Australian economy
If you’re migrating to Australia – you’ll want to know about the strength of the Australian economy. To quote the Department of Foreign Affairs and Trade:
“Australia is a stable, democratic and culturally diverse nation with a highly skilled workforce and one of the strongest performing economies in the world.”
Here are the facts and figures to back it up:
- In 2015, Australia enjoyed its 25th year of uninterrupted annual economic growth, averaging 3.3 per cent a year
- Australia weathered the 2008 global financial crisis better than most developed economies – without a recession
- Unemployment is low, at around 5/6%
- Per capita GDP is higher than the UK, France and Germany in terms of purchasing power parity
- Australia is rated ‘triple A’ by all three global rating agencies and has levels of net public debt that are among the lowest in the OECD
- Australia is a global leader in five sectors: agribusiness, education, tourism, mining and wealth management
- Our country Australia has 4% of the world’s total foreign students in tertiary education. This is the third largest in the world
- Australian agriculture feeds around 60 million people per year
- Australia is currently ranked fifth on the Index of Economic Freedom
- Business expenditure on research and development has more than tripled in the last decade reaching A$18.8 billion in 2013–14
- 15 out of 20 industries in Australia have productivity levels above global averages
More information about living in Australia
Read on to find out more…
- Figuring out where to live in Australia? Read about different places around the country
- Need a place to live? Find out where to start looking for student accommodation
- Need to earn $? Find out about working in Australia
- Want to travel on public transport? See our public transport guide for Australian cities
- Want to read fun facts? Discover what you don’t know in our interesting Australian facts
And lastly, visit our pages on migrating to Australia and studying in Australia to learn how to get you new life started.