IMD World Competitiveness Booklet 2022

Competitiveness Country Profiles

Australia Competitiveness Trends – Overall

OVERALL PERFORMANCE (63 countries)

BASIC FACTS

Rank

2018

2019

2020

2021

2022

Capital Land area (square km '000)

Canberra

7,741 2021 1.331 2021

Exchange Rate (per $)

18

18

19

19

22

Population - market size (millions) 25.74 2021 26 Gross Domestic Product (GDP) (US$ billions) 1,632.0 2021 11 GDP (PPP) per capita (US$) 56,337 2021 18 Real GDP growth (%) 4.2 2021 44 Consumer price inflation (%) 2.82 2021 29 Unemployment rate (%) 5.10 2021 24 Labor force (millions) 13.84 2021 25 Current account balance (% of GDP) 3.55 2021 19 Direct investment stocks inward ($bn) 790.7 2020 13 Direct investment flows inward (% of GDP) 1.45 2020 34

CHALLENGES IN 2022

• Sustaining strong growth without overheating the economy. • Turning around lacklustre productivity growth. • Addressing skills shortages, particularly in high value- added technology-driven sectors. • Speeding up progress in transition to net zero economy. • Realising faster adoption of cutting-edge technologies by business.

PROVIDED BY: CEDA - Committee for Economic Development of Australia

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices

Attitudes and Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health and Environment Education

10

10 9

11

13 14

18

19

20

21

22

23

25

27

28

29

32

33

38

38

PEER GROUPS RANKINGS ASIA - PACIFIC (14 countries)

POPULATIONS > 20 MILLION (27 countries)

2018

2019

2020

2021

2022

2018

2019

2020

2021

2022

4

5

5

5

5

6

6

6

6

7

53