Australians are not good at celebrating good news – and some of the good news they don’t even get to see on major media.
Trade performance is a good example.
Australia has an outstanding national trade body – Austrade – with talented people around the world promoting our products and services.
In many countries – including India – most of our states also have Government offices working hard to build trade and investment.
They have been incredibly successful.
Of the 35 advanced countries in the Organisation for Economic Cooperation and Development (OECD) who reported last year’s exports to the World Bank, only three increased exports relative to gross domestic product (GDP) over 2022.
Of these, Australia’s expansion was the strongest.
The World Bank also affirms Australia’s ascendancy.
The World Bank’s development indicators show export and import outcomes for 138 economies from 1974 to 2023.
The World Bank measured Australia’s 2023 exports at a record 26.7% of GDP.
The success story continues…
Of the 35 advanced OECD member economies for which the World Bank has recorded last year’s export volumes, 17 experienced a decline. These include normally robust economies Ireland, Germany, the United Kingdom, Netherlands and Belgium.
Only 18 increased their exports over the previous year. Just four managed an improvement of more than 5%. Australia ranked third with 6.5% behind Denmark and Costa Rica.
Well done all those Australian providers of quality export goods and services.
Well done, Aussie!
Into India 