Data Alert: Australia’s open and resilient economy
10 November 2011
Building on 20 years of uninterrupted growth, the Australian economy continues to perform solidly and has been ranked the second most resilient economy in the world for two years running. Australia also ranks third in the world for economic freedom, a position it has held for three consecutive years to 2011.
Unemployment is low, inflation is contained and Australian Government net debt is amongst the lowest amongst OECD countries. Australia continues to benefit from a significant rise in the terms of trade and a healthy trade surplus. Demand for Australia’s minerals and natural gas exports, notably from China and other Asian countries, underpins this strong performance.
Financial services remains the largest contributor to GDP with mining now the second largest. Foreign direct investment into Australia continues to grow, demonstrating investor confidence in the strong and resilient Australian economy.
Download Austrade Data Alert: Australian Economy: Key facts
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