Exporting is one of the key elements of international trade, which is the purchase, sale or exchange of goods and services across national borders. One country’s exports become another country’s imports.
In today’s increasingly globalised world the annual value of international trade in the form of exports and imports is estimated to exceed $12 trillion. In recent years world trade has consistently grown at a faster rate than world output.
World merchandise exports in the form of manufactured goods, minerals and agricultural commodities account for 80% of international trade, with services comprising the other 20%. However the proportion of services in global trade is continuing to increase.
Exporting is crucial for a nation’s growth, competitiveness and employment. It is estimated that exports provide more than 20% of Australia’s gross national income and that more than 1.7 million jobs nationally are dependent upon the export sector.
Describes how exporting can deliver benefits to businesses.
All business activity involves some risk. Describes potential export risks.