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Friday, May 23, 2014

Analysis of Imports and Exports

     For my first infographic, I chose to do it about imports and exports in each country.  To start with, my three countries are Chile, Germany and Singapore.  One of the similarities that I found between the countries is that petroleum covers up a large percentage from their imports.  This means that citizens in all three countries widely use vehicles.  Especially, Germany provides its citizens many opportunities to use cars in their daily life, such as famous car companies that are easily seen around the whole country and autobahn, which is the German highway that does not have a speed limit.  To add, Singapore is an island, which needs a large amount of fuels for cargo ships to import or export resources abroad.  Another similarity is that two out of my three countries traded similar kind of resources.  As it says on my infographic, Germany imports and exports cars, and Singapore does the same thing with refined petroleum and integrated circuits.  This told me that the two countries do processing trades, which is when a country imports something and produces it again, exporting with a higher price to get profits.
     Moving on to the differences now, the biggest difference I found was the amount of surplus in each country. Germany had the biggest with $260 billion, followed by Singapore with $37.3 billion, and lastly Chile with $2.24 billion. Germany seemed to export relatively expensive products, such as cars, helicopters and space crafts. Whereas, Singapore's exports are comparatively cheaper, such as integrated circuits and computers. In Chile's case, although copper is very expensive these days, with marking $6990 per tonne, only this is the expensive product they mainly export. Other major exports are wood pulps or grapes, which will not make as much surplus as vehicles or computers.

Sources
"Geography of Singapore", https://www.cia.gov/library/publications/the-world-factbook/geos/sn.html, May 16, 2014, Central Intelligence Agency Web, May 1, 2014
"Trade in Germany", http://atlas.media.mit.edu/profile/country/deu/, May 16, 2014, Observatory of Economic Complexity, 2014
"Trade in Singapore", http://atlas.media.mit.edu/profile/country/sgp/, May 16, 2014, Observatory of Economic Complexity, 2014
"Trade in Chile", http://atlas.media.mit.edu/profile/country/chl/, May 16, 2014, Observatory of Economic Complexity, 2014
"Copper price per tonne", http://www.lme.com/en-gb/metals/non-ferrous/copper/, May 23, 2014, The London Metal Exchange, May 23, 2014

2 comments:

  1. Hyejune,

    I really like how you looked at the similarities and differences between the resources that each of your countries import and export. I noticed that we both looked at reasons why are countries export/import more of certain things than others. You did a great job talking about why Singapore and Germany need to import so much oil. You gave many reasons for why Germany needs so much oil, and you incorporated these ideas with the other imports/exports of Germany. Overall, great job. I can tell that you put a lot of critical and creative thinking into this post!

    Mary

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  2. Hi Hyejune! I found your blog post very interesting. Something I found particularly interesting was your part about petroleum because all of my countries also imported oil/petroleum of some kind. You analysis talked about this in a very similar way to mine although I not only took into consideration the citizens vehicles.

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