Similarly, while seven of the EMEs' foreign exchange reserves amount to about 38 per cent of their aggregate GDP, reserves held by the G-7 group are four per cent of their total GDP.
It is well-known that, despite the rise in world prices for our resource exports, Australian exporters have struggled to increase export volumes over recent years. In large part, this is because of the size and speed of the rise in demand coupled with the very limited investment in capacity that has taken place in the late 1990s and early in this decade.