ECA News

Atradius -Australia Country Report August 2013

Liam Dilley - Tuesday, June 09, 2015

Atradius Trade Credit Insurance, the experts in credit management have released the country report for Australia 2013.
 
The report looks at Australia’s main economic developments over the last year, the insolvency environment, development in main sectors and the Australian industries performance forecast.
 
Australia’s economic performance has been remarkably good over the last few years compared to most advanced economies. With a population of 23.1 million Australia’s most important sector (% of GDP, 2012) is its services industry. The country’s main export market (2012, % of total) is China followed by Japan. China is also its main import source (2012, % of total), followed by the USA.
 
The Australian economy is forecast to grow by 2.7% in 2014. This is an uncertain figure as the Australian economy is in transition with a reduction in mining investment and question marks over whether the non-mining sector can assume the role of growth engine with fears that mining investment has reached its peak.
 
Unemployment was relatively low in 2012 at 5.2% but the trend has been upward since the beginning of 2013 with fewer jobs in the mining sector. Inflation was also relatively low last year at 1.8% with only moderate increases forecasted for 2013 and 2014. The Australian dollar has also started to depreciate against the US$ since May this year falling about 10%.
 
Business insolvencies increased sharply in 2008 and 2009 due to the global financial crisis and have remained at a historically high level since. However, industries that received a good performance forecast in the report are the agriculture, electronics/ICT and financial services industries. 

For the full free report on our website, please click here.

 

About Atradius
The Atradius Group, a company of Grupo Catalana Occidente S.A., protects businesses against trade credit risks throughout the world with credit insurance, bonding, and collections services offered in 45 countries. With total revenue of EUR 1,554 million and a market share of approximately 31% of the global trade credit insurance market, Atradius’ products contribute to the growth of companies throughout the world by protecting them from the payment risks associated with selling products and services on credit.

Contact Details

Level 14, 1 Market Street
Sydney NSW 2000
Australia
Tel:+61(0)2 9201 5222

Fax:+61(0)2 9201 2210

Email: info.au@atradius.com

www.atradius.com.au

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