Australian TradeLinks for International Business
Australia represents an excellent trade opportunity for many businesses globally. Our economy is growing and GDP is high. The Federal Government has recognised the advantages of an open market and has more than halved tariff rates on imports over the past 10 years. For businesses that operate in Australia this has led to lower input costs and a maximum rate of productivity and efficiency. Australia has a corporate tax rate of 30 per cent and this is viewed as very competitive when compared with other major economies around the world.
The Asia Pacific region recognises Australia as a leading global financial centre. The Australian Securities Exchange (ASX) is comfortably ranked inside the top 10 largest listed exchanges in the world with a market capitalisation of A1.29 trillion. Australia's ever strengthening markets throughout the region is providing business people with an evolving range of financial services throughout the Asia Pacific region.
Australia presents many advantages for all categories of business needs and has first class factory space and industrial land, an enviable transport infrastructure and low-cost facilities.
- The economy of Australia is heavily involved in the service sector. This sector alone comprises close to 70% of Australia’s GDP. The mining sector is the second largest component and accounts for 19% of total GDP.
- Australia’s per capita GDP is ranked higher than France, Germany and even the United Kingdom in terms of purchasing power parity (PPP). The latest IMF report has Australia ranked 5 th in this category.
- Current skill shortages include Construction managers, engineers across all industries and types, geo scientists and early childhood teachers.
Lifestyle in Australia
Australians are globally recognised as a very friendly and helpful population. Known to have a great sense of humour and an uncanny ability to tell jokes and enjoy the life they lead. In most cases you can talk to anyone about any subject at anytime. The vast majority of Australians live along the coastline of Australia because the inland of Australia known as the 'Outback', is an extremely arid area filled with many deserts and a severe lack of water.
Chamber of Commerce and Industry Western Australia has an indepth report on doing business in Western Australia. To download the report please click on the image below.