HSC Economic TextBook: Topic 2 Summaries

Australia's trade and financial flow
Composition of trade the type of goods and services exported and imported
Direction of trade the countries with which Australia trades
Trends in Australia's Trade Patterns
Trade has always represented a high proportion of Australia's economic activity. This is because Australia has always had products that are in demand elsewhere. It is also partly because Australia has needed to trade in order to obtain new technology and items that ate not produced in Australia because of its relatively small population size.
The changing direction of trade (the c…