Total trade, exports plus imports, now accounts for over two fifths of the economy. A decade ago, it accounted for only a third or so. They mean that Australia is much more open than it was. And because it is more open, it has become richer and a better place to live. Trade works its wonders in many ways.
Higher exports help pay for goods and services that are more cheaply produced abroad.
The need to compete in world markets forces companies to become more efficient. And exporting firms provide good, high-paying jobs. Exporting firms also provide more employee consultation, more job security and more training. In short, they are better employers. The best security workers have is a healthy balance sheet.