Main findings for 2009-10 include:
- Australian resident enterprises had 1,245 finance and insurance foreign affiliates which:
- employed 75,919 staff
- recorded $28.1b in sales of finance and insurance services (for definitions of sales and purchases of services, refer to paragraph 12 of the Explanatory Notes)
- recorded 92% of their sales of finance and insurance services to local residents in the host country of the foreign affiliate, indicating that the foreign affiliates were primarily established to service the markets where they were domiciled.
- Foreign affiliates domiciled in New Zealand, the United Kingdom and the United States of America accounted for more than 54% of the following key measures for Australian finance and insurance outward foreign affiliates:
- number of foreign affiliates
- employment and wages and salaries
- sales of services
- purchases of services.
- Foreign affiliates in the insurance and superannuation funds industry had sales of services of $17.9b (62% of total sales of services).
- Foreign affiliates in the finance industry were the major employer, with 53,034 staff (70% of total employment) and $4.1b in wages and salaries (61% of total wages and salaries).
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070.