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Australia's economy is strongly intertwined with the countries of East and Southeast Asia, also known as ASEAN Plus Three (APT), accounting for about 64% of exports in 2016. [46] China in particular is Australia's main export and import partner by a wide margin. [47] Australia is a member of the APEC, G20, OECD and WTO.
Zinc – Australia was third to China and Peru in zinc production in 2019, producing 1.3 million tonnes, 10% of world production. [42] Coal – Australia is the world's largest exporter of coal and fourth largest producer of coal behind China, USA and India. [43] Oil shale – Australia has the sixth largest defined oil shale resources. [44]
In 2011, Western Australia provided 46% of Australia's merchandising exports. [2] In 2018-19, Western Australia's gross state product was A$ 260.6 billion (17.5% of Australia's GDP ), [ 3 ] making it the nation's most productive state, and one of the most wealthy places on earth with a GDP per capita of A$135,479 (compared with the national ...
Australia is the world's largest producer of wool. [49] The Australian wool industry was worth $3.6 billion in 2022. [50] The total number of sheep is estimated to be 75 million. [49] In the late 1980s, the sheep flock was 180 million. [51] Only 5% of Australia's wool clip is processed onshore. [50]
Manufacturing in Australia peaked in the 1960s at 25% of the country's gross domestic product, and has since dropped below 10%. At one stage manufacturing employed almost a third of Australia's workforce. [1] Automotive manufacturing in Australia began in the 1920s and came to an end in 2017.
Australia said on Thursday that it would make pension contributions for workers who take paid parental leave, the latest effort by the centre-left Labor government to address gender imbalance in ...
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Australian government debt does not take into account government funds held in reserve within statutory authorities such as the Australian Government Future Fund, which at 30 September 2016 was valued at $122.8 billion, [5] and the Reserve Bank of Australia. Nor is the net income of these statutory authorities taken into account.