Diversification of Australia's trade relations in the context of global instability

the purpose of this study is to identify the impact of global challenges on the diversification of Australia's trade relations. Methods: the study used methods of comparative and structural analysis of Australia's foreign trade statistics, as well as content analysis of strategic documents and international economic surveys. Results: the study showed that Australia, despite economic shocks and pressures, was able to withstand and somewhat diversify trade relations. The government is striving to diversify, reducing dependence on China and expanding cooperation with India, Southeast Asian countries, the EU and the United States, but so far no significant changes have been achieved. Significant changes in the commodity structure of exports were also revealed: an increase in the share of critically important minerals, renewable resources and export services. Conclusions: the diversification of foreign trade is a key tool for increasing economic stability in the face of global shocks and geopolitical risks. However, this process is long-term. For Australia today, the most realistic strategy is to gradually mitigate possible risks. The state should develop alternative trade routes, conclude agreements and profitable deals, support exporters in exploring new niches, invest in innovative areas, thereby diversifying the export structure, and at the same time maintain trade relations with China.

Australia, Australia's trade relations, ASEAN, India, China, sanctions, Australia's trade diversification