Industries and Economy of Australia

Economic structure of Australia

• Rajabova Zulaykho

Economy

• The economy of Australia is a developed, modern market economy with a GDP of approximately US$1.23 trillion
• Australia was also ranked the 19th largest importer and 19th largest exporter
• Australia is a member of the APEC, G20, OECD and WTO organisations

• The Australian economy is dominated by its service sector, representing 68% of Australian GDP.
• The Australian economy is dependent on imported crude oil and petroleum products, the economy’s petroleum import dependency is around 80% - crude oil + petroleum products

Industry

• Australian food industry is also developed. Producing and exporting beef and mutton and milk products are some of the main economic activities.
• Farming sheep and cattle is also important.
• Australia is a great producer and exporter of sugar and wool.

• Australia is 3rd country in producing gold.

• It is 4th in producing stone coal, after China, the USA and India.
• Australia exported 266.2 million tonnes of iron ore to China
• China is also Australia’s largest source of imports. Major imports from China include clothing, communications equipment, computers, prams, toys, games and sporting goods, furniture and televisions.

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• Zlatko Bečak, Toni Božić and Stipe Jakus