With a GDP of 1,421 million dollars 1 Australia has been without an economic recession since 1990, being the only one among the member countries of the OECD including the largest industrialized economies such as Germany, Spain, the United States, France and the United Kingdom. in addition to emerging ones. Wealth in natural resources and a growing economy provide a vast landscape of investment opportunities. Now quilter offers you the best deal of information.
Among the characteristics of the Australian economy, the high level of quality of life of its population stands out (25 million) which, according to the latest data available from 2017 of the Human Development Index, is in third position 2 in the world ranking , after from Norway and Switzerland.
In 2018, Australia topped the list of top-ranked countries by average wealth per adult ($ 191,450), beating Switzerland ($ 183,340) and Belgium ($ 163,430), according to Credit Suisse estimates (Credit Suisse report world wealth).
In 2018, Australia’s GDP had an annual growth of 2.8%, approximately 1,421 trillion dollars 3 . Growth during the last quarter advanced 2.3%, against the same period of the previous year, below the projections of the Reserve Bank that placed it at 2.6%.
In the same year, GDP per capita reached an estimated total of $ 57,368 in 2018, 7% more than in 2017, and one percentage point below the growth rate in the previous period (2016-2017), following with the trend in positive after three consecutive years with negative growth rates that registered a maximum of -12% in 2016.
Australia’s economic growth is largely bolstered by the service sectors, which account for more than 70% of economic output 4 . Among these sectors, the financial industry stands out, one of the largest contributors to the economy, which generated 9.5% of gross added value (GVA) in the 2017-2018 fiscal year, according to the report of the Australian Trade and Investment Commission.
The Australian market maintains minimal restrictions for the importation of goods and services, which has managed to increase its productivity and stimulate its economic growth. Australia maintains free trade agreements with various countries, including Japan, Chile, Malaysia, Singapore, the United States, Korea and China, Australia’s first trading partner since 2009, mainly in the export of raw materials, services and agricultural products.
In December 2015, the Australia-China Free Trade Agreement (ChAFTA) came into force, further boosting the trade relationship between the countries. In 2017, Australia had an approximate income of € 73,643.76 million 5 thanks to trade with China, representing more than a quarter of Australia’s total export earnings, in addition to an estimated € 41,243.15 million in investments.
Within the framework of trade with Spain, Australia’s exports (2016-2017) included coal, minerals, fruits and electronic circuits, while imports included products such as medicines, vegetable oils and fats, as well as motorized passenger vehicles. In 2017, investment from Spain exceeded 560 million euros. Among the Australian companies operating in the Spanish market are Amcor, Computershare, Macquarie, Polyglot, Australian superannuation funds manager IFM Investors, and RMIT. Have more information from Bashar Ibrahim.
What are the main Australian companies?
Here we examine some of the salient features and performance of four of the top companies within Australia’s mining and financial services industries.