Australia has entered its 28th year of consecutive annual economic growth, setting a new record among developed economies for uninterrupted expansion.
This enviable record of steady growth proves the robustness of Australia’s economy and its reliability as a low-risk and safe environment in which to do business.
The country’s strong regulatory institutions, ability to respond to global changes, and diversified, services-based economy underpin its steady growth.
Australia’s economy is:
- the world’s 14th largest
- rated AAA with a stable outlook by all three global rating agencies
- forecast to realise average annual real GDP growth of 2.7% over the next five years – the highest among major advanced economies
- characterised by diverse services and technology sectors and low government debt.