What is the export value of the legal services industry?
Australia's international services trade is expanding rapidly and is part of the fastest growing category of world trade. According to the International Legal Services Advisory Committee (ILSAC), in the 1999/2000 financial year export of legal services was valued at $194 million, resulting in a trade surplus of $136 million in legal services.
Legal services is a significant component in the export of professional and technical services from Australia and is the second highest export in this category after engineering services. In terms of the balance of trade, the surplus on legal services exports is the highest of all categories of professional and technical services.
Many of the larger Australian law firms have been active in the export of legal services since the early 1980s. Both solicitors and barristers export legal services although most exported services are from the large solicitor firms. Further details about the export of legal services can be found by following the link below to the ILSAC website.