Essays on Singapore Imports and Exports from 1995 - 2015 Assignment

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The paper "Singapore Imports and Exports from 1995 - 2015" is an outstanding example of a macro & microeconomics assignment. The criticism by Peter Martin has been accurate for the last few years. In 1995, the trade value of exports was more that of imports. In Singapore, the trade value of imports in 1995 was at $1,784,022,691 while the exports were at $2,758,781,208. In 1995 in Thailand, exports were higher than the imports. That is; the imports were at $721,448,286 while the exports were at $1,222,473,297. After the FTA, the imports grew more than the exports through the exports also increased.

However, since the FTA, the imports and exports have also improved. The graphs below represent the imports and exports among Singapore, the USA, and Thailand from 1995 to 2015. Figure 1: Singapore Imports and Exports from 1995 - 2015 According to the graph above, imports have been boosted more than exports in Singapore. Therefore, Peter Martin is accurate in saying that trade agreements boost imports more than the exports in a country. The exports improved, not as much as the imports though, as shown in the graph. Figure 2: Thailand Imports and Exports from 1995 - 2015 Based on the graph above, it is clear that from 1998 the trade value of imports in Thailand has been greater than that of Exports.

However, since signing the FTA in 2003, the exports in Australia have increased highly and constantly grow linked to before the FTA, where exports and imports were low. Figure 3: USA Imports and Exports 1995-2015 According to the graph above, the imports in the USA have always had a higher trade value than the exports from1995 to 2015.

The exports have had a small trade value over the years as perceived in the graphs above. Therefore, there is sufficient evidence to support Peter Martin on criticizing that the trade agreements boost exports since evidence provided by the three countries statistics prove that the trade agreements support the exports. Trade improved in Australia as demonstrated in the graphs above as it started changing in 2003 when the FTAs were signed.

References

Australian Government. (2015). Korea-Australia Free Trade Agreement. Guide to Using KAFTA to Export and Import Goods, 1-20.

dfat. (2015). Rues of Origin and Implementation Proedures. Chapter 3: Section A: Rules of Origin, 15-31. Retrieved from https://dfat.gov.au/trade/agreements/chafta/official-documents/Documents/chafta-chapter-3-rules-of-origin-and-implementation-procedures.pdf

Feenstra, R. C. (2015). Advanced international trade: theory and evidence. New York: Princeton university press.

Hummel, P., & Brian, K. (2015). Sequential or simultaneous elections? A welfare analysis. International Economic Review, 851-887.

Martin, P. (2016). The Election Campaign's other Big Lie: The Coalition hasn't Delivered Export Agreements. Aftinet Bulletin, 1 --2.

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