Australia Economy

The population of Australia is 25 million, occupying a land mass of 2.97 million square miles. Labor force is 12.7 million. Inflation is 1.8%.  Labor force by occupation is services 79.2%, agriculture 2.7%, construction 8.8%, manufacturing 7.4%, mining 1.9%. Unemployment  5.5%.

Australia’s Nominal GDP is $1.315 trillion ranking 13^th. GDP by sector is agriculture 2.2%, construction 8.7%, mining 6.9%, manufacturing 6% and services 61%. Nominal Per Capita GDP is $58,941 ranking 10^th.

Main industries include financial services, insurance, construction, healthcare, social assistance, mining, scientific and technical services and manufacturing. Ease of doing business rank 18^th.

Exports are $190.2 billion and include iron ore, coal, petroleum gases, gold, synthetic corundum, wheat, meslin flour, beef, pork, lamb, goat and wool sold to China 31.6%, Japan 13.9%, EU 7.5%, South Korea 6.7%, US 4.6%, other 35.6%.

Imports are $196.1 billion and include cars, petroleum, data processing equipment, food, cigars, wine, baked goods from China 23.4%, EU 19.3%, US 11.5%, Japan 7.7%, Thailand 5.7%, other 32.5%.

Government revenue $461 billion, spending $484 billion. Debt 42.3% of GDP. External debt $1.487 trillion. Foreign reserves $52 billion.

https://en.wikipedia.org/wiki/Economy_of_Australia

Comments

Australia trades primarily in Asia with China, Japan, South Korea and Thailand and secondarily with the US and EU.

Norb Leahy, Dunwoody GA Tea Party Leader