GDP:
Purchasing power parity- $528 billion (2002 est.)
Real GDP growth rate:
3.6% (2002 est.)
GDP per Capita
Purchasing power parity- $27,000 (2002 est.)
GDP composition by sector:
Agriculture: 3%
Industry: 26%
Services: 71%
Household income or consumption by percentage share:
Lowest 10%: 2%
Highest 10%: 25.4%
Distribution of family income Gini index:
35.2 (1994)
Inflation rate (consumer prices):
2.8% (2002 est.)
Labor Force:
9.2 million (December 2001)
Labor Force by Occupation:
Services: 73%
Industry: 22%
Agriculture: 5%
(1997est.)
Unemployment rate:
6.3% (2002)
Budget:
Revenues: 86.8 billion
Expenditures: 84.1 billion, including capita expenditures of $NA (FY00/01 est.)
Exports:
$66.6 billion (2002 est.)
Exports-Partners:
Developing countries: 45.6%
Japan: 19.7%
ASEAN: 13.3%
EU: 11.7%
US: 9.7%
Imports:
$68 billion (2002 est.)
Import commodities:
Machinery and transport equipment, computers and office machines, telecommunications equipment and parts; crude oil and petroleum products
Import Partners:
Developing countries: 31.7%
EU: 21.6%
US: 18.9%
ASEAN: 14.8%
Japan: 13.0%
(2001 est.)
Debt-external:
$176.8 billion (2001 est.)
Economic aid-donor:
ODA, $894 million (FY99/00)
Currency:
Australian Dollar
Currency Code:
AUD
Exchange Rates:
Australian dollar per U.S. dollar – 1.8406 (2002)
Fiscal Year:
1 July - 30 June
Australia’s Natural Resources:
Australia’s natural resources include: bauxite, coal, iron ore, tin, copper, gold, silver, uranium, nickel, tungsten, mineral sands, lead, zinc, diamonds, natural gas, and petroleum.
Environmental Issues:
There are many different environmental issues that are happening right now in Australia. These issues include: soil erosion from overgrazing, industrial development, urbanization, poor farming practices, soil salinity due to the use of poor quality water, desertification, clearing for agricultural purposes threatens the natural habitat of many animal and plant species. Increased shipping and its popularity as a tourist site threaten the Great Barrier Reef, which is the largest coral reef in the world. There are also limited natural fresh water resources.
Agricultural Products:
The agricultural products available in Australia include: wheat, barley, sugarcane, fruits, cattle, sheep, and poultry.
International Disputes:
There is a maritime delimitation and resource-sharing agreements signed with East Timor resolve dispute over “Timor Gap” hydrocarbon reserves. There is no agreement reached on dividing Timor Sea with Indonesia. Australia declares a territorial claim to Antarctica and its continental self.
Interesting Information:
There are many interesting things I have learned about Australia while doing this project. For example, some of the natural hazards are cyclones along the coast, severe droughts, and forest fires. The continent/country is slightly smaller than the contiguous U.S. Australia is the sixth largest country, and the world’s smallest continent. The population of Australia is 19,731,984. There is a regular invigorating sea breeze known as “the Doctor” that occurs along the west coast in the summer.
Basic Human Needs:
Australia is pretty well off as far as basic human needs. The agricultural resources will keep them fed well. The people of Australia have access to a sanitary water supply. They also have access to required doctors and prescriptions. The life expectancy of someone who lives in Australia is 79. The poverty rate is low for Australian citizens.
Economic Well Being
Australia ranks close to the United States concerning economic well-being. The GDP as of 2002 according to The Word Bank is $410.6 billion. The unemployment rate is only 6.3% according to The World fact book as of 2003.
Gender Equality
The gender equality of men and woman is slowly but surely changing all over the world, although I think it will take a great deal more time for woman to ever be equal to a man, anywhere in the world. For example: (Australia), Female agriculture is 6% (as a percent of the male labor force). Female contributing family workers is 59% and Male contributing family workers is 41%. It is getting much better, but men and women are still not equal in the workforce.
Improvements of Australia’s Standard of Living
Australia’s standard of living is improving every day. The standard of living in Australia right now is pretty respectable. The first priorities for Australia are education, health care, and military services. As I stated before, the water is sanitary, and the people have plenty of agricultural resources, such as: poultry, sheep, fruits, cattle, etc.
United States Data
It surprises me that the United States is ranked number seven in the Human Development reports. This is probably due to the spend, spend notion we go by. It also surprises me that the life expectancy at birth is lower than Australia (Australia is 79 and U.S. is 76). It also surprises me that Australia is so close in rank with the United States.