ace, Yarralumla, Canberra,
Australian Capital Territory 2600 mailing address: consulate(s) general:
Melbourne, Perth, Sydney

Flag description: blue with the flag of the UK in the upper hoist-side
quadrant and a large seven-pointed star in the lower hoist-side quadrant;
the remaining half is a representation of the Southern Cross constellation
in white with one small five-pointed star and four, larger, seven-pointed
stars

Economy Australia

Economy - overview: Australia has a prosperous Western-style capitalist
economy, with a per capita GDP on par with the four dominant West European
economies. The Australian economy has been resilient in the face of
the global economic downturn in 2001 chalking up 2.3% GDP growth, as
the domestic economy is offsetting the external slump and business and
consumer confidence remains robust. Canberra's emphasis on reforms is
a key factor behind the economy's strength, and Australia is expected
to outperform its trading partners in 2002, with GDP growth projected
to be 3% or better. Australia probably will experience some weakness in
mid-2002 as its business cycle tends to lag the US by about six months,
and larger problems could emerge if Australia's trade position worsens.

GDP: purchasing power parity - $465.9 billion (2001 est.)

GDP - real growth rate: 2.3% (2001 est.)

GDP - per capita: purchasing power parity - $24,000 (2001 est.)

GDP - composition by sector: agriculture: 3% industry: 25% services: 72%
(2000 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: 2%
highest 10%: 25.4% (1994)

Distribution of family income - Gini index: 35.2 (1994)

Inflation rate (consumer prices): 4.3% (2001 est.)

Labor force: 9.2 million (December 2001)

Labor force - by occupation: services 73%, industry 22%, agriculture 5%
(1997 est.)

Unemployment rate: 6.7% (2001)

Budget: revenues: $86.8 billion expenditures: $84.1 billion, including
capital expenditures of $NA (FY00/01 est.)

Industries: mining, industrial and transportation equipment, food
processing, chemicals, steel

Industrial production growth rate: 0.4% (2001 est.)

Electricity - production: 202.676 billion kWh (2000)

Electricity - production by source: fossil fuel: 89.79% hydro: 8.47%
other: 1.74% (2000) nuclear: 0%

Electricity - consumption: 188.489 billion kWh (2000)

Electricity - exports: 0 kWh (2000)

Electricity - imports: