Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S. market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade agreements.
Last Published: 7/30/2018
Total US - Australia bilateral trade of goods and services in 2017: USD64.4 billion2
US exports of goods and services to Australia in 2017: USD46.7 billion2
US goods exports to Australia in 2017: USD24.6 billion2
US services exports to Australia in 2017: USD22.1 billion2
Australia’s rank as a US export market in 2017: 16th largest3
World Bank Ease of Doing Business 2017 Rank: 14 of 189 (15 in 2016)4
Australia is the world's 11th largest economy5 with a GDP of USD 1.32 trillion6
Australia–US Free Trade Agreement (AUSFTA) has significantly stimulated US-Australian trade and investment since its inception in 2005.

Source: Reserve Bank of Australia
2 Source: Bureau of Economic Analysis
3 Source: Trade Policy Information System, International Trade Administration 
4 Source: World Bank Indicator
5 Source: World Bank GDP Rankings
6 Source: Australian Bureau of Statistics

In 2017, Australia  surpassed the world record for the longest period of uninterrupted economic growth, 26 years, previously held by the Netherlands.  Australia’s GDP grew by 2.4% in 2017 and is anticipated to grow by 3.25% in 2018/19.  Australia’s growth continues to exceed the Organization for Economic Co-operation and Development (OECD) average despite the economy transitioning to broader-based growth following the end of the resources boom.  The start of 2018 has seen strong signs of recovery and growth due to non-mining business investment and significant public infrastructure investment.  With few barriers to entry, a familiar legal and corporate framework, sophisticated consumer and industrial sectors, and a straightforward, English-speaking business culture, Australia remains a vibrant and important pro-US market for American goods and services.
Source: Reserve Bank of Australia

Australia welcomes foreign investment as an essential contributor to economic growth and productivity.  The United States is Australia’s largest foreign investor – with investment as of 2017 valued at USD690.6 billion. Around 1,400 American companies operate in Australia in a wide variety of sectors.  US direct investment in Australia is concentrated in mining, oil and gas, finance and insurance, and manufacturing. In 2017, Australia’s total investment in the United States was valued at USD511.7 billion.
Source for investment statistics: Australian Department of Foreign Affairs and Trade
 
Since coming into force on January 1, 2005, the AUSFTA has reduced investment thresholds, provided greater intellectual property protection, and fostered greater two-way investment.  As a result of the AUSFTA, over 99 % of US exports now enter Australia duty-free.
Source: Bureau of Economic Analysis

Australia has a well-established legal system for litigation and arbitration. The country is a world leader in the development and provision of dispute resolution mechanisms, and is a signatory to all the major international dispute resolution conventions. Australia has an AAA international credit rating with a well-developed, sophisticated financial market, regulated in accordance with international norms. Australia’s four leading banks are highly ranked internationally in terms of financial security and liquidity.

Australia has a large services sector, and is a world leader in mineral and LNG extraction and food production. Australia’s abundant and diverse resources attract high levels of foreign investment, and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources.

 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.



Australia Trade Development and Promotion