aracterizing the OECD countries in the
early 1990s. In 1992-93 the economy recovered slowly from the
prolonged recession of 1990-91, a major restraining factor being weak
world demand for Australia's exports. Unemployment has hovered around
10% and probably will remain at that level in 1994 as productivity
gains rather than more jobs account for growth.
National product:
GDP - purchasing power equivalent - $339.7 billion (1993)
National product real growth rate:
4% (1993)
National product per capita:
$19,100 (1993)
Inflation rate (consumer prices):
1.1% (1993)
Unemployment rate:
10% (December 1993)
Budget:
revenues:
$71.9 billion
expenditures:
$83.1 billion, including capital expenditures of $NA (FY93)
Exports:
$44.1 billion (1992)
commodities:
coal, gold, meat, wool, alumina, wheat, machinery and transport
equipment
partners:
Japan 25%, US 11%, South Korea 6%, NZ 5.7%, UK, Taiwan, Singapore,
Hong Kong (1992)
Imports:
$43.6 billion (1992)
commodities:
machinery and transport equipment, computers and office machines,
crude oil and petroleum products
partners:
US 23%, Japan 18%, UK 6%, Germany 5.7%, NZ 4% (1992)
External debt:
$141.1 billion (1993)
Industrial production:
growth rate 1.9% (FY93); accounts for 32% of GDP
Electricity:
capacity:
40,000,000 kW
production:
150 billion kWh
consumption per capita:
8,475 kWh (1992)
Industries:
mining, industrial and transportation equipment, food processing,
chemicals, steel
Agriculture:
accounts for 5% of GDP and over 30% of export revenues; world's
largest exporter of beef and wool, second-largest for mutton, and
among top wheat exporters; major crops - wheat, barley, sugarcane,
fruit; livestock - cattle, sheep, poultry
Illicit drugs:
Tasmania is one of the world's major suppliers of licit opiate
products; government maintains strict controls over areas of opium
poppy cultivation and output of poppy straw concentrate
Economic aid:
donor:
ODA and OOF commitments (1970-89), $10.4 billion
Currency:
1 Australian dollar ($A) = 100 cents
Exchange rates:
Australian dollars ($A) per US$1 - 1.4364 (January 1994), 1.4704
(1993), 1.3600 (1992), 1.2835 (1991), 1.2799 (1990), 1.2618 (1989)
Fiscal year:
1 July - 30 June

@Australia, Communications

Railroads:
40,478 km total; 7,970 km 1.600-meter gauge, 16,201 km 1.435-meter
standard gauge, 16,307 km 1.067-meter gauge; 183