An economic analysis on ABS export figures released this week shows nearly 300 new manufacturers began exporting during 2014 – 2015, and lower exchange rates appear to be helping competitiveness overall.
Manufacturers made up a fifth of all goods exporters, with 9,306 manufacturing firms exporting during the timeframe.
Every category of goods exporters grew in absolute numbers. “Notably” writes Austrade chief economist Mark Thirlwell, the period “saw the addition of almost 300 new manufacturing exporters.”
Competitiveness has been assisted by a drop in the Australian dollar from its peak of $US 1.10 in 2011.
Image: http://www.austrade.gov.au/news/economic-analysis/australian-exporters-by-the-numbers-2014-15
The real exchange rate continue to fall during the period recorded, and was down 10 per cent between July 2014 and June 2015, “[bringing] the total real depreciation from mid-2012 to more than 18 per cent,” according to Austrade.
“Most striking” of all the figures, notes the article, was there were 51,228 goods and services exporters in the period, an increase of 3,947 on the year before.
Click here to read Thirlwell’s analysis.