The Australian Economy : Australia

Summary…………………………………………………………………………………………………pg.2 Introduction/How, this business contributes positively to the Australian economy…...pg.3 Possible effects/impacts of current external factors…………………………………………………….pg.4 Recommendations/conclusion………………………………………………………………………………….pg.5   Executive Summary This report provides an analysis of the multinational company, BP (British Petroleum) and its contribution to the Australian economy through a number of sources. The report evaluates how the business is developing amid a number

Resilient Australian Economy Australia has been one of the few developed nations to remain largely unscathed by the global financial crises of 2008 – a crisis, which has left in its wake seemingly intractable problems of unemployment, large government debts, financial fragility and political unrest in Europe, Japan and North America (McAuley 2012). This would be further explored in the essay. Composition The Australian economy faces new challenges like the high exchange rate of Australian dollar

The Australian economy is playing a crucial role in terms of global economy. Based on the government’s analysis, Australia has been placed at the top 20 for the world’s largest economy. This caused a lot of economists to pay attention to Australia’s performance. Economists use macroeconomic objectives to analyse the national economy. This essay will focus on two macroeconomic objectives, how they are measured, and how they relate to each other. Furthermore, it will also discuss Australia’s performance

Introduction Australia is rich in scenic beauty and its tourism industry falls among the most vital industries in the Australian economy. From 2013-2014 it contributed about $43 billion to the country’s Gross Domestic Product. According to 2010-2011 reports 513,700 people were employed in tourism. With a 92% return on investment for government spending– it offers higher returns than Australia’s leading industries such as mining, meat and agriculture. Since the last 12 months, tourism has been made

Economic Background: In the past two decades, the Australian economy has been, and continues to be a very strong and steady economy because of steady GDP growth rates, with an average around 3.5% annually (Heritage.org). Australia has also benefitted from considerably low inflation and unemployment rates. Because of these macroeconomic values, Australia is ranked third in the ranking of regional economies (Heritage.org). The reasons for Australia’s ongoing success is mainly because of the boom in

AUSTRALIAN ECONOMY GROSS DOMESTIC PRODUCT As per Australian Bureau of Statistics, Gross domestic product of Australia is 1560.60 USD, with annual growth rate of 2.50 percent. Services sector dominates the total GDP of the economy (65 percent of total GDP). Though service sector is dominant yet major contribution to economy’s success in recent years came from mining sector (13.5 percent of GDP). Some other sectors which have contributed towards the success of Australian economy are manufacturing

Australia has always leaned heavily on China as a key trade partner China being the fastest growing nation creating the need for raw materials. A key investor Australia remaining as Chinas preferred investment Candidate. As well as a labour market offering cheap labour to Australian businesses, large commodities buyer and limited taxation and an average of 50% cheaper materials. Creating a heavy reliance on China showing that ultimately Australian businesses would not be able to survive leading to

have come to Australia as new immigrants and they had a marked influence on all aspects of society. In the 50 years Australia has welcomed about 5.9 millions of migrants comprising about 3.1 million males and 2.8 million females (Queensland Govt., n.d). More than 599 000 people have arrived under humanitarian programs, initially as displaced persons and more recently as refugees. Statistics from the Department of Immigration and Citizenship reported that during this same period in Australia, approximately

Delving into the economic heart of Australia for an understanding its economy. Australia is located in a region known as Oceania (a huge body of water) that houses the island called Australia. According to John Pearson, author of the 2015 report “Our World,” Australians Population estimates around 22,750 million people. Australian population spreads across this mass of land that spans 2.96 million square miles with almost half of the land climate is dry desert. Surprisingly with such dry climate

Australia is the sixth largest country, the largest island continent in the world, and full of an abundance of natural resources. Geographically Australia is about the same size as the lower 48 United States, however the population is less than the size of Los Angeles at 23.6 million. The majority of the population is therefore ‘grouped’ into the capital cities- Sydney in New South Wales, Melbourne in Victoria, Adelaide in South Australia, Brisbane in Queensland, Darwin in Northern Territory, and