Why North America?
North America is the world’s largest regional economy.
It is a powerful player in the global economy, especially for the development of new technologies and the provision of investment capital. Its sophisticated capital markets and financial structures provide vital support mechanisms for innovative SMEs to expand into these growth markets.
$33 billion of goods and services were exported to the US in 2023
The US is Queensland’s 10th largest export market
The US is one of the most diversified global markets
Learn how to sell online to US markets
E-commerce accounted for 16.1% of total retail sales in the US in 2024. E-commerce continues to grow rapidly in the USA, driven by several key trends.
Key partnerships
North America is a key Queensland export market and trade and investment partner.
The Australia-US Free Trade Agreement (AUSFTA) has been in place since 2005. This means that 97% of Australia’s non-agricultural exports (excluding textiles and clothing) are duty-free and two-thirds of agricultural tariffs have been eliminated. Since the agreement entered into force, two-way trade between Australia and the USA has doubled, and two-way investment has tripled.
The 2016 Transpacific Partnership (TPP), between Australia, Canada and Mexico was expanded in 2018 with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which added Japan, New Zealand, Vietnam and Singapore to the partnership.
Attractive potential
North America is the largest market for funding and commercialising innovative technologies and already attracts many technology firms from Queensland and other parts of Australia. It will be a key partner for companies looking to enter regional growth markets in Central and South America.
North America opportunities
- Specialty food, beverage and nutritional products
- Technology
- Mining equipment, technology and services (METS)
- Agricultural technology
- Mining and resources technology
- Biotechnology
- Innovation
- Health services
Global markets
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