Australia has a strong and flexible economy which has capitalised on the country’s proximity to the emerging Asian markets and on its longstanding trade links to Japan and the United States. In US dollar terms, Australia had the 14th largest economy in the world in 2008, with the value of goods and services produced in the country estimated at US$1 trillion. In 2007-08, Australia registered its 17th consecutive year of economic expansion with GDP growth averaging an impressive 3.5% per annum over this period. The International Monetary fund estimates that the Australian economy will maintain its position as 14th largest in 2009, having overtaken Korea in 2008.

New South Wales is the largest State economy in Australia and surpasses many national economies in the Asia Pacific, including all of those in South East Asia with the exception of Indonesia. The capital city of New South Wales, Sydney, contributes almost a quarter of Australia’s GDP and ranks above both Singapore and Hong Kong SAR in terms of economic output.

With the State accounting for around 40% of national output in the finance, property and business services industries, Sydney is Australia’s finance and business hub.