Australia

WHAT'S NEXT?: Australia will no longer be known for being as dependant on the export of natural resources over the next half century as in 2012. The need for new infrastructure to meet the strong population and economic growth of Australia will continue to be a priority for the medium term. There's no doubt the aftermath of China's credit boom poses a much bigger economic threat to Australia than Britain's withdrawal from the European Union. The Growth rate for Australia is expected to be stronger, although still below the long-term trend.

[New] Exports of - Services in Australia is expected to be AUD 7210.95 Million by the end of this quarter.
[New] Australia is committed to slashing greenhouse gas emissions by 26 to 28% below 2005 levels by 2030.
[New] Fleet Base West near Fremantle, Western Australia, which in coming years will include most of Australia's new submarine fleet and the forward deployment of Australia's new air warfare destroyers, should not merely be measured by Australia's strategic needs in the Indian Ocean.
[New] In Asia, the liquefaction projects most likely to get sanctioned in 2021 are the Barossa back-fill project for Darwin LNG, and potentially new regasification projects in Australia, Vietnam, Pakistan or the Philippines.
[New] Australia and New Zealand have announced a quarantine-free travel bubble agreement to start in the first quarter of 2021.
Australia will meet and beat its declared 2030 target of reducing greenhouse gas emissions by 26% to 28% below 2005 levels.
Wheat exports from Australia are expected to double in the 2020-21 season to 20 million mt.
To make matters worse, Australia is one of the global leaders that has not committed to a clear climate change policy; the U.K., U.S., Japan and China have all committed to reducing greenhouse gas emissions by 2050.
Mobile operators in Australia have been accelerating 5G deployments in 2020 and are waiting for additional spectrum that local regulator ACMA plans to award in 2021 to further expand 5G networks.
Following 2019's year of robust growth, Fitch expects Australia to maintain its positive trajectory over the coming decade.
Despite the collapse of Xinja, neobanks in Australia are still expected to be popular in Australia with it reported earlier in the week that neobank Judo is expected to finalise a funding round valuing it at $1.65 billion.
The success within Germany's power sector will add pressure to other countries lagging on climate action, such as Australia, as the 26th Conference of Parties meeting looms closer in 2020.
The rise in emissions likely to occur as Australia's economy returns to a pre-pandemic state over 2021 will occur just before the 2021 Conference of Parties meeting, in which climate will become a key global focus.
With net negative migration in 2020, Australia is projected to be more than half a million people smaller in 2022, with flow-on effects from construction to retail.
Nearly 60% of electricity generated in South Australia is from zero emissions renewable sources, and we aspire to become a net exporter of renewable energy, generating net-100 per cent renewables by 2030.
AI-driven applications could enable a 4% reduction in the worldwide greenhouse gas emissions expected in 2030 - an amount equivalent to the expected annual 2030 GHG emissions of Australia, Canada and Japan combined.
South Australia's transition to a net zero emissions economy and a national and international exporter of clean energy could mean achieving a level of renewable energy that is more than 500% of current local grid demand by 2050.
New projects and potential restarts are expected to lift Australia's export volumes from 231,000 tonnes in 2019-20 to a forecast 253,000 tonnes in 2021-22, up an average 6% a year.
A major marine heatwave off the coast of Western Australia was forecast just last week, with temperatures in early 2021 expected to rise to their highest level in a decade.
So far, Australia has accepted 30 of the Lockheed Martin designed aircraft but will eventually acquire 72 Joint Strike Fighters from the US at a cost of $17 billion.
NVX-CoV2373 is being evaluated in a Phase 2 b trial in South Africa, now fully enrolled with 4,422 volunteers, and data from a Phase 1/2 continuation trial in the United States and Australia is expected as early as first quarter 2021.

Last updated: 15 January 2021

Australia

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