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Australia's economy is strongly intertwined with the countries of East and Southeast Asia, also known as ASEAN Plus Three (APT), accounting for about 64% of exports in 2016. [46] China in particular is Australia's main export and import partner by a wide margin. [47] Australia is a member of the APEC, G20, OECD and WTO.
Sydney received 8.2 million visitors in 2016, an 11.4 per cent increase from 2015. The main sources of Sydney's tourists were from north-east and south-east Asia. [3] The Vivid Sydney festival, held annually each winter, attracted 1.7 million visitors in 2015–it is the biggest festival in Australia and one of the biggest of its kind in the world. [4]
The economy of New South Wales is the largest of any state in Australia, accounting for 30.6% of Australia's GDP and valuing at A$660.6 billion in 2021-22. [1] The economy consists primarily of the services, mining and agricultural sectors, each of which represents a significant proportion of the overall Australian economy.
The state of Victoria is the second-largest economy in Australia after New South Wales, accounting for 23.24% of the nation's gross domestic product, valued at A$515.2 billion in 2022. [5] The economy is primarily built upon financial services, agriculture, healthcare and social assistance, tourism and construction.
The British Empire in Australia: An Economic History 1834–1939, Melbourne University Press, Melbourne. Greasley, David, and Les Oxley. "A tale of two dominions: comparing the macroeconomic records of Australia and Canada since 1870." Economic History Review 51.2 (1998): 294–318. online; Gregory, R.G., and N. G. Butlin.
Image credits: astarisaslave #8. TIL in South Korea, only blind people can get a masseur's license. This law was established in 1912, to help visually impaired people earn a living.
Australia's exclusive economic zone (EEZ) was declared on 1 August 1994 and extends from 12 to 200 nautical miles (22 to 370 km) from the coastline of Australia and its external territories, except where a maritime delimitation agreement exists with another state. [1] [2] To the 12 nautical-mile boundary is Australia's territorial waters.
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