How is the Australian dollar supported?
In addition to our current news overview, you will find some background information on economic topics on this page.
Australians invest their money in stocks more often than Germans. Australian companies traditionally pay high dividends worldwide for tax reasons.
You can find an overview of some Australian stocks on our separate page on the Australian Stock Exchange:
Australian stock market
The Australian success story was initiated by the Labor government under Prime Minister Paul Keating and was consistently continued by that of the conservative national-liberal government. When it comes to privatization, Australia, where everything used to be organized by the state and trade unions, is now further than Germany. The market economy has been unleashed, but the government and central bank are in control. The tax reform brings the Australian high tax system closer to the US model. The unique (only comparable with Singapore) system of private social security through the "superanuation" (7.5 percent compulsory contribution to a pension fund) has led to a savings pool of over 400 billion Australian dollars.
In terms of labor productivity, Australia is likely to have overtaken the USA.
ACCC - Australian Consumer and Competition Commission
Australia ranks 13th in 2018, Switzerland ranks 3rd, Germany 11th and Austria 14th.
Transparency International: Ranking 2015
The study compares the living situation in the 34 member states of the OECD. Eleven determining factors of life are compared: jobs, security, housing situation, income, environment, education, health and life satisfaction. Traditional values such as stable family relationships and community life are also weighted.
Australia scores particularly well on quality and transparency in administration.
Australia only achieved a place in the midfield in terms of work-life balance, which may surprise some. This is due to the many hours worked by Australians. In 2008, an employee in Australia worked an average of 300 hours a year more than a German.
|Household earnings||USD / year||27.039||27.665||27.670||27.542|
|working hours||Hours / year||1690||1390||1621||1640|
OCED: Better Life Index - Australia
Most livable cities
The British business magazine The Economist is also trying to evaluate the quality of life. It is primarily based on per capita income, but also on factors such as security, political stability and equality between men and women, health care, the environment, infrastructure or the educational and cultural offerings, divorce rates and unemployment.
According to the Economist Intelligence Unit in 2018, Melbourne is the second most livable city in the world. From 2011 to 2017, ancouver was in first place in the list of 140 cities in the relevant ranking; Vienna is now in the lead.
Melbourne is certainly proud to have left Sydney far behind. Also in the top ten Adelaide and Perth. Australia and its cities are well ahead due to the low population density of the country as a whole and relatively low crime rates.
Economist Intelligence Unit: Liveability Ranking
Key data on Australia at "The Economist"
The management consultancy Mercer publishes an annual overview of the most livable cities worldwide. Places one to five went to Vienna, Zurich, Vancouver, Munich and Auckland in 2019.
Sydney ranks 11th as the most highly rated city in Australia in this overview. In comparison to German-speaking countries, Australia is further behind than in other rankings due to the enormously high house prices. Another reason is the comparatively high cost of living compared to Central Europe.
- Other cities in the German-speaking area are Düsseldorf (6), Frankfurt (7), Basel (10), Bern (14), Berlin (16), Hamburg (19), Nuremberg (23) and Stuttgart (27).
- The ranking of the Australian cities is significantly worse on average: Melbourne (17), Perth (21), Canberra (30), Adelaide (29) and Brisbane (35).
Mercer: Most livable cities in the world
Wikipedia EN: Overview of the rankings of the most livable cities
Tourism as an economic factor
Raw materials industry
- Coal: Australia has huge coal reserves and is a major coal exporter. China has now penetrated the traditional Australian markets: Japan, Korea and Taiwan. The country threatens to overtake Australia as the world's most important coal producer.
- Significant raw material deposits can also be found in Australia in the form of oil, natural gas, nickel, zircon, iron ore, bauxite, diamonds and uranium.
- Aluminum, gold, iron ore, titanium and base metals such as copper, lead and zinc benefit from global economic growth and can achieve higher prices. Above all, the important sales countries in Asia are decisive. If projects there are postponed or canceled, this has an impact on Australia's raw material exports.
Images of a strictly unionized industry based on the extraction of raw materials, as they were still valid in the 1980s, are out of date. The raw materials industry has rationalized: old steel furnaces are shut down, unprofitable coal pits are closed - the layoffs that this resulted in were cushioned by severance payments.
The cheap "Aussie dollar" proved to be an additional lifeline for the raw materials industry in this resource-rich country at the end of the 1990s.
"Good governance" becomes particularly clear when comparing Indonesia and Australia: Indonesia, which is rich in natural resources, would actually have had the same prerequisites as Australia, but has squandered its wealth through nepotism and corruption.
Information on the basis of Australian agriculture - the vegetation zones (including information on periods of drought).
There is a shortage of people in industry, especially in computer and electronics. But here too, as in the USA, there is a way out: Australia mainly lets qualified immigrants into the country.
Between 2001 and 2008, according to the German Chamber of Commerce and Industry (DIHK), bilateral trade between Australia and Germany rose by an average of ten percent annually. In 2009 German-Australian trade totaled around 10.4 billion euros, of which around 8.4 billion euros was accounted for by German exports. Germany mainly imports mineral resources such as ores and coal.
Germany is Australia's tenth most important trading partner worldwide and number 2 in the EU after Great Britain. 18.6 percent of all trade between Australia and the EU in 2009 was between Germany and Australia. German direct investments in Australia amounted to 9.77 billion euros in 2008, while Australian companies had invested 5.65 billion euros in Germany.
Export to Australia
Companies from German-speaking countries in Australia
German-Australian Chamber of Industry and Commerce
An "Australia Germany Business Conference" is held every two years - alternately in Germany and Australia. This conference is organized by the Australian German Association and the German-Australian Chamber of Commerce and Industry. Topics are mostly Germany and Australia as investment locations, research and development as well as media and communication. Guests are usually high-ranking representatives from politics and business from both countries.
Western Australia German Business Association (WAGBA) in Perth
Advantage Austria in Australia
Companies don't have to look far for German employees. They are inundated with offers from the parent company and direct applications: the German-Australian Chamber receives more than 600 inquiries each year relating to jobs and internships - and the trend is rising.
- Starting a business is comparatively cheap in Australia.
- In Australia, it takes an average of two days to start a business
- Enforce a normal contract between business partners in Australia comparatively quickly.
- The cost of contract enforcement in Australia is less than one percent of the value in dispute
Australia is ranked 14th in the current "World Competitiveness Ranking" of the World Economic Forum. This ranking is led by the USA, Singapore and Switzerland.
Australia scores above average in the areas of research and education, among other things: the fifth continent ranks first in terms of the proportion of the population attending secondary schools, which in Australia are typically attended by 12 to 18 year olds. Australian research institutions are very competitive. The proportion of the population in the tertiary education sector (universities and technical and further education - TAFE, Technical and Further Education Colleges) is also above average.
Australia's strongest pillar is the development of the financial markets, which is supported by one of the most stable and solid banking systems. The macroeconomic situation is one of the best among the large advanced economies. World Economic Forum: World Competitiveness Ranking 2018
While the economy in Central Europe is not really gaining momentum, Australia beckons with comparatively high growth rates and stable key data. Investors can participate. However, the risks must also be taken into account.
Australian stocks on European stock exchanges
Australian Dollar Bonds
Australian real estate market
Tourism as an economic factor
Australian stocks on European stock exchanges
Information on the development of the exchange rate
Information on job opportunities
Information on immigration opportunities
Australian trade organization.
German-Australian Chamber of Commerce
Detailed site on the economic relations between Germany and Australia
Goethe Institute, Melbourne
e.g. with the German network in Australia - the "German relations" are made transparent here. There is also a brief outline of the presence of German industry in Australia.
Also cross-references to the Austrian Foreign Trade Office and the Swiss Australian Chamber of Commerce and Industry.
We look forward to your suggestions for updates and enhancements to this page.
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