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    Australia

    Overview of Australia

    The only continent covered by a single country

    7th most popular country for international tourism

    24th largest goods and trading partner to the United States

    Home to many popular coastal cities such as Melbourne, Sydney, Brisbane, and more

    Driest continent on earth (besides Antarctica)

    Contains the Great Barrier Reef

    Australia’s Economy

    $1,450,000,000,000 USD

    Australia’s GDP (2019)

    Australia’s GDP

    GDP: 2% annual growth rate

    13th highest nominal GDP in the world

    Real GDP per person: $53,800 USD

    Distribution of GDP across economic sectors:

    Services (66.56%)*: research, surveying, legal

    Industry (24.12%): mining, tourism, manufacturing

    Agriculture (2.46%): forestry, fishing, farms

    *Australia’s most profitable industry

    Scarce

    Recent droughts have led to low water storage levels

    Water scarcity has led to various water restrictions (food, consumption)

    Scarce and Growth

    Growth

    Aluminum, zinc, and coal mining industries

    Online grocery and food delivery platforms

    Cryptocurrency exchanges

    Australia’s Top Exports

    China(Australia’s 1st most frequent trading partner) Iron ore Coal LiquefiedNatural Gas
    United States(Australia’s 2nd most frequent trading partner) Beef Aviation Equipment PharmaceuticalProducts
    Japan(Australia’s 3rd most frequent trading partner) Coal Iron ore Beef

    Real exports of goods and services in 2019 Q4: 106,933

    Real imports of goods and services in 2019 Q4: 98,515

    Net exports of goods and services in 2019 Q4: 8,418

    Life in Australia

    Life in Australia: Housing

    Average house prices (2019):

    Sydney: $666,036 USD

    Melbourne: $513,999 USD

    Brisbane: $369,633 USD

    People typically live in houses, terraces, semi-detached houses, duplexes, townhouses, and apartment units

    Life in Australia: Transportation

    Trains: many high speed trains in major cities

    Buses (most popular in Sydney, Melbourne, & Brisbane)

    Biking/Cycling: used by many students

    Ferries: not as popular, but still an option for transportation here

    Life in Australia: Education

    Third most popular international student destination in the world

    Contains six of the world’s top 100 universities

    Australian universities have produced 15 Nobel laureates

    Tourism

    A complex idea can be conveyed with just a single still image, namely making it possible to absorb large amounts of data quickly.

    Attracts around 10 million tourists annually

    Tourism generated an estimated $43.9 billion (USD) in 2018

    970 people arrive in Australia every hour

    Sydney Opera House

    Great Barrier Reef

    National parks (Blue Mountain, Purnululu, etc.)

    Unemployment

    Unemployment Rate: 5.14% (2019)

    Top 5 most in-demand professions:

    Registered Nurses

    Software and application programmers

    Electricians

    Carpenters

    Secondary School Teachers

    Money in Australia

    Currency

    Australian Dollars (AUD)

    AU$0.66 = $1.00 USD

    Polymer notes of $5, $10, $20, $50, and $100

    Coin denominations between $0.05 and $2.00

    More about Australia

    Social Programs

    Australia offers age pensions, youth allowance, sick allowance, and more.

    Economy

    Australia has a mixed market economy, much like the United States

    Living

    Since many of Australia’s popular cities are along a coast, a lot of Australia operates on beach cities

    Money Fact

    Australia developed the first ever plastic bank note

    Wine Industry

    Australia has over 60 separate wine regions

    The Outback

    Only about 60,000 people live in the Outback of Australia

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