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The International Monetary Fund in April 2012 predicted that Australia would be the best-performing major advanced economy in the world over the next two years; the Australian Government Department of the Treasury anticipated "forecast growth of 3.0% in 2012 and 3.5% in 2013", [60] the National Australia Bank in April 2012 cut its growth ...
However, excessive current account deficit, combined with low investor confidence and the possibility of a currency crisis, may force the central bank to implement contractionary macroeconomic policies to restrict economic growth. When economic growth or activity is being restricted, low investment and low levels of expenditure will generally ...
This is the most recent list of Australian states and territories by gross state product (GSP) and GSP per capita. Also included are the GSP and population growth tables as well as a comparison table showing the surplus/deficit between state final demand (SFD) and GSP for the same financial year.
This is a list of the largest two-way trading partners of Australia, based on data released by the Australian Department of Foreign Affairs and Trade for the 2022 calendar year. [ 1 ] The largest trading partners
Coal is mined in every state of Australia. It provides about 85% of Australia's electricity production and is Australia's largest export commodity. [22] 75% of the coal mined in Australia is exported, mostly to eastern Asia. In 2005, Australia was the largest coal exporter in the world with 231 million tonnes of hard coal. [23]
A weekly update on the impact of the COVID-19 pandemic on the world economy, and on major individual economies such as the US, China, Japan, other Asian economies, Europe, Australia and New Zealand has been produced by Saul Eslake, one of Australia's best-known economists, since late April 2020. [258]
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.
Australian government debt does not take into account government funds held in reserve within statutory authorities such as the Australian Government Future Fund, which at 30 September 2016 was valued at $122.8 billion, [5] and the Reserve Bank of Australia. Nor is the net income of these statutory authorities taken into account.