Dynamic Industries

Australia is a trusted, reliable supplier of high-quality natural resources, food, education, tourism and financial services to the world.

Asia continues to rely on Australia’s mineral and energy resources to power its industrialisation, while its agricultural commodities and premium food are meeting the region’s demand for clean, green and safe products. 

Australia’s services-based economy is well equipped to provide wealth management, healthcare, education, tourism and professional services to Asia’s growing middle classes.

Australian firms are also applying their niche capabilities in disruptive technologies to established industries, winning acclaim for their innovative mining, agricultural, financial and educational solutions.

Australia is:

  • the world’s largest producer of iron ore, gold and uranium and will soon be the world’s largest LNG exporter
  • a global top 10 producer of major agricultural commodities
  • a sophisticated financial market, with the world’s sixth largest pool of managed fund assets 
  • the world’s third most popular destination for students studying overseas
  • the 10th largest international tourism market.
Globally successful in 5 key industries

Charts from the Benchmark Report

The Australia Benchmark Report provides rich data demonstrating why there is no better place than Australia to do business. The report examines five key reasons for investing in Australia – Robust Economy, Dynamic Industries, Innovation and Skills, Global Ties and Strong Foundations – and compares Australia’s credentials with other countries.

Charts can be downloaded and saved as images for use in reports and presentations (when using please reference www.austrade.gov.au)

Globally Successful in Five Key Industries
1.  Globally Successful in Five Key Industries
Australia is a leading provider of goods and services that are in high demand across the global economy. The country is a major producer of natural resources, including significant liquefied natural gas reserves that are coming into production, and clean, green agricultural commodities and premium food. Australia has large, sophisticated financial markets, including the world’s sixth largest pool of managed fund assets. It is also a leading destination for education and tourism.
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Abundant Reserves of Mineral and Energy Resources
2.  Abundant Reserves of Mineral and Energy Resources
Australia is endowed with a rich variety of mineral and natural energy resources. The sector has been and continues to be an important contributor to the nation’s wealth. Australia has the world’s largest resources of iron ore, gold and lead, as well as the second largest bauxite reserves. It also has the world’s largest uranium reserves and the second largest brown coal deposits, enabling the nation to play an important role in supplying the world’s energy needs.
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Leader in Energy and Resources Exports
3.  Leader in Energy and Resources Exports
Australia’s abundant resources and proximity to Asia underpin its position as a major global exporter of mineral and energy resources and products. From 2001–02 to 2016–17, the country’s total resources and energy exports are estimated to have increased more than three and a half-times to over A$200 billion, with the majority of these exports going to Asia. Steady growth in the export volume of most bulk commodities is expected to contribute to higher export earnings over the outlook period.
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Growing Market for Renewables
4.  Growing Market for Renewables
Renewable energy accounted for about 15 per cent of Australia’s total electricity generation in 2014–15, and is forecast to increase to 20 per cent by 2049–50. Wind, solar and bioenergy sources are also expected to grow solidly, leveraging Australia’s natural advantages. Electricity generation from wind power is expected to double the current rate to account for over 10 per cent of Australia’s total electricity generation by 2049–50.
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Top Agribusiness and Food Exporter
5.  Top Agribusiness and Food Exporter
Australian food and fibre exports were worth A$45 billion in 2016, with nine of the top 10 destination markets (62 per cent of total food exports) in the Asian region. According to the Brookings Institution, the number of middle-class consumers in the region is forecast to grow to approximately 3.5 billion (65 per cent of the world’s total) by 2030. Australia’s proximity to Asia and reputation as a safe and reliable source of quality produce and premium products ensure the country is well placed to capitalise on this growth.
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Clean, Green and safe source of Agribusiness and Food
6.  Clean, Green and Safe Source of Agribusiness and Food
Australia is a major global producer of beef, wheat, wool, barley, wine, sugar, canola, lamb, chickpeas and raw cotton. Demand for Australia’s clean and green agricultural commodities drives the country’s export trade in high-value branded premium products. Beef and wheat are Australia’s two largest agricultural exports as well as its two largest agricultural commodities in terms of production value.
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Strong, Sophisticated Financial Markets
7.  Strong, Sophisticated Financial Markets
Australia has one of the world’s largest, most robust and competitive financial services sectors. The country has deep and liquid financial markets, including the world’s fourth largest alternative assets under management, sixth largest managed fund assets pool, and eighth largest OTC foreign-exchange daily turnover. The managed funds sector is underpinned by a mandated retirement savings scheme (superannuation system) that has resulted in the fourth largest pension pool in the world.
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Australia's A$8 Trillion Financial Sector
8.  Australia’s A$8 Trillion Financial Sector
Australia’s sophisticated financial services sector has significant depth with estimated assets of almost A$8 trillion – over four and a half-times the country’s nominal GDP in June 2017. The sector has grown on average 9.6 per cent a year over the past two decades, well above the average nominal GDP growth rate of 5.9 per cent. The strength of the financial industry means it is Australia’s largest contributor to gross value added, one of its highest growth sectors and a significant source of capital.
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A Top Destination for Education and Skills Training
9.  A Top Destination for Education and Skills Training
Australia is the third most popular destination in the world for foreign students enrolled in higher education. Australia attracted over 550,000 international students in 2016, including to higher education, vocational education and training. International education contributes over A$26 billion to the Australian economy each year, with both student numbers and export value in their third consecutive year of double-digit growth.
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Major Tourism Destination
10.  Major Tourism Destination
According to the UNWTO, Australia is the world’s 10th largest international tourism market with a 2.6 per cent share of global tourism receipts. The country benefits more from the contribution of tourism receipts to its GDP than nations such as the USA, France, the UK and Italy. The Australian Bureau of Statistics estimated that tourism contributed 3.2 per cent to Australia’s total GDP (or A$53 billion) in 2015–16. In 2015–16, tourism GDP grew 7.4 per cent compared to 2014–15.
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Record Levels of International Tourism Expenditure
11.  Record Levels of International Tourism Expenditure
Australia experienced record inbound tourism expenditure in 2016–17, driven by strong growth from China, Japan, India, Malaysia, Hong Kong SAR and other Asian countries. Collectively, the tourism expenditure of the top 10 Asian markets grew by eight per cent to A$22 billion – over half of Australia’s tourism receipts. The outlook to 2026–27 remains robust, with overseas visitor real spending expected to rise by 6.7 per cent a year to reach A$76 billion. China, India, Japan and other Asian nations are forecast to represent around three-quarters of this growth.
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