Dynamics of Development of Production and Export of Agricultural Products in the Context of Foreign Trade in Australia

Abstract

The agricultural sector is one of the main branches of the Australian economy and of the country’s exports. This contributes to the considerable level of agricultural development and resource specialisation in international trade in general. Ukraine in this respect is like Australia, which makes the current state of the agrarian sector in both countries relevant. The purpose of this study was to investigate the state of the agricultural sector in Australia and find elements of development that would help change the Ukrainian agriculture. Statistical methods, such as graphical and statistical analysis, became the main methods in the study. This is conditioned upon the formation of conclusions mostly based on statistical information, graphs and tables presented in the article and constructed with statistical TradeMap. During the study, the author concluded that the fate of agricultural exports in the country was reduced due to the current orientation of the country towards the export of resources, namely iron. Within the structure of export of agricultural products, considerable changes are taking place, the main of which is the transition to production of animal products. Ukraine may adopt some features of the sector in Australia, namely how the country is conducting investment policy in the sector. Nevertheless, it was found that there are significant differences in the agricultural sector of both countries. Because of this, it is impossible to completely change the plan of operation of the Australian agriculture. Research on the future development of the industry in Australia, considering current trends and their impact on foreign policy and trade in the country, may be promising. This article will be useful for studying the functioning of the economy of Australia and Ukraine, namely their agricultural sectors; to form the national policy of the agrarian sector and foreign trade; for students to learn economic disciplines and write corresponding theses

Keywords

• agricultural sector; economy; resources; international trade; population