Australia Tenders

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Capital Canberra
ISO 3166 Code AU
Population 23,707,800
Area, Sq KM 9,596,691
Currency Australian dollar
Official Language English
GDP, Billion USD 15,60,372
GDP Growth Rate, % 2.8
Inflation, Avg CP, % Chng 2.0
Interest Rates, % N/A
Unemployement Rate, % 6.18
Exchange Rate, 1 USD Equals 1.29
International dial code 61
Time Zone GMT+10:00
Internet TLD .au

Australia, which is officially known as the Commonwealth of Australia is an island country in the Southern Hemisphere. With its capital in Canberra, Australia has a population of 23, 839,600. Australia had been a British colony since the 18th century. However, even before that, the island was inhabited by indigenous aborigines or natives of the country. The Australia Act of 1986 was the treaty which was signed as a mark of Australian independence. There are essentially two parties which form the government of the country, including the Labor Party and the Liberal and the National Party which for the coalition. After the Whitlam government was elected by a majority in 1972, Australia has become more pro-active in the field of foreign policy. Although the Australian continent consists of other adjoining islands such as Tasmania and New Zealand, the country of Australia has six states, including New South Wales, Victoria, Maryland, Western Australia, Queensland, and Tasmania. There are also several external territories. There are several areas in which Australia has established itself as an economic authority in the Southern Hemisphere. In fact, it is one of the wealthiest nations in the world. The main income of the country comes from banking, telecommunications, mining exports and even banking. In 2015, the total GDP was $1.137 trillion and the per capita GDP has been established at $52,454. Australia has the world’s twelfth most stable economy, with a good per capita GDP. Because of the increasing emphasis on things like export commodities, rather than on the goods that are manufactured in the industries, Australia has seen a considerable rise in its annual growth of up to 3.6%, whereas the OECD annual average is not more than 2.5%. Business sectors and even industrial sectors such as tourism, financial services, education sector, etc contribute for more than 70% of the national GDP. In addition to that, the economy of Australia is also sustained by the exported agricultural goods, the main components of which are wool and wheat. These, along with natural resources such as oil, natural gas, coal and even gold, play an important role in regulating the export industry, although they do not contribute to more than 5% of the GDP. In the past ten years, Australia has seen an inflation of 2%-3%, which is considered stable economic statistics. Australia is one of largest exporters of wine in the world, and because of the export of wine, an amount of $5.5 billion is added to the economy every year.

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