Many of Australia’s exporters are feeling more positive about what the coming year will bring, according to a new business survey.
Australia’s International Business Survey (AIBS 2015), to be released later this year, will report on the views of more than 1,200 Australian companies involved in international business.
However, the first set of results has found exporters are upbeat about increased business in the coming year.
Participants were asked about the overall outlook for their company’s international operations in 2015 compared to 2014.
And 69 per cent of AIBS respondents said that the outlook for this year was better than that for last year.
“That compares favourably to the 24 per cent that said it was unchanged and to the just eight per cent that said the outlook for 2015 was worse than for last year,” said Austrade’s chief economist, Mark Thirlwell.
Main reasons for optimism
AIBS is a survey produced by Austrade, the Export Council of Australia, the Export Finance and Insurance Corporation (Efic) and the University of Sydney.
When AIBS 2014 was launched last year, it was then the largest survey of Australian international businesses in more than a decade. The survey provided a range of information on how those businesses interacted with the world economy.
AIBS participants were asked to give the main reasons for their optimism in 2015.
“By far the most frequently cited reason for their opinion was the decline in the Australian dollar,” said Mr Thirwell.
“In other words, the drop in the dollar is apparently delivering a significant boost to Australia’s relative competitiveness and to exporter optimism.”
Respondents also highlighted the anticipated benefits from Australia’s new Free Trade Agreements with China, Japan and Korea.