Australia: Economic Indicators

Country Information

General

Investing and doing business in Australia

Government

Accessing and entering Australia

Economic indicators

Economic indicators (2004)

Merchandise Trade 2003 - 04 ($A billion)
Exports	108.905
Imports	131.020
Trade deficit	-22.114

Australia is the 15th largest economy in the world with a modern services sector nowadays contributing almost 80% of GDP.

GDP

$US622.7 billion

GDP per capita

$US30,695

Real GDP growth (% YOY)

3.5

Composition of GDP

Purchasing Power Parity (PPP)

International Monetary Fund Per Capita PPP Rankings (2004)
Country	Ranking	PPP (International $)
Australia	11	29,814
In comparison:
Ireland	4	32,843
Hong Kong	14	29,239
China	94	5,791

Exchange rate

$A1 - $US0.7980 (Mar 2005)

Foreign Direct Investment

Public debt

18.2% of GDP (2003)

Inflation rate

Imports/Exports

Merchandise trade Main export destinations Main import sources
Major exports: coal, gold, iron ore, crude oil and petroleum products, wheat, aluminum.
Major imports: passenger motor vehicles, computers, crude oil and petroleum products, aircraft and parts, medicaments.

How much do things cost?

Big Mac Index ( The Economist )
	Big Mac prices (USD at exchange rate on 13 Dec 04)
China	1.26
South Korea	2.36
Australia	2.46
United States	3.00
Britain	3.61

Eastern Standard Time (+10 hours UTC)

Australian Capital Territory, New South Wales, Queensland, Tasmania and Victoria

Central Standard TIme (+9.5 hours UTC)

Northern Territories and South Australia

Western Standard Time (+8 hours UTC)

Western Australia

Summer daylight saving time:
Add one hour in all states except Northern Territories, Queensland and Western Australia.