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As I have heard that we are under the economy crisis effect and that would affect each country I would like to know what measurements have been taken to surpass these crisis?
Tags: Australian, Economic, Economy, structure
Report (0) (0) | 12 years, 9 month(s) ago
Australian economy is considered to be one of the strongest economies in the world. Often, Australian economy is qualified as competitive, free-spoken, dynamic and flexible. The continuing strength of Australia's economy is a issue of its ongoing reform agenda. Australian economy is a western style market economy with an average every year GDP growth rate of 3.6% during the years from 1998 to 2005, well frontwards of the growth rate of other created economies. The economy's productivity performance has contributed meaningfully to Australia's talent in safeguarding high growth with low inflation. Australia's productivity since 1990 has been alarming at an average rate of through 2.3 per 100 annually which has been registered as one of the fastest growing productivity rates in the OECD. Over the past decade, inflation has typically been 2–3% and the foundation spare-time activity rate 5–6%. The service sector of the economy, surrounding tourism, education, and economic services, account assertions for come seal 70% of GDP. Although agriculture and natural resources account assertion for simply 3% and 5% of GDP respectively, they contributesignificantly to export performance. Australia's utmost export markets are Japan, China, the US, South Korea, and New Zealand. Australia is the world's fourth utmost exporter of wine, in an industry contributing $5.5 billion per annum to the nation's economy.
Latest activity: 13 years ago. This question has 3 answers.