Question

Aviation represents ___% of global trade by volume, but ___% of global trade by value.

a) 5%; 20%
b) 20%; 50%
c) 50%; 5%
d) 80%; 80%

Answer 1

Aviation represents 20% of global trade by volume and 50% of global trade by value.

Step-by-step explanation:

The correct answer is b) 20%; 50%.

This question is related to the topic of global trade and its representation in aviation. Aviation represents 20% of global trade by volume, which means that 20% of all goods traded globally are transported by air. However, aviation represents 50% of global trade by value, indicating that the goods transported by air have a higher monetary value compared to other modes of transportation.

For example, high-value products such as electronics, pharmaceuticals, and luxury goods are often transported by air to ensure quick delivery and to maintain their quality. On the other hand, bulk commodities like grains, ores, and fuels, which have lower value per unit, are transported by other means such as ships or trucks.

Understanding the different percentages of global trade by volume and value for aviation is essential to comprehend the significance of air transportation in the global economy.