Australia:
Economy

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Other pages in this profile of Australia:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


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

Australia: Economy

Australia:
Economy