Australia: Open, prosperous and talented

Why Australia?

Thanks to strong economic fundamentals and prudent economic management, our economy is expected to grow by 1.3% in 2023. We will again outpace other advanced economies, whose growth rates will average 1.2% in 2023.

Our workforce is talented, motivated and highly skilled. This drives our success in multiple technology-driven industries. Classified as a single industry, technology is now the third largest contributor to GDP in Australia.

Australia is well placed to become a renewable energy superpower. We have abundant solar and wind resources. We also have vast deposits of critical minerals, including lithium. Today, we are innovators right across the renewable energy supply chain. We are already the largest solar producer per capita in the world. And we have the resources, investment and patents to stay competitive.

Credit: Tourism Australia

Australia’s openness to trade and foreign investment has been central to our long-term success. We are an export-driven economy. Seventy-five per cent of our trade is with fast-growing economies in the Asia region.1 We have 17 free trade agreements (FTAs) currently in force, including multiple regional trade agreements in the Asia-Pacific region.

We are also a natural platform for commercial expansion into Asian markets. With an open economy, multiple FTAs and strong cultural links with Asia, we can help businesses from around the world to grow and expand in our region.

1 The Asia region is defined as economies located in Asia and Oceania.


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