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Essay / Global Trade Research: Pestle Analysis of Australia
Politics: Australia's type of government is a Federal Parliament, where people directly choose their government using a compulsory voting system which is also followed by 36 other countries. The current Prime Minister of Australia is Scott Morrison, a member of the Liberal Party. Currently, this country is facing some major problems such as strained relations with Indonesia, asylum for applicants and sometimes unstable political conditions in the country. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay According to the World Bank in 2016, Australia ranked 94th. 09% in terms of accountability and voice, which measures the capacity and eligibility of a country's population. to choose a government. Since 1924, Australia's voter turnout rate has been 95%, the highest in the world. Australia also enjoys good relations with other countries such as China, Japan, USA and India etc. Australia's largest trading partner is China and the second largest is the European Union. In 2018, both countries launched free trade agreements that will increase their trade and profit as well. In 2005, Australia and the United States developed free trade policies and rules and currently, both countries are following this. India is also working on free trade policies with Australia and they will do so soon. JAEPA (Japan Australia Economic Partnership Agreement) is the most liberal agreement signed by Japan which helps the country develop with the latest technologies. Indonesia and Australia are considering entering into a trade agreement under the name IA-CEPA Indonesia-Australia Comprehensive Economic Partnership Agreement. If this is concluded, many trade routes will open up for both countries. So these are all arrangements that will affect the country's growth, if not stimulate it. So if we start selling Minute Maid here, it will be a great platform for the product to get a good market as well as profits. Political stability is very common nowadays, so businesses are used to these conditions, so it won't be a big problem. And the conflict with Indonesia is not a big problem, even if they plan to do business. Minute Maid will definitely get a good entry into the market and remain there as the strongest juice ever created (MarketLine, 2017). Economic Analysis: The Australian services market is a vital aspect of their economy. The service sector contributes to Australia's GDP by approximately 72.18% in 2017 and in the future, the CAGR will be 4.2% between 2018 and 2022. Australia is also well known for its FDI (Investment foreign direct), which also helps the country to develop. in the economic sector better. According to the World Bank, net direct investment amounted to 3.68% of GDP in 2017. Additionally, trade, exports and monetary policies have increased the country's growth. Sometimes young people's lack of power affects their performance. With the help of mining industries, Australia is developing every day. Australia's banking sector is trying to cope with funding market disruptions which have eased at a rapid pace in recent years. In other words, Australia's deficit is now shrinking thanks to new banking policies and mining revenues. So this will be a better market for our product (MarketLine, 2017). Social Analysis: The Australian government does well in human development, including health care, education and income. According to the “Report on the,, 2017).