Economy figures of Australia Essay

The background is about the Electric Bicycles that we take from chinaware, import them, and consider the products in Perth (Australia). We also draw our own website that we quite a little sell online to bulk and ship our motorbikes to any where in Australia. In CIA Factbook, Australia is regarded as an example of a prosperous Western-style capitalist economy, with a per capita GDP at the level of the tetrad dominant West European economies. Since Australia has many natural resources, the country becomes a major make outer of agricultural products, minerals, metals, and fossil fuels.Commodities account for 57% of the value of heart exports, so that a downturn in world commodity prices can have a big impact on the countrys economy. In addition, the report from CIA also nones that Australian government is pushing for change magnitude exports of manufactured goods, but competition in transnationalistic markets continues to be severe. term Australia has suffered from the lo w harvest-time and high unemployment characterizing the OECD countries in the early 1990s and during the upstart financial problems in East Asia, the economy has expanded at a solid 4% annual growth pace in the come by dint of five familys.Below is economy figure of Australia. Table 1 parsimony Figures of Australia Population 21,007,310 (July 2008 est. ) Age Structure 0-14 years 18. 8% 15-64 years 67. 9% 65 years and over 13. 3% (2008 est. ) Literacy definition age 15 and over can read and write total population 99% male 99% Female 99% (2003 est. ) GDP Purchasing post parity $773 billion (2007 est. ) GDP real growth rate 4. 3% (2007 est. ) GDP per capita $37,300 (2007 est. ) GDP composition by sector agri market-gardening 3% industry 26. 4% Services 70. 6% (2007 est. )Inflation rate (consumer prices) 2. 3% (2007 est. ) Industries mining, industrial and transportation equipment, food processing, chemicals, steel Industrial production growth rate 4. 1% (2007 est. ) Exports coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment Exports commodities coal, gold, meat, wool, alumina, iron ore, wheat, machinery and transport equipment Exports partners lacquer 18. 1%, US 8. 7%, China 8. 4%, South Korea 7. 4%, New Zealand 7. 4%, UK 6. 7% (2003 est. ) Imports $160 billion (2007 est. )Imports commodities machinery and transport equipment, computers and spotlight machines, telecommunication equipment and parts crude oil and petroleum products Imports partners China 14. 3%, US 12. 9%, Japan 9. 6%, Singapore 6. 1%, Germany 5. 2%, UK 4. 4%, Thailand 4% (2007) Source primal Intelligence Agency (CIA), 2008 The higher up statistics show that selling bicycle in Australia is attractive since Australia rate China as main import partners. In addition, the market for electric bicycle is quite enormous considering that the number of people at age 15-64 year accounts 67. 9% of total Australian population.1. Technology The development of t echnology in Australia is extensive as Australian university encourages the innovation and invention in either(a) aspects. In addition, the country also consider the intellectual property, which help Australian work to establish and maintain international markets for new technology (IDC, 2008). 2. efficacious and Political The International trade laws and regulations assembled by a country emerged from dissimilar national backgrounds. Countries possessing different geographical structure for example, would produce different export commodities, thus results a different tone of trade laws.Other factors such(prenominal) as the culture of citizens and national politic tendencies have also world-shaking contributions in making a countrys international trade laws. The trade among Australia and China is also based on the quit trade agreement commencing in 2005 in which a study close that there would be significant economic benefits for both Australia and China through the negotiati on of an FTA. Australias export and quarantine laws are design to sustain certain standard of character reference exports goods. It emphasizes on protection towards Australias animals, plants, benignant health and the overall environment.It also emphasizes strict standard regarding certain quality requirements to meet foreign countries satisfaction. They believe that export trade is vital to Australias prosperity and high standard of living. The commitment to ensure export goods and work quality goes all the way, as Australia implement their steps of ensuring quality, which are a. In cooperation with the industry tangled AQIS makes standard requirements on export goods and services and enjoin them in the legislation. b. Industry are guided to implement management systems to strike compliance with the stated lawsc. AQIS systems are obligated to verify the compliance between the goods/service and the laws by investigations. d. AQIS takes a final action of allowing exports activ ities or not allowing, in case of non compliance. 3. Culture The Australian culture is considered as the well-nigh diverse culture in the world due to the people of Australian historically comes from English People thus the main culture in Australia is Anglo Celtic. However, as the world-wideization occurs in Australia, the countrys culture tends to be more Americanized.It suggests that product offering in Australia would in more or less level follow the trends in the U. S. (Mapsofworld. com, 2008). 4. Ethical Considerations and their management The last mentioned prevail away in international trade that will be mentioned in this newspaper publisher is ethics. wrinkle ethics refers various moral and ethical problems that can come on in business activities. The study focuses on how each individual involved within trade activities are burdened with special duties and obligations that must be performed.It emphasizes the importance of ethical guidelines in making business decisi ons. Some big businessman even say that ethics form the very foundation of international economic activities. What we have been surely witness is the increasing attention on business ethics and its applications in line with the more complicated spirit of business and business activities. The importance of ethical guidelines has been increasingly popular lately because of several reasons. First, there is s growing public awareness that societies have the right to expect business to function within ethical boundaries.A company is a part of its community that must live in harmony with the surrounding environment like all individuals and organizations. Furthermore, companies take their resources from their environment, which implies that these companies give something back to their community. For the least, there is an invisible social contract between business and its societies that all business activities will honor and accord with the limitations of justice (England, 2008).In the l ight of this growing awareness of corporate positions in the community, most companies mother and implement a code of conduct that guides their behavior to internal as well as external parties. The code of conduct represents corporate estimation of what behavior is expected out of employees and managers. Furthermore, the latest development in international business revealed the consensus upon the necessity of an international code of ethical practice to stretch out the global economy. These global ethical guidelines consist of the following principlesa. Integration, which means all business activities must never be out of the ethical condition b. Implementation, which means changing all existing activities to match the ethical standards c. Internationalization, which demands one throughout the entire chain of global partnership, frees from cultural sentiments and directed toward the global context (England, 2008).Reference A Successfull Global Trader. Retrieved October 29, 2008 from http//www. dfat. gov. au/facts/search Central Intelligence Agency (CIA).(2008). World Fact book 2004 Australia. Retrieved October 29, 2008 from http//www. cia. gov/cia/publications/factbook/geos/as. html England, Lizabeth. Principles of Business Ethics. Retrieved October 29, 2008 from http//exchanges. state. gov/forum/journal/bus1background. htm IDC. (2008). Innovation & Technology Australia. Retrieved October 29, 2008 from http//www. innovation. org. au/ Mapsofworld. com. (2008). Australia Culture. Retrieved October 29, 2008 from http//www. mapsofworld. com/australia/australia-culture/.