What Could Go Wrong For Australia

Though tourism, education and rural exports contribute nearly one-quarter of Australia’s exports, currency appreciation could pose the biggest risk for growth in these three sectors, according to Bank of America Merrill Lynch. Alexandra Veroude and Tony Morriss of BAML highlight in their May 5 research “Australia Economic Viewpoint Playing Devil’s Advocate – what could derail the export outlook?” piece that exports accounted for nearly half of Australia’s GDP over the past four years. Australia’s tourism-related activity generated 3.2% of GDP Veroude and Morriss highlight that exports accounted for nearly half of the growth in Australia’s GDP over the past four…