Global Trade Venture: Australia 2019

Australia is a highly developed, internationally competitive, advanced market economy.  In 2018, Australia became the world’s wealthiest nation in terms of wealth per adult, and it has a high standard of living and excellent quality of life. It is the 13th-largest global economy according to nominal GDP—on par with or larger than countries such as Mexico, Russia and Spain. In 2018, Australia celebrated its 27th consecutive year of economic growth, marking the longest stretch of growth in modern history. It is an open market with minimal restrictions on the import of goods and services, which has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Because of all these factors, Australia should be a consideration in Wisconsin companies’ export growth strategies.

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