A TRADE trends survey by FedEx has highlighted Australian business interest in exporting to Europe.
FedEx (full name Federal Express Corporation) is one of the world's largest express transportation companies.
It surveyed the Asia-Pacific region and Europe, examining trade-lane trends and key enablers and barriers.
The APAC-Europe Study polled 850 small and medium businesses (SMEs) and large corporations across 13 APAC markets, including Australia, who sell goods to Europe, examining business sentiment, readiness, and challenges for cross-border expansion.
Click here to access the full Study.
It showed Australian businesses are increasingly looking beyond the Asia-Pacific to diversify their customer base with Europe a key market to consider.
Some 71% of surveyed Australian businesses reported an increase in trade volume to Europe during the past year, with almost one-third (30%) seeing growth of more than 10%.
This confidence is reflected in the outlook, as 61% of the surveyed Australian businesses stated their perception of trade with Europe has improved in the past year.
Some 32% of surveyed Australian businesses reported Europe represented more than a quarter of their customer base, while 8% reported more than half of their customers were European based.
Regarding perceived trade opportunities, the UK (50%), Germany (28%) and France (27%) comprise the surveyed Australian businesses’ top three, indicating a clear preference for established, reliable trade routes over emerging markets.
While Europe offers growth opportunities, Australian businesses face notable challenges, including high logistics costs (45%), import taxes/tariffs (36%) and supply chain complexities such as shipments delay (33%).
Australian businesses are increasingly looking for support in cost-effective logistics solutions (38%), market intelligence (32%), and customs clearance expertise (30%) to jump these hurdles.
Their key areas of focus on enabling smoother trade with Europe are cost efficiency (53%), customs clearance (35%), and supply chain visibility (26%).
“Europe represents a key opportunity for Australian businesses looking to diversify,” said FedEx Australasia vice president of operations Peter Langley.
“At FedEx, we are committed to simplifying the end-to-end shipping process by providing our global network, digital tools and our local expertise helping Australian businesses navigate their way into European markets.”