Our vibrant, technology-driven industries are complemented by abundant reserves of resources and energy. Top tech talent gives Australia a dynamic edge in global markets. For example, surveys now rank Australia’s fintech industry sixth in the world – and second in the Asia-Pacific region. Australia is now a magnet for tech investment in critical areas, including finance, regulation, medicine and education.
Trade is also growing quickly. Strong commodity prices pushed minerals exports higher in 2021. This created a record trade surplus of more than A$120 billion in 2021. Our agricultural sector is one of the most productive in the world. It is set to deliver a record A$65 billion export crop in 2022–23.
Australia’s openness to trade and investment is central to our long-term success. We have 16 free trade agreements and have led the formation of multiple regional trade agreements in the Asia-Pacific region. Low tariffs and ready access to Asian markets make us a natural gateway for inward investment. Over 70% of our trade is now with fast-growing economies in the Asia-Pacific region.