Another school assignment. This time, it's about the economy of Australia
mainguyenSticky NotePresenters:Pham Hong TrangLaura SileNguyen Hoang Mai
Goods and Services Household
Construction and Renovations Transport
AVERAGE HOUSEHOLD PROFILE: ECO -
mainguyenSticky NoteOne dimension of wellbeing is people's command over resources to obtain goods and services to satisfy their needs and wants.Expressed in real terms (at 200405 prices), household final consumption expenditure per capita rose from $10,400 in 196061 to $26,100 in 200506. The magnitude of this real increase (152%) suggests that Australia enjoy a much higher standard of material wellbeing than they did in the early 1960s.
AUSTRALIAS MAIN EXPORT INDUSTRIES
mainguyenSticky NoteExports in Australia increased to 25381 Million AUD in December of 2012.Metals like iron-ore and gold account for 28 percent of total exports, coal for 18 percent and oil and gas for 9 percent. Manufactured goods constitute 33 percent of the total exports with food and metal products and machinery and equipment accounting for the biggest share. Agricultural products, particularly wheat and wool make up 5 percent of trade outflows.
mainguyenSticky NoteAustralia's largest export markets are China (27 percent of total exports), Japan (17 percent), South Korea (7 percent), India (6 percent) and the European Union countries.
mainguyenSticky NoteAustralia is a major importer of machinery and transport equipment, computers and office machines and telecommunication lasers.
mainguyenSticky NoteImports in Australia decreased to 25808 Million AUD in December of 2012.Main import partners are China (15 percent of total imports), United States (13 percent of total imports), Japan (8 percent of total imports) and Singapore (7 percent of total imports).
mainguyenSticky NoteAustralias unemployment rate is around half that of the euro zone, and significantly less than the United States of America and United KingdomA decade ago, Australias most important trading partners were largely in the developed world, although much of our merchandise trade was already oriented towards Asia. Today, China, Japan, the Republic of Korea, India and our Association of Southeast Asian Nations neighbours absorb around three quarters of our merchandise exports and supply half our imports.Australia's strong banking system had a major role to play in this nation's economic prosperity. It has proved to be a major factor that has helped Australia to counter problems raised by current global economic and financial crisis. Financial sector has been doing quite well given factors like high profitability, efficient management, and strong capitalization working in its favor. Mining sector has played an important part in protecting Australia from effects of global economic crisis