The Impact of International Protection Levels on Australia (HSC SSCE Economics): Flashcards
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Impact of 10% global tariff reduction on Australia's GDP
Impact of 10% global tariff reduction on Australia's GDP
0.6% annual boost
EU Common Agricultural Policy share of EU budget
EU Common Agricultural Policy share of EU budget
Over one-third
OECD agricultural subsidies as % of farm incomes
OECD agricultural subsidies as % of farm incomes
17-18%
Australian wine exports to China before 2020 tariffs
Australian wine exports to China before 2020 tariffs
USD 1.3 billion annually
Aus wine exports to China in 2023 after tariffs
Aus wine exports to China in 2023 after tariffs
USD 12.4 million (99% reduction)
Annual cost to Aus agriculture from global barriers (ABARES)
Annual cost to Aus agriculture from global barriers (ABARES)
USD 8-10 billion per year
Trade barriers for Australian mining/resources
Trade barriers for Australian mining/resources
Very few - high demand, no domestic alternatives
Services: % of Aus economy vs % of exports
Services: % of Aus economy vs % of exports
70% of economy, <20% of exports
Main barriers to services trade (not tariffs)
Main barriers to services trade (not tariffs)
Government regulations and practices
Purpose of Australian Domestic Gas Security Mechanism
Purpose of Australian Domestic Gas Security Mechanism
Restrict LNG exports during gas supply shortages