Rising confidence among Australia’s exporters is expected to grow trade and create new jobs this year.
A survey of Australia’s small to medium exporters reveals confidence is 10 percentage points higher compared to this time last year.
The Exporter Sentiment Index, released today, shows strong confidence among Australian SME exporters with five of the six measures higher than the last survey in 2017.
The rise in confidence will see new jobs created as almost half businesses surveyed expect to employ new staff during the next 12 months.
The Exporter Sentiment Index also reveals 60 per cent of SME exporters expect profits to be higher in the next 12 months and many are exploring opportunities to expand internationally.
The confidence boosts comes as the Turnbull Coalition Government pursues an ambitious trade agenda to create new opportunities for Australia’s SME exporters and cut company tax for SMEs.
Adding to the suite of trade agreements the Coalition has delivered, last week I signed the TPP-11. The TPP-11 will eliminate more than 98 per cent of tariffs in a trade zone with a GDP of $13.7 trillion that’s pans the Americas and Asia.
The Turnbull Coalition Government is working to help Australian SMEs unlock the opportunities trade agreements offer so they can sell more of their products and services to the world. Doing so will grow trade, the economy and create new Australian jobs.
The Coalition’s FTA roadshow, which has travelled across the country teaching small businesses how to use trade agreements, will reach a milestone later this year, with its 100th seminar. The Government is also continuing to expand the award-winning FTA Portal that provides easy-to-access information about the specific benefits of Australia’s trade agreements and the latest trade data.
Australia’s export credit agency, Efic, continues to assist SME exporters by providing export finance solutions.