|January 9, 2004|
Embargoed 11:30am (AEST)
Foreign-owned businesses accounted for 1% of all Australian businesses in 2000-01, according to new globalisation statistics released by the Australian Bureau of Statistics (ABS) today.
In Australia, foreign-owned businesses employed 12% of all private sector employees and contributed 25% of all capital formation and 21% of value added.
The newly developed ABS initiative to improve globalisation statistics for Australia also found:
Globalisation of the australian economy
Further information is in Economic Activity of Foreign Owned Businesses in Australia (cat. no. 5494.0).
- Foreign-owned businesses played a significant part in the Mining and Manufacturing industries:
- The Mining industry's foreign-owned businesses employed 28% of all employees and contributed 45% of industry value added; and
- The Manufacturing industry's foreign-owned businesses employed 23% of all employees and contributed 34% of industry value added.
- USA-owned businesses made a greater contribution to the Australian economy than businesses owned by residents of any other foreign country. They led in all indicators except operating profit, where UK-owned businesses contributed the largest amount ($9,602 million).
- USA-owned businesses in Australia:
- Contributed to Australian employment (331,000 employees), income ($109,892 million), expenses ($102,021 million) and value added ($33,911 million). This was approximately twice the contribution made by businesses from the second largest country of business ownership (UK); and
- Were the largest contributors for capital items like assets ($199,562 million), liabilities ($128,210 million) and gross fixed capital formation ($4,114 million).