Essay On International Trade Performance Of Australia

This Essay has been prepared to understand the International Trade Performance of Australia. The aim of this essay is making a clear picture of Australia’s contribution in the International market place discussing Australia’s trade policy, Exports and import magnitudes of Australia, the major Trading Partners of Australia in the international trade, their Annual Trade Balance indicating the reasons behind it and future movement of Australia’s international trade.
Australia"s Trade policy aims to create jobs by increasing the sustainable rate of economic growth. Its central task is to secure the best possible conditions and opportunities, especially better market access, for Australian firms and industries trading and investing overseas. The challenges of globalization - the increased opportunities overseas and the increased competition from overseas have made our foreign trade and investment efforts central to the well-being of all Australians. Responding to the challenges, Australians are increasingly to be found doing business overseas and in more diverse places and products than ever before [Trade Outcomes and Objectives Statement 1997, p- 1 – on line].
Australian trade policy progressed with some Australian Governments targeted trade policy objectives like as- a.To raise continually Australia"s international competitiveness, b.To secure better market access for Australian goods, services and investment overseas, c.To develop markets and promote Australian business and exports overseas, d.To promote Australia as a destination for inward foreign investment (including as a destination for regional corporate headquarters), e.To develop markets and promote Australian business and exports overseas. [Trade Outcomes and Objectives Statement 1997, p-17-18]
Australia is a stable with their skilled workforce with a strong competitive economy. The economic position of Australia has the most outstanding of the world in recent years. A higher growth, low inflation and...