In turbulent times, the Australian economy
benefits from rock-solid foundations. Prior
to 2020, the economy experienced just
two years of negative growth during the
previous six decades. And since the last
recession in 1991, our growth rate has
averaged 3.2 per cent, which is higher than
every other major developed economy in
Australia’s trade links with near
neighbours are a major factor. The Asia
region is ultra-fast growing, and Australia’s
network of 14 free trade agreements
across Asia and the Pacific have helped agile
Australian businesses to rapidly expand.
While over 80 per cent of Australia’s
economy is services-based, global
leadership in several key industries powers
our exports. Asian markets are hungry
for Australian minerals and energy.
Our agricultural industry is highly
efficient, and our clean, green produce
fetches premium prices in Asian markets.
Underpinning everything is our sound
financial system, strong fiscal position
and low government debt. This permits
strategic investment in future 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 & 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)