Australian Traders Report Challenging Year for Exports
Australian exporters faced “extremely tough conditions” during the past year due to the combined impacts of the COVID-19 pandemic and increasingly tense geopolitics caused by trade wars, the country said in a business survey released this week. The country said…
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87% of exporters surveyed said they experienced “more challenging than usual” exporting conditions during 2020-2021, especially in the agriculture, retail, tourism and transport sectors. In addition, nearly one-fourth of exporters were forced to reduce their “export destinations,” and nearly 80% of businesses said entering new export markets will be a “priority” over the next three years.