What Do You Know About The Economy Of Australia?

Canberra is the capital city of Australia.  Due to internal demand of the country the country has stable economic growth since last few years. There is continuous growth in the Gross Domestic Product as compared to previous years.  There is very minor ratio of unemployment in the country public debt has also decreased since the last twenty years. However the Australian economy is facing two problems one is the working population is getting short due to the increase in the ratio of old age people and secondly the rise in the currency of the Australia which is making its competitiveness weak in the Asia.

Australia is the one of the agriculture country the main emphasis is on the agriculture sector. The main exports are meat, wool, cotton and wheat in the world. Food processing is the largest industry of this country. This industry employs 20 percent of the active population. The country is also rich in natural resources like carbon, nickel, gold, iron, lead, iron and materials. These resources are exported to other countries as well. Due to this industry the country is at the strongest position as compared to other countries.  The country only imports some of the raw materials from other counties and export finished good to these countries.