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($million) Share of total 1991 2019 Percent Change 1991 2019 Australia 2,944 8,896 202.2% 19% 15% UK 1,024 1,572 53.5% 6% 3% Europe (excl. UK)

($million)

Share of total

1991

2019

Percent Change

1991

2019

Australia

2,944

8,896

202.2%

19%

15%

UK

1,024

1,572

53.5%

6%

3%

Europe (excl. UK)

2,018

4,438

119.9%

13%

7%

USA

2,047

5,640

175.5%

13%

9%

Americas (excl. USA)

712

2,041

186.7%

5%

3%

China

186

15,621

8104.8%

1%

26%

Japan

2,611

3,574

36.9%

17%

6%

Asia (excl. China & Japan)

2,566

11,884

363.1%

16%

20%

All other countries

1,664

5,712

264.8%

11%

10%

All Merchandise trade

15,772

59,378

276.5%

100%

100%

The value for the "All Merchandise" export price index for the year ended June 1991 was 831 (June 2002=1000). Find the 2019 price index and calculate a percentage change in the real value of merchandise exports between 1991 and 2019. In what period's prices have you measured real exports? What does the percentage change mean?

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