Customs Agency Services in Australia Industry Market Research Report Now Updated by IBISWorld

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Ongoing improvements in information technology are boosting productivity in the Customs Agency Services industry. For this reason, industry research firm IBISWorld has updated its report on the Customs Agency Services industry in Australia.

IBISWorld Market Research

IBISWorld Market Research

Higher imports and consumer spending support industry revenue growth

Customs agents act on the behalf of third-party importers, wholesalers, retailers or exporters to facilitate customs approval processes. Industry participants ensure a smooth flow of goods through the nation's ports and airports. The Customs Agency Services industry's largest service is providing import clearance, which contributes close to 90% of industry revenue. According to IBISWorld industry analyst Caroline Finch, “in an environment of a strong Australian economy, strong retail spending and a record high Australian dollar, imports have grown solidly”. In the five years through 2012-13, merchandise imports are estimated to have grown at a compound annual rate of 4.9%. This is despite a substantial dip in trade during 2009-10, when the global financial crisis spooked importers. Retailers, wholesalers and manufacturers reduced the level of stock they held in reserve in response to the uncertainty wrought by the global recession.

The Customs Agency Services industry has grown slowly over the past five years as demand for import support services has waxed and waned. The industry is forecast to turn over $3.35 billion in 2012-13, representing a compound annual growth of 1.1% over the past five years. The highly fragmented industry has been unable to substantially increase its commission rate in the past five years. Revenue is expected to rise by 2.1% over 2012-13.

In the coming five years, industry participants are expected to diversify the range of products and services they provide. This will enable industry operators to continue to improve productivity, as consolidation within the industry slows. “Ongoing improvements in information technology, such as electronic lodgements, have accelerated this trend over the past five years”, says Finch. There is also the potential for reform to the Australian Customs and Border Protection Service in the coming years. A customs reform panel has been established under the Home Affairs Department in 2012-13. The reforms are primarily targeting the services ability to detect and prevent criminal activity but may spill over into other areas of operation.

For more information, visit IBISWorld’s Customs Agency Services report in Australia industry page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau

IBISWorld industry Report Key Topics

This industry comprises establishments that provide customs services.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.

Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.

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Gavin Smith
IBISWorld
310-490-5973
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