What is the Australian economy, the state of the Australian economy

Located in the South Pacific Ocean and the Indian Ocean, Australia is a latecomer developed country. Since the 80s of the 20th century, Australia's economy has maintained sustained growth and is one of the strongest economic growth countries in the world. Services, manufacturing, mining and agriculture are Australia's four leading industries, with services being Australia's largest.

In recent years, Australia's mining industry has grown rapidly, driven by the huge demand for raw materials in new economies.

In 2008, 70% of Australia's agricultural products, 80% of resource products and 18% of manufacturing were used for exports, and services exports also accounted for a significant proportion. In recent years, Australia has continuously improved the international environment, and since 2004, it has signed free agreements with Singapore, the United States and Thailand. In terms of multilateral cooperation, Australia has actively promoted the Doha Round of negotiations and played an active role in global warming and environmental issues.

Australian Economy (Australian Economic Situation).

Australia is an industrialized country with developed agriculture and animal husbandry, rich in natural resources, rich in sheep, cattle, wheat and sugar, and is also an important producer and exporter of mineral products in the world. Agriculture, animal husbandry and mining are Macao's traditional industries, manufacturing and high-tech industries are developing rapidly, and the service industry has become the leading industry of the national economy. Since the 70s of the last century, a series of economic reforms have been carried out, vigorously developing foreign countries, and the economy has maintained rapid growth.

From 1991 to 2008, the average annual growth rate of the economy was among the highest among OECD countries. In recent years, economic growth has slowed as international commodities** have declined, Australia's mining boom has faded, public financial pressures have risen, and economic growth has slowed. However, Australia's financial system is stable, with strict regulation and large room for macroeconomic policy adjustment, and its performance in the international financial crisis is better than that of other Western countries.

So far, the Australian economy has maintained positive growth for 27 consecutive years.

Australia is a latecomer to the development of capitalism. In the two world wars, especially during the Second World War, the economy developed further without foreign competition. By the end of the Second World War, Australia had entered the ranks of advanced capitalism.

Australia's economic downturn is mainly due to inflation and higher interest rates in Australia.

The economic situation in Australia is as follows:

1. Australia is a highly developed capitalist country with its capital in Canberra. As the most economically developed country in the southern hemisphere, the world's 12th largest economy, and the world's fourth largest exporter of agricultural products, it is also the world's largest exporter of a variety of minerals, so it is called "the country sitting on a minecart".

2. Since the 1970s, Australia's economy has undergone major structural adjustments, with the rapid development of tourism and service industries, accounting for a gradual increase in the proportion of GDP, which has now reached about 70%. ** The industry is developed and has become one of the world's leading gold producing countries. Australia Post is one of the few postal systems in the world that makes money without the need for a subsidy.