header HomePlacesMapsMap Products & ServicesHotels & TravelDestination GuidesWeb DirectoryContact

Australia:
Economy

Flag of Australia
Click to enlarge

Australia Page


Economy - overview
Definition
Australia has an enviable, strong economy with a per capita GDP on par with the four dominant West European economies. Robust business and consumer confidence and high export prices for raw materials and agricultural products are fueling the economy, particularly in mining states. Australia's emphasis on reforms, low inflation, a housing market boom, and growing ties with China have been key factors behind the economy's 16 solid years of expansion. Drought, robust import demand, and a strong currency have pushed the trade deficit up in recent years, while infrastructure bottlenecks and a tight labor market are constraining growth in export volumes and stoking inflation. Australia's budget has been in surplus since 2002 due to strong revenue growth.
GDP (purchasing power parity)
Definition - World rank and map
$760.8 billion (2007 est.)
GDP (official exchange rate)
Definition
$908.8 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
3.9% (2007 est.)
GDP - per capita
Definition - World rank and map
$36,300 (2007 est.)
GDP - composition by sector
Definition
agriculture: 3%
industry: 26.4%
services: 70.6% (2007 est.)
Labor force
Definition
10.95 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 3.6%
industry: 21.2%
services: 75.2% (2004 est.)
Unemployment rate
Definition - World rank and map
4.4% (2007 est.)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: 2%
highest 10%: 25.4% (1994)
Distribution of family income - Gini index
Definition - World rank and map
30.5 (2006)
Inflation rate (consumer prices)
Definition - World rank and map
2.3% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
27.3% of GDP (2007 est.)
Budget
Definition
revenues: $321.3 billion
expenditures: $309.1 billion (2007 est.)
Public debt
Definition - World rank and map
15.4% of GDP
note: The Commonwealth government eliminated its net debt in 2006, but continues a gross debt issue to support the market for risk-free securities. (2007 est.)
Agriculture - products
Definition
wheat, barley, sugarcane, fruits, cattle, sheep, poultry
Industries
Definition
mining, industrial and transportation equipment, food processing, chemicals, steel
Industrial production growth rate
Definition - World rank and map
3.8% (2007 est.)
Electricity - production
Definition - World rank and map
236.7 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
219.8 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
10,669.5 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
572,400 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
903,200 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
43.8 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
333,200 bbl/day (2004)
Oil - imports
Definition - World rank and map
611,400 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
1.437 billion bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
38.62 billion cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
25.72 billion cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
1,248 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
12.9 billion cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
750.6 billion cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$56.2 billion (2007 est.)
Exports
Definition - World rank and map
$141.7 billion (2007 est.)
Exports - commodities
Definition
coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment
Exports - partners
Definition
Japan 19.1%, China 14.3%, South Korea 8%, India 5.9%, US 5.8%, NZ 5.2% (2006)
Imports
Definition - World rank and map
$159.4 billion (2007 est.)
Imports - commodities
Definition
machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products
Imports - partners
Definition
China 14.5%, US 13%, Japan 9.6%, Singapore 6.2%, Germany 5.2%, UK 4.5%, Thailand 4% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$26.91 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$824.9 billion (30 June 2007)
Stock of direct foreign investment - at home
Definition
$279 billion (2007 est.)
Stock of direct foreign investment - abroad
Definition
$257.9 billion (2007 est.)
Market value of publicly traded shares
Definition
$804.1 billion (2005)
Economic aid - donor
Definition
ODA, $2.123 billion (2006)
Currency (code)
Definition
Australian dollar (AUD)
Exchange rates
Definition
Australian dollars per US dollar - 1.2137 (2007), 1.3285 (2006), 1.3095 (2005), 1.3598 (2004), 1.5419 (2003)
Fiscal year
Definition
1 July - 30 June


Google
 
Web sitesatlas.com