International Trade: Overview, Partners, and Impact on Australia

international trade
partners
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Table of Contents
INTRODUCTION...........................................................................................................................3
Overview of the international trade of Australia.........................................................................3
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
The international trade in the organisations are helping in improving the performance.
The organisations are having the businesses beyond the political boundaries and they have many
factors that will impact the decisions. International trade is the exchange of goods and services in
the internation markets of the organisation (Antimiani and Kutlina-Dimitrova, 2020). The
exports and imports are the most important factor of the international trade. The exports means
selling the goods out of the country and import means purchasing the goods and services from
other countries. The organisations have to expand the businesses and the countries will have
international trade when they have less resources and wants the goods and services from
different countries.
Overview of the international trade of Australia
Australia is an island economy that is having the internal trade and the most important
factor and they have 40% of the exports. From the point of view of by Daniel Workman, the
global sales of Australia is US$272.4 billion worth of the exports from the international trading.
The Australia's largest trading partners are Great Britain and Europe. The trading has a shift from
the Britain to Asia and across the globe (Australia’s Top Trading Partners. 2021). The Australia
exports many products from the countries and they are meat, machinery, transport equipment,
wheat, gold, iron ore, coal and minerals. The challenging trade environment of the global
countries have not affected the businesses of the Australia and they have achieved growth in
2018-19.
The top exports of Australia is the minerals, services and energy. In 2017-18 the top
exports of the Australia was in the services and they had a rise in good by 10%, services by 9%
and consumption goods by 2%. The exports of the goods reduced by 0.4% and services increased
by 2%. China, Japan and US are the largest exporters and importers of Australia.
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