Australia

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Introduction - Australia:
Location - Australia:
People - Australia:
Government - Australia:
Economy - Australia:
Economy overview	Australia has an enviable Western-style capitalist 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. Australias emphasis on reforms, low inflation, and growing ties with China are other key factors behind the economys strength. Drought and strong import demand pushed the trade deficit up in recent years, although the trade balance improved in 2006. Housing prices probably peaked in 2005, diminishing the prospect that interest rates would be raised to prevent a speculative bubble. Conservative fiscal policies have kept Australias budget in surplus since 2002.

Gdp purchasing power parity	$674.6 billion (2006 est.)

Gdp official exchange rate	$644.7 billion (2006 est.)

Gdp real growth rate	2.7% (2006 est.)

Gdp per capita ppp	$33,300 (2006 est.)

Gdp composition by sector	agriculture: 3.8% industry: 26.2% services: 70% (2005 est.)

Labor force	10.66 million (2006 est.)

Labor force by occupation	agriculture: 3.6% industry: 21.2% services: 75.2% (2004 est.)

Unemployment rate	4.9% (2006 est.)

Population below poverty line	NA%

Household income or consumption by percentage share	lowest 10%: 2% highest 10%: 25.4% (1994)

Distribution of family income gini index	35.2 (1994)

Inflation rate consumer prices	3.8% (2006 est.)

Investment gross fixed	26.8% of GDP (2006 est.)

Budget	revenues: $267 billion expenditures: $258 billion; including capital expenditures of $NA (2006 est.)

Public debt	14.1% of GDP (2006 est.)

Agriculture products	wheat, barley, sugarcane, fruits, cattle, sheep, poultry

Industries	mining, industrial and transportation equipment, food processing, chemicals, steel

Industrial production growth rate	-3.5% (2006 est.)

Electricity production	225.3 billion kWh (2004)

Electricity consumption	209.5 billion kWh (2004)

Electricity exports	0 kWh (2004)

Electricity imports	0 kWh (2004)

Oil production	530,000 bbl/day (2005 est.)

Oil consumption	877,300 bbl/day (2004 est.)

Oil exports	333,200 bbl/day (2004)

Oil imports	611,400 bbl/day (2004)

Oil proved reserves	1.491 billion bbl (1 January 2005)

Natural gas production	37.03 billion cu m (2004 est.)

Natural gas consumption	26.37 billion cu m (2004 est.)

Natural gas exports	10.66 billion cu m (2004 est.)

Natural gas imports	0 cu m (2004 est.)

Natural gas proved reserves	821.2 billion cu m (1 January 2005 est.)

Current account balance	-$41.62 billion (2006 est.)

Exports	$117 billion (2006 est.)

Exports commodities	coal, gold, meat, wool, alumina, iron ore, wheat, machinery and transport equipment

Exports partners	Japan 19.6%, China 12.3%, South Korea 7.5%, US 6.2%, India 5.5%, NZ 5.5%, UK 5% (2006)

Imports	$127.7 billion (2006 est.)

Imports commodities	machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products

Imports partners	China 14.4%, US 14.1%, Japan 9.6%, Singapore 6%, Germany 5.1% (2006)

Reserves of foreign exchange and gold	$48.25 billion (2006 est.)

Economic aid donor	ODA, $894 million (FY99/00)

Debt external	$585.1 billion (30 June 2006 est.)

Currency code	Australian dollar (AUD)

Exchange rates	Australian dollars per US dollar - 1.3285 (2006), 1.3095 (2005), 1.3598 (2004), 1.5419 (2003), 1.8406 (2002)

Communications - Australia:
Transportation - Australia:
Military - Australia:

This page was last updated on 16 September, 2007
Source: CIA >>>

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home : Countries: Australia and Oceania : Richest : Monarchy : Biggest - over 1 000 000 km2 : Population to 100 000 000 people

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Australia

Australia: Travel tips, articles, photos, gallery, cities database, population, pics, flags, statistics, free maps online

Back to Countries, Click to read the whole article: Australia

Economy overview

Gdp purchasing power parity

$674.6 billion (2006 est.)

Gdp official exchange rate

$644.7 billion (2006 est.)

Gdp real growth rate

2.7% (2006 est.)

Gdp per capita ppp

$33,300 (2006 est.)

Gdp composition by sector

agriculture: 3.8% industry: 26.2% services: 70% (2005 est.)

Labor force

10.66 million (2006 est.)

Labor force by occupation

agriculture: 3.6% industry: 21.2% services: 75.2% (2004 est.)

Unemployment rate

4.9% (2006 est.)

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: 2% highest 10%: 25.4% (1994)

Distribution of family income gini index

35.2 (1994)

Inflation rate consumer prices

3.8% (2006 est.)

Investment gross fixed

26.8% of GDP (2006 est.)

Budget

revenues: $267 billion expenditures: $258 billion; including capital expenditures of $NA (2006 est.)

Public debt

14.1% of GDP (2006 est.)

Agriculture products

wheat, barley, sugarcane, fruits, cattle, sheep, poultry

Industries

mining, industrial and transportation equipment, food processing, chemicals, steel

Industrial production growth rate

-3.5% (2006 est.)

Electricity production

225.3 billion kWh (2004)

Electricity consumption

209.5 billion kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

530,000 bbl/day (2005 est.)

Oil consumption

877,300 bbl/day (2004 est.)

Oil exports

333,200 bbl/day (2004)

Oil imports

611,400 bbl/day (2004)

Oil proved reserves

1.491 billion bbl (1 January 2005)

Natural gas production

37.03 billion cu m (2004 est.)

Natural gas consumption

26.37 billion cu m (2004 est.)

Natural gas exports

10.66 billion cu m (2004 est.)

Natural gas imports

0 cu m (2004 est.)

Natural gas proved reserves

821.2 billion cu m (1 January 2005 est.)

Current account balance

-$41.62 billion (2006 est.)

Exports

$117 billion (2006 est.)

Exports commodities

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

Exports partners

Japan 19.6%, China 12.3%, South Korea 7.5%, US 6.2%, India 5.5%, NZ 5.5%, UK 5% (2006)

Imports

$127.7 billion (2006 est.)

Imports commodities

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

agriculture: 3.8%
industry: 26.2%
services: 70% (2005 est.)

agriculture: 3.6%
industry: 21.2%
services: 75.2% (2004 est.)

lowest 10%: 2%
highest 10%: 25.4% (1994)

revenues: $267 billion
expenditures: $258 billion; including capital expenditures of $NA (2006 est.)