World Bank Trade Indicators

August 21st, 2008 • Trade
Tags: Trade, world-bank, wto

Peter Gallagher points out the new World Bank World Trade Indicators as a good resource for comparing differing levels of openness to trade. For example, even though Australia is (rightly) known as a relatively low-tariff nation when it comes to agriculture, the WTIs show we have hidden barriers equal to up to 36% across the sector. I’m not sure I agree with Gallagher that this means quarantine and other procedures mean we are “paying way over the odds” for environmental protection though, I think people do place a high value on keeping Australia free from pests and disease. Certainly GM has shown that ‘pure food’ demands a premium.

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