Australia's Trade and Exports Quiz 2024

<p>Primary Commodities (A)</p> Signup and view all the answers

<p>25% (C)</p> Signup and view all the answers

<p>50% (A)</p> Signup and view all the answers

<p>Australia's location in the Southern Hemisphere. (A)</p> Signup and view all the answers

<p>All of the above. (D)</p> Signup and view all the answers

<p>Australia performs remarkably well. (D)</p> Signup and view all the answers

<p>Global output and economic activity are concentrated in the Northern Hemisphere. (B)</p> Signup and view all the answers

<p>It would likely be significantly higher. (D)</p> Signup and view all the answers

<p>Brazil (C)</p> Signup and view all the answers

<p>Australia's export performance is better than expected given its relative size. (C)</p> Signup and view all the answers

<p>Iron ore (B)</p> Signup and view all the answers

<p>Iron ore, coal, and natural gas (A)</p> Signup and view all the answers

<p>A significant increase in the mining resources sector (A)</p> Signup and view all the answers

<p>Australia's lack of land borders with other countries (B)</p> Signup and view all the answers

<p>Advances in communications and transportation (D)</p> Signup and view all the answers

<p>Wheat (C)</p> Signup and view all the answers

<p>Approximately 3% (B)</p> Signup and view all the answers

<p>Australian consumers reading newspapers published in the United Kingdom (D)</p> Signup and view all the answers

<p>Manufactured goods make up a larger percentage of imports than services. (A)</p> Signup and view all the answers

<p>Rapid spread of economic shocks (E)</p> Signup and view all the answers

<p>The value of education services is often underestimated. (A)</p> Signup and view all the answers

<p>Isolation from major economic hubs (C)</p> Signup and view all the answers

<p>Australia's main exports are mining resources. (D)</p> Signup and view all the answers

<p>It showed the dependence of Australia on international trade and supply chains (D)</p> Signup and view all the answers

<p>None of the above (D)</p> Signup and view all the answers

<p>Coal (A), Iron ore (C), Natural gas (D)</p> Signup and view all the answers

<p>Growing awareness of global environmental issues (A)</p> Signup and view all the answers

<p>20% (A)</p> Signup and view all the answers

<p>$110.7 billion (D)</p> Signup and view all the answers

<p>$6.3 billion (A)</p> Signup and view all the answers

<p>$18.6 billion (C)</p> Signup and view all the answers

<p>Tourism (D)</p> Signup and view all the answers

<p>$327 billion (A)</p> Signup and view all the answers

<p>Telecom equipment (C)</p> Signup and view all the answers

<p>50% (C)</p> Signup and view all the answers

<p>Mining (C)</p> Signup and view all the answers

<p>Geographic isolation (D)</p> Signup and view all the answers

<p>27% (A)</p> Signup and view all the answers

<p>Trade creation and trade diversion (D)</p> Signup and view all the answers

<p>Protectionist policies (B)</p> Signup and view all the answers

<p>18 (B)</p> Signup and view all the answers

<p>Manufactured goods (D)</p> Signup and view all the answers

In 1990, trade accounted for 30% of Australia's GDP; by 2024, it increased to nearly 50%.

Australia accounts for 1.5% of global exports, compared to 11.5% for China.

Australia ranks 21st as a world exporter of goods and services.

Despite being 21st in exports, Australia is the 12th largest economy.

Australia's location in the southern hemisphere affects its export ranking.

A country's exports are influenced by economy size, competitiveness, and location.

Australia's isolation as an island continent limits trade connections.

Australia's export performance is remarkable on a per capita basis.

The difference between exports and imports of a country.

Goods and services sold by Australia to China, totaling $219 billion in 2023.

Iron ore, constituting the majority of Australia's exports to China.

Key products imported by China include iron ore, natural gas, and education services.

Goods and services purchased by Australia from China, totaling $108 billion in 2023.

China is Australia's largest trading partner, essential for the economy.

China is the largest market for Australian services, such as education and tourism.

Australia's total trade with China valued at around $327 billion in 2023.

Iron ore, coal, and natural gas account for half of exports.

Education services ranked higher than gold and beef in exports.

Australia’s export categories have grown significantly since 2000.

Personal travel, refined petroleum, and passenger motor vehicles are key imports.

Manufactured goods dominate Australia's imports, along with some services.

The mining resources sector has grown to dominate Australia’s exports.

Australia imports multiple services along with goods.

Personal travel contributes significantly to Australia’s import statistics.

The ratio of total trade (exports + imports) to GDP.

Geographic position affecting Australia's trade rank.

71% of Australia’s exports come from commodities.

Asia accounts for 80% of Australia’s exports and 56% of imports.

China is Australia’s most important trading partner, making up 27% of total trade.

Australia has 18 FTAs with 30 economies to promote trade.

Australia primarily exports iron ore, coal, and education services.

Australia imports cars, computers, iPhones, and coffee.

Australia's main trading partners include China, the U.S., and Korea.

Trade is vital for Australia's economic prosperity due to its isolation.

The global economy allows quick spread of shocks like pandemics.

Australia attracts significant foreign investment from various countries.

The world is a global market for goods, services, and finance.

Improvements in communication and transport facilitate global trade.

Consumption goods, machinery, and intermediate goods are key imports for Australia in 2024.

Iron ore, coal, and natural gas are the leading exports from Australia, constituting almost half of total exports.

Intermediate goods account for 33% of Australia’s total imports in 2024.

Education and personal travel are significant service exports, ranked fourth and sixth respectively.

Eight out of the top ten Australian exports are primary commodities, indicating a reliance on natural resources.