AUSTRALIA
Australia is rich in natural resources, with no shortage of minerals, oil and gas, strong biotechnology, pharmaceuticals, finance and other industries. Australia's import and export market have seen strong development over the years, with its international trade is worth the equivalent of around 48% of Australia’s GDP today.
Proximity to Asia’s powerhouse economies
Australia’s robust economic outlook partly reflects the prosperity of Asia, with it enjoying the trade benefits of being close to many of the fastest growing economies in the world. Most of Australia’s principal export partners are located in Northeast and Southeast Asia, and a network of 18 free trade agreements gives Australian companies preferential access to these fast-growing markets.
Logistics Infrastructure
Despite its vast territory, Australia has a relatively small population. This results in a challenge to meet the economies of scale during procurement due to diversified consumer demands, which aggravates the issue of high distribution costs for its operation.
