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