Australia country guide Australia

As a modern Western country, Australia is one of the most economically-free countries in the world with minimal government intervention and is dominated by the services sector. This accounts for 68% of the Australian gross domestic product. The agricultural and mining sectors (together 10% of GDP) are jointly responsible for 57% of Australia's exports. The currency of Australia is the Australian Dollar.

Australia is a very prosperous country with a per capita income of $ 55,660 per year (2021). Characteristic of the development of the Australian economy is the rapid and radical transition from a predominantly agricultural country to a modern industrial state. The discovery of a number of minerals (including bauxite, uranium, iron ore) has given a large impulse to the development of the mining industry. Mining products now account for 40% of the total export value.

The Australian e-commerce market is growing due to increasing consumer confidence in online shopping. However, competition is strong which makes it difficult for to make your business stand out in this market. This is why many entrepreneurs try to promote their products or brands through social media channels.

• Australians are known as 'easy-going', which is - up to a point - also reflected in their way of doing business.
• Australians are modest and dislike self-importance. They are informal, open and straightforward, and like to be on an equal footing with their business partner. 
• The Australian mentality is similar to that in Western Europe. Yet there are differences that you have to take into account. For example, the 'easy-going' way of doing business might frustrate Western entrepreneurs. Patience is very much appreciated, on the other hand punctuality is essential.
• Australian importers pay attention to price, quality, reliability and punctuality in delivery.
• The dress code for business meetings is similar to the Dutch dress code: a smart dress or business suit.
• Greetings at a business meeting are casual and relaxed: a handshake and a smile are appropriate. Australians are informal and prefer to use first names, also in business. 
• Australians have a great sense of humor. They love practical jokes.
• Do not make the mistake of mentioning Australian culture in one breath with British or American culture.

• 12th Largest Economy in the World
• Ranked 13 on World Bank doing Business (2016)
• Top industry of export are Food and Snack goods, Automotive parts / aftermarket and Cosmetic and Toiletry preparations