Australian's major export groups? Who do we export to? How has our export position changed over time? The major export groups are: q Mineral fuels, lubricants and related materials q Machinery and transport equipment (excluding road vehicles) q Metalliferous ores and metal scrap q Coal, coke and briquettes q Gold, non-monetary (excluding gold ores and concentrates) q Petroleum, petroleum products and related materials q Meat and meat preparations We export to: q Japan q The United States of America q Singapore q The Republic of Korea q Taiwan q Vietnam q China q The United Arab Emirates Australia's export structures have changed considerably over the past 20 years. Although trade in commodities remains strong, new services and sophisticated manufacturing export markets have emerged. Australia is generating new strength as a supplier of advanced goods and services.
Over the 1990's, exports of elaborately transformed manufactures (E TMs), with high levels of value-adding, have grown at an average annual rate of 14 per cent, well above the growth rate for these products in Japan and Germany. Products such as components for mechanical and electronic equipment, as well as assembled motorcars, have recorded strong growth in the last decade. On the domestic front, Australia has taken significant steps to open its own economy further. Tariffs have been reduced to five per cent or less in almost all sectors, quotas have been eliminated and non-tariff barriers significantly reduced. The major import groups are: q Road vehicles (including air-cushion vehicles) q Electrical machinery, apparatus, appliances, parts (including non-electric counterparts of electrical domestic equipment) q Petroleum, petroleum products and related materials q Telecommunications and sound recording and reproducing apparatus and equipment q Medicinal and pharmaceutical products q Transport equipment (excluding road vehicles) q Articles of apparel and clothing accessories q Office machines and automatic data processing machines We import from: q Japan q The United States of America q Singapore q The Republic of Korea q Vietnam q China q The United Arab Emirates Changes are also in the composition of merchandise imports. In 1950, the main categories were basic materials (19%), fuels and lubricants, transport equipment (each about 10%), machinery (16%) and other manufactures (35%).
Today the leading commodity categories of imports are machinery (43%), transport equipment (33%) and other manufactures (24%). Also illuminating is the fact that capital goods and industrial supplies together account for 67% of merchandise imports, which is about the same share as 60 years earlier and consumer goods also experienced little change (around 43% then and now).
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