SA agri posts trade surplus in Q2 despite ongoing Covid challenges The agriculture sector was able to operate during the various lockdown periods due to it being considered an essential service. Weather also came to the party and allowed for an excellent agriculture season which saw record crops across most commodities with the grain and oilseed crop topping 17.07m tonnes which is almost 2% higher year-on-year. Despite logistical challenges, the sector managed to move hefty quantity of produce to the rest of the world with the second quarter of 2021 recording a trade surplus of US$1.5m which is 40% ahead of the same period in 2020. Then follows a 36% year-on-year spike in total agriculture exports in quarter two of 2021 at US$3.2bn, bringing the total 1H2021 export value to US$6.1bn which is 30% higher year-on-year… The overall good export revenue was underpinned by strong export demand despite the Q2 Rand exchange rate appreciation of 6% quarter-on-quarter and 21% relative to the second quarter at R14.09/ US$. The average exchange rate appreciation for the first half of 2021 was a whopping 13% relative to the same period in 2020… Source: https://www.bizcommunity.com/Article/196/741/219249.html Accessed: 26/08/21 From the above extract, it can be concluded that South Africa trades in agricultural products with the rest of the world because of… a) absolute advantage b) investment in the global economy c) trade tariffs d) comparative advantage 1.19 As evident in the extract, the United States Dollar South African Rand exchange rate is… a) A fixed exchange rate b) A floating exchange rate c) A real exchange rate d) A net exchange rate
1.18 Read the following extract and answer question 1.18-1.19.
SA agri posts trade surplus in Q2 despite ongoing Covid challenges
The agriculture sector was able to operate during the various lockdown periods due to it being considered an
essential service. Weather also came to the party and allowed for an excellent agriculture season which saw
record crops across most commodities with the grain and oilseed crop topping 17.07m tonnes which is almost
2% higher year-on-year.
Despite logistical challenges, the sector managed to move hefty quantity of produce to the rest of the world with
the second quarter of 2021 recording a trade surplus of US$1.5m which is 40% ahead of the same period in
2020. Then follows a 36% year-on-year spike in total agriculture exports in quarter two of 2021 at US$3.2bn,
bringing the total 1H2021 export value to US$6.1bn which is 30% higher year-on-year…
The overall good export revenue was underpinned by strong export demand despite the Q2 Rand exchange
rate appreciation of 6% quarter-on-quarter and 21% relative to the second quarter at R14.09/ US$. The average
exchange rate appreciation for the first half of 2021 was a whopping 13% relative to the same period in 2020…
Source: https://www.bizcommunity.com/Article/196/741/219249.html
Accessed: 26/08/21
From the above extract, it can be concluded that South Africa trades in agricultural products with the rest of the
world because of…
a) absolute advantage
b) investment in the global economy
c) trade tariffs
d)
1.19 As evident in the extract, the United States Dollar South African Rand exchange rate is…
a) A fixed exchange rate
b) A floating exchange rate
c) A real exchange rate
d) A net exchange rate
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Some trade companies exported goods under CIP trade terms, during whole
130%
transportation process, the folowing risks, losses and expenses occurred:
(1) Suffered transport vehicles capsizing during transit from the warehouse to the departure port, and resulted in some goods damage.
(2) During the loading of the goods from departure port to the ship, one entire package goods faling on shore, caused goods complete damage, and one entire
package goods falling into the sea, caused some goods slight damage.
(3)The ship sufered tsunami during sailing, the engine couldn't work properly, and the ship couldn't move.
I
(4)Asked tugboat for rescue, and went to refuge port for repairing the ship, and paid salvage charges and warehousing charges.
(5) After repairing the ship, the ship sailed again, but suffered heavy weather, caused damage of some goods in the cabin A.
(6) Whereafter, suffered grounding, caused complete damage of fragile goods in cabin B.
(7) When the ship arrived at the port of destination and unloaded goods, some goods were found to have been stolen.
Q1: The above losses or expenses respectively are what type of loss caused by what type of risk?
Q2: If insuring FPA, which of these losses or expenses can be compensated by
insurer?
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