Australian Bureau of Statistics

Rate the ABS website
ABS Home > Statistics > By Release Date
1370.0 - Measures of Australia's Progress, 2010  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 15/09/2010   
   Page tools: Print Print Page RSS Feed RSS Bookmark and Share

Competitiveness

Ratio of imports to GDP(a)
Graph Image for Ratio of imports to GDP(a)

Footnote(s): (a) Year ending 30 June.

Source(s): ABS Balance of Payments and International Investment Position, Australia, September 2009 (cat. no. 5302.0)

OPENNESS

Openness can be measured by the relative level of overseas trade and investment flows into the national economy. It can also be assessed from the negotiation of free trade agreements or the barriers that a country places on trade and investment flows across its borders. Ideally an indicator of openness would measure both the size of, and barriers to, flows of trade and investment. However, there is currently no single indicator that measures barriers to investment.

The goods and services that other countries trade with Australians are indicators of openness. For example, Australia's openness to imports provides Australians with wider choices of goods and services. In this section openness is measured by the ratio of imports to GDP. Between the period 1989 to 2009 the ratio generally increased, ranging from a low of 16% in 1991 to a peak of 22% in 2009.

The increased openness of Australia's economy over this period was influenced by the lowering of barriers to the imports of goods and services and capital inflows, for example the decrease in the average tariff rates applied by Australia and an increase in multilateral, regional and bilateral trade negotiations. However, the ratio of imports to GDP is also affected by factors aside from the openness of the economy, for instance, fluctuations in the exchange rate of the Australian dollar and changes in world commodity prices.

RELATED PAGES

  • Competitiveness and openness glossary
  • Competitiveness and openness references
  •  

    Previous Page | Next Page



    Bookmark and Share. Opens in a new window

    Commonwealth of Australia 2014

    Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.