Australia is a huge economy at a GDP of 1.56 trillion. It has a population of 23.13 million. With a per capita income of approximately 42,500 USD and the average Citizen’s purchasing power greater than that of an American Citizen, Australians have considerable of spending power.
What do we know about Australian customers?
Australian consumers and businesses see the best in the world both quality and price wise. The Australian consumer is spoilt for choice, having a large palette of brands to choose from. Used to a lot of competitive action, Australian buyers appreciate quality, but are sensitive to pricing as well.
While Australians spend on solid acquisitions like real estate, cars, and financial options, they are big spenders on lifestyle products and services too.
What does Australia import?
While Tourism, Oil, and Automobiles make up the top import sectors, the other fast-growing sectors include tobacco, metals, ships and boats imports, iron and steel, coffee, tea and spices.
Australia imports a wide range of diverse products and services for its population.
What are the major ports of Australia?
With a huge coastline of 25,760 km, Australia has several ports with marine transport being used to its utmost potential. The main container terminals in Australia are listed below:
Australia is well connected by air both domestically and internationally. The main airports in Australia are listed below:
- Brisbane Airport
- Melbourne International Airport
- Sydney Kingsford-Smith International Airport
- Adelaide Airport
- Perth International Airport
What are the customs and tariffs regulations in Australia?
Australia has a free trade policy which promotes healthy competition with the benefit of low prices being passed on to its consumers. Being a large and primary producing economy, Australia has an open and comprehensive import regulatory structure based on the World Trade Organisation (WTO) guidelines.
There is a well documented and comprehensive goods and services classification system, and tariffs are charged according to the type of import.
What is the distribution structure in Australia?
Australia’s services sector is the largest at about 68% of its GDP, followed by the industrial sector at about 27%, and the agricultural sector at about 4% of the GDP.
Australia prides itself in providing world-class infrastructure to its domestic and international business operations. It keeps its infrastructure constantly updated and in fine working order with periodic and effective infrastructure audits.
Australia has a system of good roads to carry people, goods, livestock, and raw materials. The country has approximately 913,000 km of roads of which approximately 13,600 km are freeways.
Australia also has a vast rail network with approximately 33,800 km of railway lines available for transport. With 14 major seaports, maritime transport is used significantly for domestic and international shipping.
Australia has reliable telecommunications infrastructure and adequate electricity to power its individuals’ and business needs.
Australia can be a plum market for your products and services. Given the high competition levels and a unique Australian business culture, winning partners and local market knowledge are essential for your business endeavours to succeed in Australia.