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Legal Services in Australia: ISIC 7411

Australia legal services market set to see further increases if international agreements over foreign trade in this sector are reached


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2014-04-02 06:17:02 - Legal Services in Australia: ISIC 7411 - a new market research report on companiesandmarkets.com

Experiencing 4% annual growth in 2000-2010, the Australian legal services industry has the potential to grow at a similar or even higher rate if international agreements regarding foreign trade in these services are reached. The market saw net 44% growth over the review period, rising in value from A$9.2 billion in 2000 to A$13.3 billion by 2010.

Growth numbers were in general relatively modest, with the highest 11% year-on-year increase in 2001 and the largest 7% year-on-year decline in 2009 as the economic downturn took its toll on customers´ ability and willingness to take legal action.

The growth in demand for legal services over the last few decades can in large part be attributed to the transfer of several government-operated monopoly services

 

 

into private hands, creating the need for legal services both during the transactions and companies´ later operations.

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