Economy

Australia is internationally recognised as a leading economy with sound fundamentals and consistently strong performance. Its robust and expanding economy creates a secure backdrop for direct investment and business that is unrivalled among developed nations.

The Australian economy is very healthy and economic conditions remain favourable. Australia's economic growth rates (average annual real GDP growth of 3.3 per cent since 1990) have exceeded those of most other OECD countries including the United States, Canada, the United Kingdom, Japan and Germany.

With an average unemployment rate of 4.3% in 2008, average inflation (CPI) of 4.3% in 2008 and low interest rates compared with other developed countries, the key economic indicators remain strong, underlining Australia’s huge economic performance.

Australia’s abundance of natural resources is therefore an important part of its economic mix. Since the late 1980’s resource extraction has contributed more than five per cent of the GDP annually. Over the past three decades, annual mineral and energy exports have averaged more than 35 per cent of Australia’s total receipts.

The country’s political, social and regulatory environment is stable, open and progressive, providing investors - not only in the mining sector - with a safe and secure business framework.