Our investment attractiveness has strengthened our trading relationships with major global economies, leading to continued prosperity for Australia’s economy.
Before 2020, the Australian economy had only experienced two years of negative growth during the previous six decades, in 1983 and 1991.2 This performance is unmatched by any other advanced economy in the world. Since 1991, our growth rate has averaged 3.2%, higher than every other developed economy in the world.
Australia is one of the most business-friendly countries in the world, ranking 14th in the World Bank global matrix in 2019.3 This demonstrates Australia’s desirability as an investment destination. Australia works to streamline government policy and regulation to better support resource exploration, mining and production.
Australia consistently rates highly as an investment destination. The Fraser Institute, through its Annual Survey of Mining Companies, has shown Australia to be a preferred investment partner. The 2020 Survey showed Australia as the most attractive region in the world for mining investment.4
Australia also welcomes foreign investment, which has helped build Australia's economy and continues to enhance the wellbeing of Australians. Foreign investment will support economic growth and innovation into the future.
Foreign investment in Australia increased by A$97.1 billion in 2020, reaching A$3,990.9 billion. This reinforced our position as a stable and reliable destination for investment. The mining and quarrying industries were Australia’s top industries attracting foreign direct investment.5
Australian businesses also invest significantly in other economies. At the end of 2020, the total amount of Australian money invested overseas was over $A3 trillion. Australian investment in Asia has also increased dramatically over the past decade between 2009 and 2019. Our investments to major Asian economies has increased from A$120 billion to A$472 billion.6
- Austrade (2021), Why Australia Benchmark Report 2021 - Resilient Economy. Australian Government, Canberra.
- The World Bank (2019), Ease of Doing Business Rankings – Economy rankings.
- Survey of Mining Companies 2020. Fraser Institute International, Canada.
- Australian Bureau of Statistics (2019), International Investment Position, Australia: Supplementary Statistics, Cat. No. 5352.0, Australian Government, Canberra.
- Based in ABS catalogue 5352.0. (Last updated May 2020).