RBA Annual Conference – 2001 a Monetary Union in Asia? Some European Lessons

Table 1: Bilateral Trade
Per cent of total trade, 1999
China Japan Korea Malaysia New Zealand Philippines Thailand Hong Kong Indonesia Singapore
Australia 2.1 4.0 3.2 2.3 10.0 1.1 2.0 1.8 2.6 3.4
China   9.1 6.3 1.4 0.3 0.8 1.4 25.7 1.8 2.7
Japan   6.9 4.2 0.7 3.0 4.2 5.3 3.4 4.7
Korea   2.7 0.5 2.3 1.4 3.7 3.1 3.3
Malaysia   0.5 2.3 3.4 2.0 2.0 16.5
New Zealand   0.3 0.4 0.3 0.4 0.5
Philippines   1.9 1.8 0.9 3.5
Thailand   2.0 1.9 5.9
Hong Kong   0.9 4.5
Indonesia   5.1
Denmark France Germany Italy Netherlands Sweden UK Austria Finland Greece Ireland Portugal Spain
Belgium 1.1 10.9 8.3 4.0 12.3 2.5 7.1 1.2 1.0 0.7 1.9 1.3 3.6
Denmark   1.5 3.2 1.3 2.1 7.7 2.4 0.9 3.0 0.8 1.1 0.8 1.3
France   13.2 11.1 7.3 1.1 11.4 1.7 1.1 1.0 2.2 2.5 11.8
Germany   10.2 12.3 3.4 9.3 8.7 2.0 1.0 1.9 1.9 5.9
Italy   4.4 1.8 5.6 3.8 1.0 2.5 1.2 1.7 7.2
Netherlands   3.4 8.8 1.7 1.6 0.9 2.1 1.2 3.6
Sweden   3.9 1.1 6.7 0.8 1.1 0.9 2.2
UK   1.4 1.9 0.8 9.1 1.8 5.2
Austria   0.9 0.6 0.4 0.6 1.7
Finland   0.8 0.7 0.7 1.0
Greece   0.4 0.4 1.2
Ireland   0.4 1.5
Portugal   11.1
  Asia Asia-Oceania Europe  
Average 4.2 3.4 3.5