Country Report

Topics: Australia, Economy of Australia, Australian dollar Pages: 7 (2059 words) Published: January 16, 2013
Australia Country Report
Many companies are planning to invest in Australia. The following is the country about Australia. Australian government is trying to devote themselves to a long term investment country. Australia has its special advantages on history, geography, culture, economic and environment. Introduction

Australia, officially the Commonwealth of Australia, is a country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. Australia lies in a hot continent and the hottest part of the planet are the tropical latitude. 39% of Australia lies in the tropic. It is the world's sixth-largest country by total area. The capital of Australia is Canberra. It has 7741000km^2 area. Largest city is Sydney. Australia is politically divided in to six states and two territories. Language is English. Australia’s population is 18 million. Aboriginal and Torres Strait Island people take about 1.5% of Australia’s population. A highly developed country, Australia is the world's 12th-largest economy and has the world's sixth-highest per capita income. Australia's military expenditure is the world's 13th-largest. With the second-highest human development index globally, Australia ranks highly in many international comparisons of national performance, such as quality of life, health, education, economic freedom, and the protection of civil liberties and political rights Australia is a member of the G20, OECD, WTO, APEC, UN, Commonwealth of Nations, ANZUS, and the Pacific Islands Forum. Economic Structure and Performance

1. Manufacture industry of Australia. It has some features as the following. First feature is concentration. Australian industry is highly concentrated, with 14 large national monopolies. Second feature is foreign investment. Australia manufacture relies heavily on foreign investment. Today Australia has a broad industrial base. It is able to produce manufactured goods ranging from fashion garments to food, complex electronic devices to household appliances, base metals to precision instruments. Australian manufacturing industry accounts for about 15 % of the gross domestic product and more than a quarter of Australia's total exports. It is the nation's third largest employer, supplying jobs in 1991 for 963, 900 people or 18 % of the workforce accounting for 96 % of all firms, half of private-sector employment and a third of all employment in Australia. It is estimated that 86 % of all manufacturing firms are small businesses. In a world context Australian manufacturing is unique.( Country Monitor) But there is limitation. Australia is limited on local market. Its high level of tariff protection which is really high early 80s and geographical isolation are the factors that affect the efficiency of Australian manufacturing. While, significant economic reforms happened in the 1980s and 1990s have led to marked reductions in all kinds of trade barriers and other types of industry protection and assistance. (Country Monitor)Due to this, efficiency has improved in most industries. Old plants have been closed. Labor productivity has been raised. Many factories have upgraded and their technology so as to be internationally competitive. 2. The Minerals and Energy Industry

Australia’s natural resources are very rich. It is one of the world's biggest producers of minerals and metals. The energy industry and the minerals are central to the Australian economy. However, the development of Australia's mineral industry was heavily dependent on the overseas market. 3. Privatization in Australia. Australia was among the most active privatizing countries in the world during the 1990’s. Some $85 billion of government owned assets were sold. In terms of industry sectors, State electricity and gas asset sales have comprised nearly 40%, while the float of half of Telstra has comprised one third of raisings. Other major sectors have been banks and other finance sector...
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