ECONOMIC INFORMATION

Population: 19.9m

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Population growth: 1.15%

 

Population density (people per sq. km): 3

UN Human Development Index ranking: 3/177

Gross national income (current US$): $430.5bn (2003)

Gross national income per capita: $21,650

PPP Gross national income: $562.6bn

PPP Gross national income per capita: $28,290

GDP growth: 1.2% (2003)

GDP breakdown Agriculture: 3.8%, Industry: 25.6%, Services: 70.6%

Inflation (12-month average): 3.7 (2003)

Gross capital formation as % of GDP: 24.1%

Final consumption expenditure as % of GDP (growth): 78.5% (3.2%)

Exports of goods & services as % of GDP: 19.6%

Top 3 export markets: Japan, ASEAN, EU

Local industries: Mining, industrial & transportation equipment, food processing, chemicals, steel

WEF Growth Competitiveness ranking *: 14/104

WEF Business Competitiveness ranking **: 13/103

WEF Quality of the Business Environment ranking: 12/103

Transparency International Corruption Perceptions ranking: 9/145

Languages : English (official)

 

 

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FDI INFORMATION

Region: Oceania

No. of projects (Jan-Sep 2004): 305

Market-share of projects in the region: 83.3%

Value of projects relative to GDP : 5.9%

Top 3 destination sectors: IT & software, food & drink, metals/mining

Top 3 business functions: Manufacturing, sales, marketing & support, retail

Top 3 source countries: US, UK, Japan

Top 3 investors: Toyota, Mitsubishi, Xstrata

 

 

IPA

 

Name: Invest Australia

 

Web address: www.investaustralia.gov.au

* World Economic Forum Growth Competitiveness Ranking assesses an economy’s ability to grow consistently

** World Economic Forum Business Competitiveness Ranking assesses the microeconomic factors that contribute to economic growth

*** The difficulty of hiring workers and the difficulty and expense of firing workers is reflected as an index where the higher the value the more rigid the regulations