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Australia country report
1.
2. Main Industry Sectors
Economic Overview
Foreign Direct Investment [FDI]
FDI Government Measures
Country Strong Points
Country Weak Points
Foreign Trade Overview
3. Australian tertiary sector occupies a dominant position in the Australian economy (more
than three-fourths of the GDP), but the agricultural and mining sectors are the most important
for its exports.
Australia is a vast agricultural country and one of the world's main exporters of wool, meat,
wheat and cotton.
Australia is overflowing with mineral and energy raw materials, the export of which ensures
it substantial revenues.
Australia is among the top 10 producers and exporters of most mineral ores.
Australia has the world's greatest reserves of numerous strategic resources such as uranium,
of which it has 40% of the world's proven reserves.
4. Australia is a finished goods importer. Its industrialization is fairly recent, a fact which explains the
small scale of its manufacturing sector, which only employs 10% of the active population.
The manufacturing industry is built up around the food industry (approximately a fifth of the
workforce), machinery and equipment (around 20%), metal processing and metal goods (nearly 20%) and
the chemical-petrochemical industry (slightly more than 10%).
5. Australia is the world's thirteenth largest economic power.
In 2010 the Australian economy has been growing again, with an estimated growth rate
of 3 % of the GDP.
Australia’s good economic performance owes to the government's fiscal policy of
incentives, by the increase in household consumption and especially by the continuous
Chinese demand which helps exports.
The Australian government's priorities are to improve the country's competitiveness,
namely with regards to the export competition of Asian countries and to deal with the
challenges of its aging population and its environment which is vulnerable to climatic
problems (droughts).
Australia is a prosperous country and its per capita GDP is amongst the highest in the
world.
Despite the recent increase in unemployment rate due to the global economic crisis,
it remains consistently low, around 5%.
6. The foreign direct investment (FDI), Australia is ranked 13th in the world but 3rd in the Asia-Oceania
zone, behind Hong-Kong and China (since 2005).
Australia is an investment destination.
Australia’s economic liberalism, its stability and judicial system transparency, combined with strong
economic growth of more than 15 years, make up for the narrowness of its market and its geographical
isolation, and make it a desirable destination.
The effects of the 2008-2009 financial crisis have not harmed its capabilities and Australia remains a
valued destination to a number of investors.
7. Foreign companies get assistance, especially for productive investment, R&D,
professional training and job creation.
Australian administrative formalities for setting up foreign companies has been
reduced.
8. The customary Australian dynamism, its economic robustness, its strong growth, stable and
juridical reassuring business environment and position as a practical access platform for
certain markets, like New Zealand and the Pacific islands, make this country a choice target for
establishment.
9. Reduced competition in some sectors can limit returns on scale.
Lack of investment in transport and telecommunication infrastructures
sometimes slows down growth in some sectors.
10. Australia's external trade is characterized by a structural trade deficit.
The increase in exports has not compensated for the high imports which are stimulated by a strong
Australian dollar. In terms of continuous growth, and despite healthy exports, the deterioration of the
current account balance and of the structural deficit are still the Australian economy's weak points.
Australia is becoming more and more dependent on Asian economies and the price of raw
materials.
Australian foreign trade is not well developed, a fact which reflects the country's relatively weak
globalization integration.
Australia must improve its infrastructures in order to redress the bottlenecks that
have been restricting exports for a long time, so as to allow it to better integrate in
global trade..
Australia's main trade partners are Southeast Asia, the United States and the European Union.
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