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Overview Of The Economy In Australia
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Through the global recession, Australia's economy has grown and has been growing for the past 18 years. We have very low inflation, the housing market is soaring and our foreign ties along with our strong banking sector has sheltered us from the recession and we still maintain our strong economy while other developed nations are feeling the hardships.

  • Ranked second in the United Nations 2009 Human Development Index
  • First in Legatum's 2008 Prosperity Index
  • Sixth in The Economist worldwide Quality-of-Life Index for 2005
  • Melbourne was listed 2nd in The Economist's 2008 World's Most Livable Cities list (Perth was 4th, Adelaide was 7th and Sydney was 9th)
  • As of 2010, the Australian Securities Exchanges ranks 9th in the world, following the 2006 merger of the Sydney Futures Exchange and the Australian Stock Exchange.


Australia Economy Facts And Figures

Rank 13th (nominal) / 17th (PPP)

Currency Australian Dollar ($A or AUD)

Fiscal year 1 July - 30 June

Trade organisations APEC, WTO and OECD

GDP $1,219.722 billion (nominal)

$882.344 billion (PPP) (2010)

GDP growth 3.3% (2010)

GDP per capita $54,868 (nominal)

$39,692 (PPP) (2010)

GDP by sector agriculture: 4%; industry: 24.8%; services: 71.2% (2010 est.)

Inflation (CPI) 2.8% (Q-3-2010)

Gini index 0.331 (2009)[3]

Labour force 11.62 million (2010 est.)

Labour force
by occupation agriculture: 3.6%; industry: 21.1%; services: 75% (2009 est.)

Unemployment 4.9% (March 2010)

Main industries mining, industrial, education and transportation equipment, food processing, chemicals, steel

Ease of Doing Business Rank 10th

Exports $210.7 billion (19th, 2010 est.)

Export goods coal, iron ore, education, gold, meat, wool, alumina, wheat, machinery and transport equipment

Main export partners China (21.81%), Japan (19.19%), South Korea (7.88%), India (7.51%), United States (4.95%), United Kingdom (4.37%), New Zealand (4.1%) (2009)

Imports $200.4 billion (19th, 2010 est.)

Import goods machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products

Main import partners China (17.94%), United States (11.26%), Japan (8.36%), Thailand (5.81%), Singapore (5.54%), Germany (5.3%) (2009)

FDI stock $329.1 billion (31 December 2010 est.)

Gross external debt $1.169 trillion (31 December 2010 est.)

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