The nation’s exporters are looking forward to a positive two years ahead, according to results from one of Australia’s largest and most in-depth business surveys.
Commissioned by the Export Council of Australia (ECA), Australia’s International Business Survey 2017 analysed results from more than 1,000 Australian businesses to paint a picture of an optimistic group ambitious to expand their international footprint even further.
Of the 1,068 survey respondents, 87% expect the financial outlook for their international operations to be the same or better over the next two years, and around three-quarters of those engaged in international business activity are planning to do business in new countries over the same period.
Those looking forward to a better financial outlook come from businesses in agriculture, forestry and fishing; manufacturing; wholesale trade; professional services; and education and training services.
Other key points to emerge from the survey were:
- top markets for revenue generation are China, the USA and New Zealand
- 19% of those surveyed earn more than 50% of their total revenue from international revenue
- 35% of respondents earn international revenue from 6 or more countries
- respondents from the agriculture, fishing and forestry sector earn the largest average share of their revenue internationally (95% of total revenue), followed by respondents from the education and training sector (87% of total revenue)
- 35% of respondent firms can be classified as ‘born global’ (earning international revenue within two years of establishment).
This year’s survey was conducted by the Centre for Business and Social Innovation at the University of Technology Sydney on behalf of the ECA. Now in its fourth year, the survey highlights key insights and issues for Australia’s international business community and presents overall economic trends.
To learn more, download the full survey report for free.
Continuing to boost exports from Queensland is a key goal of the Queensland Trade and Investment Strategy 2017–2022.