IMD World Competitiveness Booklet 2020

COMPETITIVENESS TRENDS - OVERALL AUSTRALIA

OVERALL PERFORMANCE (63 countries)

BASIC FACTS Capital Land area (square km '000)

Rank

Canberra

2016 2017 2018 2019 2020

7,741 2019 1.439 2019 25.36 2019 1,386.8 2019 53,701 2019 2.2 2019 1.61 2019 5.20 2019 13.68 2019 0.51 2019 682.9 2018 2.77 2019

Exchange Rate (per $)

17

18

18

19

21

28

Population - market size (millions)

CHALLENGES IN 2020 Maintain the health, safety and wellbeing of Australia’s workforce. Stabilise the economy with fiscal and monetary policies that • Maintain the health, safety and wellbeing of Australia’s workforce. • Stabilise the economy with fiscal and monetary policies that prioritise employment. • Manage structural transitions for workers, businesses and regions impacted by Covid-19. • Reboot Australia’s services sector amid ongoing social restrictions. • Use digital technologies to increase productivity and enhance consumer convenience.

14

Gross Domestic Product (GDP) (US$ billions)

17

GDP (PPP) per capita (US$)

28

Real GDP growth (%)

26

Consumer price inflation (%)

35

Unemployment rate (%)

28

Labor force (millions)

32

Current account balance (% of GDP)

13

Direct investment stocks inward ($bn)

CEDA - Committee for Economic Development of Australia Provided by: CEDA - Committee for Economic Development of Australia

21

Direct investment flows inward (% of GDP)

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

11

11

11

12

12

13

14

18

19 18

20

21

21

23

26

27

27

34

35

45

PEER GROUPS RANKINGS ASIA - PACIFIC (14 countries)

POPULATIONS > 20 MILLION (29 countries)

2016 2017 2018 2019 2020

2016 2017 2018 2019 2020

4

5

5

5

5

5

6

6

6

7

55

IMD WORLD COMPETITIVENESS BOOKLET 2020