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Economy in Australia


Economy in Australia

Australia has a prosperous Western-style capitalist economy, with a per capita GDP on par with the four dominant West European economies. The service industries, including tourism, education, and financial services, account for the majority of the Australian Gross Domestic Product – about 69%. Within the service sector, tourism is one of the most important industries in Australia, as it provides employment, contributes $73 billion to the economy each year and accounts for at least 11% of total exports. Primary industry - mining and agriculture - accounts for most of Australia's exports. Iron Ore and Coal are by far the largest exports, with wheat, beef and wool declining in importance. Australia has a comprehensive social security system, and a minimum wage higher than the United States or the United Kingdom. Tradesmen are extremely well-paid in Australia, often more so than professionals.

The Most Frequently Asked Travel Questions about Australia


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Australia Travel Guide from Wikitravel. Many thanks to all Wikitravel contributors. Text is available under Creative Commons Attribution-ShareAlike 3.0, images are available under various licenses, see each image for details.

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