Australia is one of the major exporter in the world for past decade. The
trade agreement between Korea and Australia was signed during late
1960s and significant trade improvements were also made to European
nations by Australia. This led to the drastic improvements of
international export and imports since 1960 to 2020
This study will accomplish the objective by performing statistical
analysis using SPSS and excel to summarise the historical perspective of
international trade relations of Australia.
The main goal of this study is to analyse and report on Australia’s
international trade from historical perspective
exports and imports of
Australia’s export strategy and free trade has
been rapidly changing during 1963 – 2019.
Despite of such strategy, there was remarkable
increase in Australia’s export share during this
The export trends has shifted from major trade
partners from European nations to rapidly
growing Asian nations.
Graphical estimate of
Australian export share
during 1963 - 2020
Time series estimate of
trade export and import of
The percentage change of the exports of
Australia from world trade value of
exports are mostly negative.
The negative percentage change
illustrates the decrease of exports. The
reduced exports was observed during
2010 – 2011, 2013 – 2014 and 2018 –
2019 in Australia. (De Silva, 2014)
TASK 2 EXTENT OF TRADE INTEGRATION OF
AUSTRALIA TOWARDS WORLD ECONOMY
Trade Openness of Australia
The degree of trade integration of Australia was
estimated by calculating the trade openness of Australia
using the historic data.
The trade openness of Australia shows increases trend
line during 1963 to 2019. The trade openness was very
low during 1962 – 1969.
The increase of trade openness was remarkably
increased during 1970.
The trade openness was low during 2005 – 2008. Strong
open trade policies always paves way for the economic
growth for all nation
Trade openness of Australia
1963 - 2019
TASK 3 REVEALED COMPARATIVE ADVANTAGE
(RAC) OF TRADE EXPORTS
Products with Top Ten RAC
in 2000 in world
Product code Productvalue
Revealed Comparative Advantage (RAC) is
defined as ratio of Australia’s total share on
export of goods and services and world’s
export of share on same goods and services.
The values of RAC ranges from 0 to infinity.
RAC value is observed to be increasing over
these ten years.
The 2020 shows less figure due to the
pandemic situation that could have impacted
the economy of world.
Top Ten products based on
Product code Exportvalue
Top ten exports in Australia
during 2019 based on
The above product codes was observed
to possess top ten products all over the
world exports during 2000 – 2020.
The above three tables reveal that top
exported products during 2000 in all over
the world and 2019 in Australia has
The export value of the product code 732 was top of the ten in all
instances with high RAC value during 2000, total exports performed
during 2000 – 2020 in world and Australian exports during 2019.
RAC value is observed to be increasing over these ten years
The estimated top ten nations of export partners for Australia during
2000 – 2019 are China, Japan, Korea, USA, New Zealand, India, Other
Asian nations, Singapore, Indonesia, Malaysia and unspecified nation
The study observed that Australia possess significant share on world’s export and
imports during 1960 till 2020. The increase trade openness of Australia during 1960
to 2020 is due to the free trade agreement made by Australia.
Most of the products exported by mining and technology products. Australia has
built up a serious edge in a scope of labor and products, from high-innovation
items, for example, clinical and logical hardware through to excellent wine and
prepared food. Significant administrations sends out incorporate schooling and the
travel industry, and proficient and monetary administrations.
Administrations by Australian organizations working abroad give a significant
commitment to Australia's economy. Australia keeps on pushing ahead with
exchange progression singularly, respectively and multilaterally.
This will reinforce worldwide financial joint effort, diminish the dangers confronting the
worldwide economy, and support development. Australia assumes a functioning part in
the WTO, APEC, the G20 and other exchange related discussions.
Australia has additionally arranged two-sided and local economic accords with a wide
scope of nations to reinforce exchange and venture streams.
Around 70% of Australia's two-way labor and products exchange is with nations with
whom we have either an in-power or a closed international alliance, in light of 2018
exchange information. 73% exchange of Australia is with APEC countries. (DFA, 2021)
The main aim of the study is to quantitatively estimate and compare the
international trade practices of Australia.
The data was gathered from secondary web sources such as data world etc.
The study identified that Australia contribute significant amount of world’s total
The RAC level of products exported by Australia is less than 1.
The product code 732 was significantly exported at high rates since 2000 by
Australia. China, Japan, Korea, USA, New Zealand, India, Other Asian nations,
Singapore, Indonesia, Malaysia and unspecified nation are the top ten export
partners of Australia during 2000 to 2019.
The historical perspective analysis using time series data revealed that Australia’s
export aggregate continue to increase since 1963 to 2019.
DFAT. (2020). Trade through time, Available online: DFAT – Trade
DFA. (2021). Australian Trade, available online: Trade | Australian
Government Department of Foreign Affairs and Trade (dfat.gov.au)
RBA. (2020). Trade patterns of Australia on economy.
De Silva (2014). Export Trends and Free Trade of Australia, Available
online: オーストラリア研究紀要 ４０号（Ｐ）☆／５．Ｓｉｌｖｅｒ