Economy Overview
Australia has a prosperous Western-style capitalist economy, with a per capita GDP on par with the four dominant West European economies. Rising output in the domestic economy has been offsetting the global slump, and business and consumer confidence remains robust. Australia's emphasis on reforms is another key factor behind the economy's strength. The stagnant economic conditions in major export partners and the impact of the worst drought in 100 years cast a shadow over prospects for 2003.
Agriculture Products
wheat, barley, sugarcane, fruits; cattle, sheep, poultry
Industries
mining, industrial and transportation equipment, food processing, chemicals, steel
Industrial Production Growth Rate
4.3% (2002 est.)
Labor Force
9.2 million (37256)
Electricity production
198.2 billion kWh (2001)
Electricity production by source
Fossil fuel: 90.8%
Hydro: 8.3%
Other: 0.9% (2001)
Nuclear: 0%
Electricity Consumption
184.4 billion kWh (2001)
Electricity Exports
0 kWh (2001)
Electricity Imports
0 kWh (2001)
Economic Aid - Donor
ODA, $894 million (FY 99/00)
Currency
Australian dollar (AUD)
Unemployment Rate
6.3% (2002)
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)
Budget
Revenues: $86.8 billion
Expenditures: $84.1 billion, including capital expenditures of $NA (FY 00/01 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$176.8 billion (yearend 2002 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Australian dollars per US dollar - 1.84 (2002), 1.93 (2001), 1.72 (2000), 1.55 (1999), 1.59 (1998)
