|
Australia is one of the top economies of the world. Blessed with natural resources, Australia is one of the world's largest exporters of agricultural products. Ever since it has entered into free trade agreements with ASEAN countries, Chile, Singapore, Thailand, New Zealand, and the United States, the economy of Australia has greatly increased. In fact, the Gross Domestic Product (GDP) is an overwhelming 1 trillion US dollars. Consequently, in 2008, Australia was the 14th largest economy, based on its nominal GDP. Moreover, Australia accounts for about 1.7% of the World economy. Other than its high Gross Domestic Product, Australia ranked 21 in the largest global exporter, and ranked 23 in the largest exporter. These are indeed milestones for Australia's economic achievements. Since Australia is one of the most reliable suppliers of high quality goods, its sea and air ports are pretty much busy. As such, its dynamic and efficient sea and air ports contribute to the success of its trading activities. In fact, Sydney and Melbourne act as the major trading centers of Australia for manufactured goods and merchandise. Australia exports its products and merchandise to over 200 countries all over the world. Some of its most important exports include agricultural products and minerals. Agricultural products such as wheat and wool are among the top agricultural exports of Australia. It is worth knowing that wool is the earliest exports of Australia, thus the expression, “Australia riding on the sheep's back,” came about. More importantly, Australia's mineral exports are one of the most globally demanded. As proof of this, Australia was the largest exporter of coal, zinc, tin ores and concentrates in 2006. While Australia functions as a supplier of goods and merchandise to these trading partners, the United States acts as its primary trading partner. With more than $8 billion worth of exports to the United States in 2006, the United States continues to trade with Australia on major products and goods. It's most important exports to the United States include nickel, medicinal preparations, dental preparations, industrial organic chemicals, non-steel finished metal shapes, medical equipment, hospital equipment, wine and related products, and meat products. On the other hand, Australia imports some merchandise from other countries, but more significantly with the United States as well. Of the $17.8 billion in American exports to Australia in 2006, the following product categories had the highest values. Some of these American imports include civilian aircrafts, excavating equipment, pharmaceutical preparations, computer accessories, telecommunications equipment, medicinal equipment, and materials handling equipment. All of these imported products are used for various industrial applications in Australia which contribute favorably to its economic growth. As such, the export and import activities of Australia are the key players in its economic stability. For more details on export import Australia you can search for australia export import information in the internet.
Related Articles -
export import Australia, australia export import,
|
