Development of Australia's economy

The study of economies and what drives the economy is different throughout the world. While near(a) to strong economies will have a lot of the same(p) factors in what makes their economy a success, there are more or less factors such as climate and regional harvest-home that toilette change this. In this paper, we will discuss the development of Australias economy and what key factors drive this country. We will esteem what historical impacts have played a key fictitious character in the development of Australias economy as hygienic as the depressions of physical distance on Australias concern and the role that technology plays on commerce. Australias economy is considered to be one of the strongest in the world. Although Australia is similar in size to the combine States, only ten million people are currently in the labor force. After the recession that was experienced in the 1980s, Australia has had over sixteen years of uninterrupted growth. From 1998- 2005, Australias has had an annual growth rate of 3.6 percent. While, Australias economy is dominated by its service arena, agricultural and mining welkins account for over 65 percent of Australias exports. The major agricultural industries found in Australia are: cattle, cotton, fisheries, dairy, food, forestry, horticultural, grain, wool, wine, and sugar.

(http://www.123independenceday.com/australia/economy.html). Tourism is also a key portion that drives Australias economy. Overall, Australias economy relies heavily on Construction, Retail, and Tourism. The manufacturing sector of Australia has dri ven the economy and outperformed other secto! rs that drive its economy. While structural changes in the Australian economy combined with increased globalization and international development have had a deep resultant on the size and structure of the sector, manufacturing continues as a profound contributor to GDP, a provider of employment and a seed of export revenue for Australia....If you want to get a deep essay, order it on our website: OrderCustomPaper.com

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