North America

The North American trade market is increasingly dominated by the United States of America – leaders in global trade and investment, research and development and stock market capitalisation – and will continue to provide major opportunities for exporters in Victoria. Underpinning Victoria's  and the USA's dynamic trade and investment relationship is the Australia-United States Free Trade Agreement (AUSFTA) which took force in 2005.

Opportunities exist for Victorian businesses to export across a range of industries including:

Digital technology

The United States is the headquarters for the world's largest corporations. With a sizeable digital technology market combined with a push to improve productivity, significant opportunities continue to emerge for Victoria's leading-edge digital technology businesses. Operating in distinct segments with diverse products, competition  and customer bases, the USA's digital technology market is complementary to Victoria's industry capabilities.

Advanced medical research capabilities

With an ageing population and the aim to reduce the costs of medical expenditure, the USA faces an increasing demand for innovation and product development in healthcare. Recognised as the research and development hub of Australia, Melbourne's expert medical research and development capabilities are internationally competitive and provide substantial  opportunities for Victorian businesses to export their research skills and innovations aimed at improving the USA healthcare services.

Tourism

The number of Americans visiting Melbourne and Victoria continues to grow every year, providing opportunities for businesses in the tourism and hospitality industries.

Defence

The Australia-USA Treaty on Defence Trade Cooperation provides Victoria with a competitive advantage in selling defence technology to the USA. The Australian Defence Department – through the Defence Material Organisation – has established a Global Supply Chain (GSC) Program to support small and medium enterprises to bid into the global supply chains of major USA prime contractors.

Foreign investment in professional services

Approximately one-third of the investments that Victoria attracts are in software and technology services, business services, financial services and communications. Increasing USA investment into Asia has generated new opportunities for Victorian businesses to establish trade partnerships with USA companies to deliver services in these industries.

Infrastructure, mining equipment and technology services

Opportunities exist in Canada for Victorian businesses to help meet demand for new infrastructure, mining equipment and technology services.

Fast facts

  • Two-way goods trade between Victoria and the US is worth over A$11 billion1
  • Victorian goods exports to the US have almost doubled over the last 5 years2
  • The US biotechnology sector is worth over US$100 billion3
  • During 2015-16 197,000 American and 46,000 Canadian tourists visited Victoria.4

Discover how your business can export to the USA

  • Victorian Government Trade and Investment (VGTI) offices are located in San Francisco, Chicago, New York and Washington DC. VGTI provides tailored market intelligence, local insights and guidance for your export business. They can also connect you with overseas buyers and industry partners in North America.
  • Austrade USA Market Profile provides further detail and facts about the North American market.
  • The Victorian Government provides support through a range of grants, vouchers and assistance programs.
  • The International Chamber House (ICH) located in Melbourne's city centre is a business networking hub for international bilateral chambers and    business associations. It provides members with access to meeting rooms with video-conferencing, flexible workspaces and a function space for international business development events.

Source:

  1. DFAT STARS Database, based on ABS Cat No 5368.0, June 2016 data.
  2. DFAT STARS Database, based on ABS Cat No 5368.0, June 2016 data.
  3. IBIS World, 2016
  4. Tourism Victoria Research Unit, August 2016