Australia has a strong and resilient economy, which was the 15th largest in the world in 2006. The resilience of the Australian economy has seen 16 consecutive years of economic expansion to 2007. Over this period, GDP growth has averaged an impressive 3.5% per annum. The Australian economy is forecast to grow above the OECD average in 2008.

Australia has capitalised on close ties to the fast growing Asian markets to propel economic growth. Economic growth has also been supported by higher productivity, a result of comprehensive and ongoing economic reforms, and robust financial, legal and political systems.  Australia has a highly efficient business sector which operates under a well-established corporate governance framework. Australia was rated seventh in the world for business efficiency, and corporate boards were ranked second for effectively supervising the management of companies. Australia’s financial regulatory environment is recognised as one of the best in the world for promoting stability and certainty and its banks are well managed and profitable.