Question

Discuss how the global COVID-19 pandemic can impact Australia’s exports in general. Also, discuss the impact of the pandemic on domestic demand for Australian red meat.

Answer 1

The world is now paralysed under the grip of the deadful pandemis of COVID-19. It has completely altered the day to day life. The entire economy has been paused, which eventually bought about enormous chanes in the economic pattern of the country.

The stagnation of the entire world economy bought about stagnation in the import and export market of the world completely. Australia being no exception, the Australian trade has completely paused. The demand for exports of Australia in the world market have fallen to a large extent. This ultimatey led to the decline in Australian exports.

Just as the external trade was stagnant, the internal Australian trade has also paused. The entire economy was under lockdown for a long time. People were forced to stay in the houses. The internal demand has fallen, to a grat extent. The demand for meat in the Australian market has reduced considerably, s the restaurants and closed and citizens are not allowed to go out freelu under the pandemic situations.