AUSTRALIA

High-Value Exports Up Sharply: Australia’s high-value-added exports rose 19.5% in 1992 to $7.8 billion, debunking what Trade Minister Peter Cook called the lingering view that Australia is just a farm and quarry for the world. The value-added exports accounted for 18% of Australia’s total shipments last year. Cook said so-called “elaborately transformed manufactures”--which include cars, chemicals, computer components and electrical equipment--were Australia’s fastest-growing category of merchandise exports.