EXTERNAL TRADE ENVIRONMENT AND PATTERNS Sample Clauses

EXTERNAL TRADE ENVIRONMENT AND PATTERNS. Trade data is only available up until 2003. As shown in Table 7, total exports in 2003 were A$4.5 million (€€ 2.6 million). This represented a 71 % decline compared to 1999 and 87 % compared to 1975. It is understood that exports in 2004 decreased to A$4 million (€€2.4 million). In contrast, imports of A$79.5 million (€€45.7 million) in 2003 were 125 % of the 1999 total and 857 % of that in 1975. It is reported that imports were A$97 million (€€59.5 million) in 2005 and A$87 million (€€51.5 million) in 2004. The increase was due to imported infrastructure components and materials for various government projects carried out in 2005. Table 8 shows that Asia is the main export destination, but Oceania is the main source of imports. There is limited trade with EU member states. Key export products are aquarium fish, seaweed and copra (table 9). It is reported that there was a significant drop in the exportation of Copra in 2004 and 2005 after the establishment of the Copra Mill. Although there was an increase in the copra production, 810 tons was required for the Copra mill at a lower price as compared to the world market price.
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