OECD Warns Australian Industries Less Competitive Than the US The OECD has reported that Australian industries are becoming less competitive, lagging behind the United States. While acknowledging the government’s efforts to revive the economy post-COVID-19, the OECD stressed the need for ongoing national and state-level consolidation to address budget deficits. The report highlights a decline in competition over the last twenty years, characterized by a few dominant companies across various sectors.

• Australian industries are becoming less competitive and falling behind the United States.
• The OECD noted the Australian government’s efforts to manage the post-COVID-19 economy.
• A sustained consolidation effort is required at national and state levels to reduce budget deficits.
• Competition has weakened over the past two decades, with a few firms dominating many sectors.