Australia - Economic Indicators

Oceania, continent between the Indian Ocean and the South Pacific Ocean

27 00 S, 133 00 E

Oceania

slightly smaller than the US contiguous 48 states

0 km

25,760 km

generally arid to semiarid; temperate in south and east; tropical in north

mostly low plateau with deserts; fertile plain in southeast

highest point: Mount Kosciuszko 2,228 m

bauxite, coal, iron ore, copper, tin, gold, silver, uranium, nickel, tungsten, rare earth elements, mineral sands, lead, zinc, diamonds, natural gas, petroleum

arable land 6.2%; permanent crops 0.1%; permanent pasture 47.1%

25,500 sq km (2012)

population is primarily located on the periphery, with the highest concentration of people residing in the southeast; a secondary population center is located in and around Perth in the west; of the States and Territories, New South Wales has, by far, the largest population; the interior, or "outback", has a very sparse population

cyclones along the coast; severe droughts; forest fires

soil erosion from overgrazing, deforestation, industrial development, urbanization, and poor farming practices; soil salinity rising due to the use of poor quality water; desertification; clearing for agricultural purposes threatens the natural habitat of many unique animal and plant species; the Great Barrier Reef off the northeast coast, the largest coral reef in the world, is threatened by increased shipping and its popularity as a tourist site; limited natural freshwater resources; drought, overfishing, pollution, and invasive species are also problems

world's smallest continent but sixth-largest country; the largest country in Oceania, the largest country entirely in the Southern Hemisphere, and the largest country without land borders; the only continent without glaciers; population concentrated along the eastern and southeastern coasts; the invigorating sea breeze known as the "Fremantle Doctor" affects the city of Perth on the west coast and is one of the most consistent winds in the world

23,232,413 (July 2017 est.)

English 25.9%, Australian 25.4%, Irish 7.5%, Scottish 6.4%, Italian 3.3%, German 3.2%, Chinese 3.1%, Indian 1.4%, Greek 1.4%, Dutch 1.2%, other 15.8% (includes Australian aboriginal .5%), unspecified 5.4%

English 76.8%, Mandarin 1.6%, Italian 1.4%, Arabic 1.3%, Greek 1.2%, Cantonese 1.2%, Vietnamese 1.1%, other 10.4%, unspecified 5% (2011 est.)

Protestant 23.1% (Anglican 13.3%, Uniting Church 3.7%, Presbyterian and Reformed 2.3%, Baptist 1.5%, Pentecostal 1.1%, Lutheran .7%, other Protestant .5%), Roman Catholic 22.6%, other Christian 4.2%, Muslim 2.6%, Buddhist 2.4%, Orthodox 2.3% (Eastern Orthodox 2.1%, Oriental Orthodox .2%), Hindu 1.9%, other 1.3%, none 30.1%, unspecified 9.6% (2016 est.)

1.03% (2017 est.)

12.1 births/1,000 population (2017 est.)

7.3 deaths/1,000 population (2017 est.)

5.5 migrant(s)/1,000 population (2017 est.)

population is primarily located on the periphery, with the highest concentration of people residing in the southeast; a secondary population center is located in and around Perth in the west; of the States and Territories, New South Wales has, by far, the largest population; the interior, or "outback", has a very sparse population

Sydney 4.505 million; Melbourne 4.203 million; Brisbane 2.202 million; Perth 1.861 million; Adelaide 1.256 million; CANBERRA (capital) 423,000 (2015)

28.7 years (2014 est.)

6 deaths/100,000 live births (2015 est.)

1.77 children born/woman (2017 est.)

67.8%

9.4% of GDP (2014)

3.5 physicians/1,000 population (2015)

3.8 beds/1,000 population (2014)

urban: 100% of population

rural: 100% of population

total: 100% of population

urban: 0% of population

rural: 0% of population

total: 0% of population (2015 est.)

urban: 100% of population

rural: 100% of population

total: 100% of population

urban: 0% of population

rural: 0% of population

total: 0% of population (2015 est.)

0.1% (2016 est.)

25,000 (2016 est.)

<500 (2016 est.)

29% (2016)

0.2% (2007)

5.2% of GDP (2014)

parliamentary democracy (Federal Parliament) under a constitutional monarchy; a Commonwealth realm

6 states and 2 territories*; Australian Capital Territory*, New South Wales, Northern Territory*, Queensland, South Australia, Tasmania, Victoria, Western Australia

Ashmore and Cartier Islands, Christmas Island, Cocos (Keeling) Islands, Coral Sea Islands, Heard Island and McDonald Islands, Norfolk Island

1 January 1901 (from the federation of UK colonies)

Australia Day (commemorates the arrival of the First Fleet of Australian settlers), 26 January (1788); ANZAC Day (commemorates the anniversary of the landing of troops of the Australian and New Zealand Army Corps during World War I at Gallipoli, Turkey), 25 April (1915)

common law system based on the English model

accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction

18 years of age; universal and compulsory

Australian Greens Party [Richard DI NATALE]

Australian Labor Party [Bill SHORTEN]

Country Liberal Party or CLP [Gary HIGGINS]

Liberal National Party of Queensland or LNP [Deborah FRECKLINGTON]

Liberal Party of Australia [Malcolm TURNBULL]

The Nationals [Michael MCCORMACK]

Nick Xenophon Team [Nick XENOPHON]

Pauline Hanson’s One Nation [Pauline HANSON]

business groups, environmental groups, social groups, trade unions

ADB, ANZUS, APEC, ARF, ASEAN (dialogue partner), Australia Group, BIS, C, CD, CP, EAS, EBRD, EITI (implementing country), FAO, FATF, G-20, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NEA, NSG, OECD, OPCW, OSCE (partner), Pacific Alliance (observer), Paris Club, PCA, PIF, SAARC (observer), SICA (observer), Sparteca, SPC, UN, UNCTAD, UNESCO, UNHCR, UNMISS, UNMIT, UNRWA, UNTSO, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC

blue with the flag of the UK in the upper hoist-side quadrant and a large seven-pointed star in the lower hoist-side quadrant known as the Commonwealth or Federation Star, representing the federation of the colonies of Australia in 1901; the star depicts one point for each of the six original states and one representing all of Australia's internal and external territories; on the fly half is a representation of the Southern Cross constellation in white with one small, five-pointed star and four larger, seven-pointed stars

Commonwealth Star (seven-pointed Star of Federation), golden wattle tree; national colors: green, gold

Following two decades of continuous growth, low unemployment, contained inflation, very low public debt, and a strong and stable financial system, Australia enters 2018 facing a range of growth constraints, principally driven by the sharp fall in global prices of key export commodities. Demand for resources and energy from Asia and especially China is growing at a slower pace and sharp drops in export prices have impacted growth.

The services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control.

Australia benefited from a dramatic surge in its terms of trade in recent years, although this trend has reversed due to falling global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas Project, will significantly expand the resources sector.

Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the WTO, APEC, the G20, and other trade forums. Australia’s free trade agreement (FTA) with China entered into force in 2015, adding to existing FTAs with the Republic of Korea, Japan, Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand. Australia continues to negotiate bilateral agreements with Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic Partnership that includes the 10 ASEAN countries and China, Japan, Korea, New Zealand and India.

$1.235 trillion (2017 est.)

$1.209 trillion (2016 est.)

$1.179 trillion (2015 est.)

$1.39 trillion (2017 est.)

2.2% (2017 est.)

2.5% (2016 est.)

2.4% (2015 est.)

$49,900 (2017 est.)

$49,600 (2016 est.)

$49,100 (2015 est.)

22.3% of GDP (2017 est.)

21.9% of GDP (2016 est.)

22.1% of GDP (2015 est.)

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

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

1% (2017 est.)

12.91 million (2017 est.)

5.6% (2017 est.)

5.7% (2016 est.)

NA%

30.3 (2008 est.)

35.2 (1994 est.)

33.2% of GDP (2017 est.)

-1.7% of GDP (2017 est.)

47.1% of GDP (2017 est.)

46.6% of GDP (2016 est.)

1 July - 30 June

2% (2017 est.)

1.3% (2016 est.)

3% (28 February 2013 est.)

4.35% (31 December 2010 est.)

5.3% (31 December 2017 est.)

5.42% (31 December 2016 est.)

$271.9 billion (31 December 2017 est.)

$243.1 billion (31 December 2016 est.)

$1.586 trillion (31 December 2017 est.)

$1.415 trillion (31 December 2016 est.)

$2.336 trillion (31 December 2017 est.)

$2.098 trillion (31 December 2016 est.)

$1.187 trillion (31 December 2015 est.)

$1.289 trillion (31 December 2014 est.)

$1.366 trillion (31 December 2013 est.)

$-21.68 billion (2017 est.)

$-33.31 billion (2016 est.)

$224.5 billion (2017 est.)

$191.7 billion (2016 est.)

iron ore, coal, gold, natural gas, beef, aluminum ores and conc, wheat, meat (excluding beef), wool, alumina, alcohol

China 30.5%, Japan 12.4%, US 6.5%, South Korea 6.1% (2016)

$215.4 billion (2017 est.)

$198.5 billion (2016 est.)

motor vehicles, refined petroleum, telecommunication equipment and parts; crude petroleum, medicaments, goods vehicles, gold, computers

China 23.4%, US 11.5%, Japan 7.8%, Thailand 5.6%, Germany 5.3%, South Korea 4.3% (2016)

$60.3 billion (31 December 2017 est.)

$55.07 billion (31 December 2016 est.)

$1.67 trillion (31 December 2017 est.)

$1.547 trillion (31 December 2016 est.)

$647.7 billion (31 December 2017 est.)

$617.7 billion (31 December 2016 est.)

$443.4 billion (31 December 2017 est.)

$441.4 billion (31 December 2016 est.)

Australian dollars (AUD) per US dollar -

1.31 (2017 est.)

1.34 (2016 est.)

1.34 (2015 est.)

1.33 (2014 est.)

1.11 (2013 est.)

237.9 billion kWh (2015 est.)

223.6 billion kWh (2015 est.)

0 kWh (2016 est.)

0 kWh (2016 est.)

67.03 million kW (2015 est.)

72.9% of total installed capacity (2015 est.)

0% of total installed capacity (2015 est.)

10.9% of total installed capacity (2015 est.)

16.1% of total installed capacity (2015 est.)

289,700 bbl/day (2016 est.)

213,600 bbl/day (2016 est.)

339,500 bbl/day (2016 est.)

1.821 billion bbl (1 January 2017 est.)

472,100 bbl/day (2016 est.)

1.1 million bbl/day (2016 est.)

60,290 bbl/day (2016 est.)

564,300 bbl/day (2016 est.)

67.2 billion cu m (2015 est.)

46.99 billion cu m (2015 est.)

34.06 billion cu m (2015 est.)

6.373 billion cu m (2015 est.)

1.989 trillion cu m (1 January 2017 est.)

385 million Mt (2015 est.)

the Australian Broadcasting Corporation (ABC) runs multiple national and local radio networks and TV stations, as well as Australia Network, a TV service that broadcasts throughout the Asia-Pacific region and is the main public broadcaster; Special Broadcasting Service (SBS), a second large public broadcaster, operates radio and TV networks broadcasting in multiple languages; several large national commercial TV networks, a large number of local commercial TV stations, and hundreds of commercial radio stations are accessible; cable and satellite systems are available (2009)

.au

VH (2016)

480 (2013)

1 (2013)

condensate/gas 637 km; gas 30,054 km; liquid petroleum gas 240 km; oil 3,609 km; oil/gas/water 110 km; refined products 72 km (2013)

2,000 km (mainly used for recreation on Murray and Murray-Darling River systems) (2011)

2% of GDP (2016)

1.98% of GDP (2015)

1.8% of GDP (2014)

1.68% of GDP (2013)

1.7% of GDP (2012)

Australian Defense Force (ADF): Australian Army (includes Special Operations Command), Royal Australian Navy (includes Naval Aviation Force), Royal Australian Air Force, Joint Operations Command (JOC) (2016)

17 years of age for voluntary military service (with parental consent); no conscription; women allowed to serve in most combat roles (2018)

in 2018, Australia and Timor-Leste signed a permanent maritime border treaty, scrapping a 2007 development zone and revenue sharing arrangement between the countries; Australia asserts land and maritime claims to Antarctica; Australia's 2004 submission to the Commission on the Limits of the Continental Shelf extends its continental margins over 3.37 million square kilometers, expanding its seabed roughly 30 percent beyond its claimed EEZ; all borders between Indonesia and Australia have been agreed upon bilaterally, but a 1997 treaty that would settle the last of their maritime and EEZ boundary has yet to be ratified by Indonesia's legislature; Indonesian groups challenge Australia's claim to Ashmore Reef; Australia closed parts of the Ashmore and Cartier reserve to Indonesian traditional fishing

Tasmania is one of the world's major suppliers of licit opiate products; government maintains strict controls over areas of opium poppy cultivation and output of poppy straw concentrate; major consumer of cocaine and amphetamines