Australia Exports and Its Markets
Exporting in Australia
Australia is one of the top suppliers of quality goods in the world. Its airports and seaports are always busy and contribute to the success of Australia’s trading activities. The major trading centers for Australia for merchandise and manufactured goods are the cities of Sydney and Melbourne. At this time, Australia exports it’s merchandise and products to over 200 countries .
Australia Exports to the World
Australia exports a large amount of minerals and agricultural products worldwide. Some of Australia’s top agricultural products for export include wool and wheat. Wool was one of Australia’s earliest exports and remains an important export product.
Australia also exports many minerals to satisfy global demand. It is one of the largest exporters of zinc, coal, tin ores and concentrates in the world. The agricultural and mining sectors combined contribute to over 50% of exports. Australia exports lead, diamonds, natural gas, copper, iron, coal, silver, gold, uranium, bauxite, zinc, grains, meat, and wool. Australia exports are mainly to its trading partners: China, Japan, and the United States.
Australia Exports Restrictions
Australia exports have 2 important restrictions. The first one is that there are certain items that are not allowed to leave the country, items such as certain animals, heritage goods, and other restricted items. Violation of these restrictions is punishable by law. There are of course exceptions made, but it must be with the expressed permission of the permitting authorities. The second restriction is that all Australia exports must be recorded in the country’s international trade logs and approved for shipment by Customs. A Certificate of Clearance is then issued and withheld until the proper conditions for transport are fulfilled.
Success in Exporting
To achieve success in exporting there are two important considerations: identifying the countries for your product and identifying that market’s characteristics. When studying the market it is important to find out whether the country selected already imports the product. Another important consideration is the import duties, taxes, cost of shipping, and any regulations or barriers that need to be taken into account. These will all be important factors in determining whether it is a profitable item and to determine your wholesale price for overseas customers. Another important consideration is the method of payment, currency of payment, and the exchange rate for that currency.
Export Marketing Plan
When your research is finished you should prepare an export marketing plan. This will help you to focus your activities and keep your objectives defined. This plan will also help you in obtaining bank financing, if necessary.
After you have identified the target country for your Australia exports, the ideal next step would be to visit the country and explore the target market. The purpose of this visit is to understand the competition and see if opportunities exist that will enable your Australia exports to find acceptance in the market. It is also the time to meet and seek suitable distributors and agents for your products.
The Australian export market is a huge and profitable one, anyone considering becoming a part of this market can, with appropriate planning and by following the strict guidelines, be very successful.
If you enjoyed reading about Australia Exports and Its Markets then see our next article Japan Export.
Video Version of : Australia Exports and Its Markets
Tags: Australia Exports