Australian Exports: Global Demand and the High Exchange Rate
Growth in Australian exports was weaker than had been expected over the past 10 years across all major categories: resources, rural, manufactures and services. While exports of bulk commodities and liquefied natural gas (LNG) grew strongly in response to higher demand from Asia, this was partly offset by declines in exports of oil and processed metals. Non-resource exports have been adversely affected by the appreciation of the exchange rate and the ongoing rise in the share of global production occurring in emerging economies. Looking ahead, the surge in mining-related investment since the mid 2000s is expected to lead to stronger growth in resource exports over the next five years. As incomes grow further in emerging Asia, demand for Australia’s exports of food products, high-skilled manufactures and services is also expected to rise.
Volume (Year): (2013)
Issue (Month): (June)
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References listed on IDEAS
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- Nikola Dvornak & Marion Kohler & Gordon Menzies, 2005.
"Australia's Medium-Run Exchange Rate: A Macroeconomic Balance Approach,"
The Economic Record,
The Economic Society of Australia, vol. 81(253), pages 101-112, 06.
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- Vanessa Rayner & Emily Laing & Jamie Hall, 2011. "Developments in Global Food Prices," RBA Bulletin, Reserve Bank of Australia, pages 15-22, March.
- Michael Plumb & Christopher Kent & James Bishop, 2013. "Implications for the Australian Economy of Strong Growth in Asia," RBA Research Discussion Papers rdp2013-03, Reserve Bank of Australia.
- David Jacobs, 2011. "The Global Market for Liquefied Natural Gas," RBA Bulletin, Reserve Bank of Australia, pages 17-28, September. Full references (including those not matched with items on IDEAS)
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