Australian GDP:

Australia General overview:

Here we will discuss Australian GDP. Its official full name is called Commonwealth of Australia. His capital name is Canberra and its largest city name is Sydney. Her official and national language is English. When we talk about its religion, in Australia 52% of Christians live in Australia. 30% of Australians have no religion. 2.5% Muslims, 2.4% Buddhism, 1.8% Hinduism and others.

when we talk about its government system, we can see that Australia has a federal parliamentary constitutional monarchy and its monarch name is Elizabeth ll. It has two legislative houses, the upper house, and the lower house. The upper house’s name is the senate and the lower house is called the house of representatives.

When we talk about its area, so its total area is around 7,692,100 km sq. its total population is 25,853,900, by the year 2021. Its population world rank is 53. Its currency is called the Australian dollar.

Australian GDP:

Australian total GDP is $1.60 trillion (nominal) and $1.40 trillion (PPP), by the year 2021. Its GDP rank is 12th (nominal) and 19th (PPP), in the year 2021. Its GDP growth rate is 6% in the year 2021. When we talk about its GDP per capita In addition, its GDP per capita is $62,700 (nominal) and $54,900 (PPP), in the year 2021.

Its GDP per capita rank is 9th (nominal) and 17th (PPP), in the year 2021. When we talk about its GDP by sector, so 63% services, manufacturing 6%, agriculture is 3% and others.

Australian Economy overview:

The inflation rate in Australia is 1.5% in the year 2020. When we talk about its poverty, however, its population 13% lives below the poverty line. When we talk about its Rate of human development index, therefore its human development index rate is 0.944 in the year 2019 which is considered the highest in the world.

In Australia, amount of total labor force is 14 million. Australia’s labour force by occupation rate is services:79%, construction: 9%, agriculture:2.5% and others. The unemployment rate in Australia is 4.5% in the year 2021.

Exports:

Australia’s total exports are $490 billion in the year 2019. Its main export goods are iron, coal, gold natural gas, copper, meat, etc. its main export partners are china, japan, south Korea, the United States, India, etc.

Imports:

In conclusion, Its total imports are $420 billion in the year 2019. Its main import goods are cars, telecom, gold, engineering equipment, furniture, and others. Its main import partners are China, the United States, Japan, the united kingdom, etc.

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