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Average Salary - Australia AUSTRALIA / SALARY


SALARY SURVEYS

3,534

UPDATED
May 2022
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AVERAGE SALARY / YEAR MOST TYPICAL SALARY / YEAR
Gross income
Net (after tax)

1.34 AUD = 1 USD

117,687 AUD

$87,619 USD
Sydney

124,702 AUD

69,844 AUD

$52,000 USD
Including "Sydney"
Excluding "Sydney"

Average Salary / Australia

Average salary in Australia is 117,687 AUD per year. The most typical earning is 69,844 AUD. All data are based on 3,534 salary surveys. Salaries are different between men and women. Men receive an average salary of 125,317 AUD. Women receive a salary of 100,200 AUD.

The most paid careers are Engineers & Technicians V with average income 164,404 AUD and Management & Business with income 158,091 AUD.

Based on education, the highest salaries receive people with Doctorate Degree with salary of 150,703 AUD. The second most paid education level is Masters Degree with salary of 136,063 AUD.

Different experiences affect earning as well. People with 20+ Years of experience receive salary of 159,434 AUD. Employees with 16-20 Years of experience receive 150,972 AUD.

Levels / Australia (Gross AUD)

Salary Levels (AUD) per Year Surveys [%]
13,400 AUD - 20,099 AUD
0 n/a
20,100 AUD - 26,899 AUD
15 100%
0.42%
26,900 AUD - 33,599 AUD
35 99.58%
0.99%
33,600 AUD - 40,299 AUD
50 98.59%
1.41%
40,300 AUD - 46,999 AUD
74 97.17%
2.09%
47,000 AUD - 53,699 AUD
144 95.08%
4.07%
53,700 AUD - 60,399 AUD
185 91%
5.23%
60,400 AUD - 67,199 AUD
192 85.77%
5.43%
THE MOST TYPICAL SALARY
67,200 AUD - 73,899 AUD
268 80.33%
7.58%
73,900 AUD - 80,599 AUD
176 72.75%
4.98%
80,600 AUD - 87,299 AUD
252 67.77%
7.13%
87,300 AUD - 93,999 AUD
170 60.64%
4.81%
94,000 AUD - 100,699 AUD
187 55.83%
5.29%
100,700 AUD - 107,499 AUD
200 50.54%
5.66%
107,500 AUD - 114,199 AUD
151 44.88%
4.27%
114,200 AUD - 120,899 AUD
157 40.61%
4.44%
120,900 AUD - 127,599 AUD
136 36.16%
3.85%
127,600 AUD - 134,299 AUD
93 32.31%
2.63%
134,300 AUD - 140,999 AUD
120 29.68%
3.4%
141,000 AUD - 147,699 AUD
118 26.29%
3.34%
147,700 AUD - 154,499 AUD
75 22.95%
2.12%
154,500 AUD - 161,199 AUD
71 20.83%
2.01%
161,200 AUD - 167,899 AUD
87 18.82%
2.46%
167,900 AUD - 174,599 AUD
56 16.36%
1.58%
174,600 AUD - 181,299 AUD
43 14.77%
1.22%
181,300 AUD - 187,999 AUD
24 13.55%
0.68%
188,000 AUD - 194,799 AUD
61 12.87%
1.73%
194,800 AUD - 201,499 AUD
25 11.15%
0.71%
HIGH SALARIES
201,500 AUD - 214,899 AUD
75 10.44%
2.12%
214,900 AUD - 228,299 AUD
50 8.32%
1.41%
228,300 AUD - 241,799 AUD
44 6.9%
1.25%
241,800 AUD - 255,199 AUD
23 5.66%
0.65%
255,200 AUD - 268,599 AUD
34 5.01%
0.96%
268,600 AUD - 282,099 AUD
21 4.05%
0.59%
282,100 AUD - 295,499 AUD
16 3.45%
0.45%
295,500 AUD - 308,899 AUD
23 3%
0.65%
308,900 AUD - 322,399 AUD
19 2.35%
0.54%
322,400 AUD - 335,799 AUD
7 1.81%
0.2%
335,800 AUD - 470,099 AUD
57 1.61%
1.61%

Gender / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Men 2,021 125,317 AUD
2 Women 800 100,200 AUD

Education / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Doctorate Degree 147 150,703 AUD
2 Masters Degree 819 136,063 AUD
3 Bachelors Degree 1,661 116,049 AUD
4 Some College 504 105,035 AUD
5 High School 356 91,201 AUD
6 Bellow H. School 47 89,186 AUD

Experience / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 20+ Years 577 159,434 AUD
2 16-20 Years 310 150,972 AUD
3 12-16 Years 370 140,764 AUD
4 8-12 Years 606 119,810 AUD
5 4-8 Years 648 106,916 AUD
6 2-4 Years 446 88,111 AUD
7 1-2 Years 270 76,292 AUD
8 0-1 Year 307 75,754 AUD

Age / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 71-75 2 187,372 AUD
2 51-55 164 158,225 AUD
3 46-50 272 151,643 AUD
4 61-65 37 144,256 AUD
5 41-45 307 143,450 AUD
6 66-70 16 141,570 AUD
7 56-60 96 141,301 AUD
8 36-40 426 128,272 AUD
9 31-35 519 117,393 AUD
10 n/a 718 115,646 AUD
11 26-30 562 96,036 AUD
12 21-25 328 75,351 AUD
13 14-20 84 66,889 AUD
14 76-99 3 48,757 AUD

Work Type / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Self Employed 156 129,884 AUD
2 Permanent 2,859 120,616 AUD
3 Contract 324 115,109 AUD
4 Part Time 195 69,710 AUD

Cities / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Perth 419 129,615 AUD
2 Sydney 1,043 124,646 AUD
3 Darwin 47 122,765 AUD
4 Brisbane 468 116,721 AUD
5 Canberra 115 116,452 AUD
6 Melbourne 834 114,303 AUD
7 Geelong 20 110,005 AUD
8 Wollongong 19 109,199 AUD
9 Albury 19 107,587 AUD
10 Hobart 29 106,110 AUD
11 --Other-- 56 105,035 AUD
12 Adelaide 231 104,632 AUD
13 Newcastle 53 103,424 AUD
14 Townsville 28 101,275 AUD
15 Toowoomba 13 99,528 AUD
16 Gold Coast 60 98,051 AUD
17 Cairns 22 97,245 AUD
18 Sunshine Coast 44 96,170 AUD
19 Launceston 14 79,784 AUD

Career Groups / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Engineers & Technicians V 48 164,404 AUD
2 Management & Business 406 158,091 AUD
3 Engineers & Technicians III 28 157,688 AUD
4 Engineers & Technicians IV 46 141,301 AUD
5 Engineers & Technicians II 14 136,869 AUD
6 Insurance 44 133,645 AUD
7 Engineers & Technicians 228 130,690 AUD
8 Finance & Banking 170 127,466 AUD
9 Aviation & Shipping 32 126,123 AUD
10 Geography & Geodesy 8 125,183 AUD
11 IT & Programming 337 125,049 AUD
12 IT & Programming II 194 123,840 AUD
13 Human Resources 136 122,631 AUD
14 Law 60 121,422 AUD
15 Construction & Labor Workers 127 121,153 AUD
16 Health Care & Medical 100 120,348 AUD
17 Health Care & Medical II 83 120,348 AUD
18 Properties & Real Estates 42 116,855 AUD
19 Military 16 116,452 AUD
20 Logistics, Road, Railway 40 111,886 AUD
21 Marketing, Sales, Purchase 165 106,110 AUD
22 Education & University 176 105,304 AUD
23 Media 53 103,424 AUD
24 Organization & Coordination 41 102,886 AUD
25 Public Sector 75 101,409 AUD
26 Accounting & Administration 305 99,260 AUD
27 Architect Constructions 43 99,125 AUD
28 Salesmen & Saleswomen 72 93,753 AUD
29 Arts, Culture, Performance 17 90,126 AUD
30 Customer Services 86 88,380 AUD
31 Security & Fireguard 19 87,709 AUD
32 Agriculture & Fishing 21 87,171 AUD
33 Sports & Recreation 14 82,336 AUD
34 Automobile 28 80,858 AUD
35 Manufacturing & Labor Workers 60 80,590 AUD
36 Hotels & Tourism 41 79,112 AUD
37 Making Design 56 76,963 AUD
38 Fashion 19 71,859 AUD
39 Archaeology & History 2 67,830 AUD
40 Restaurants, Inns, Pubs 82 63,531 AUD

Careers / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 CEO 21 241,099 AUD
2 Director 50 210,609 AUD
3 General Manager 65 202,952 AUD
4 Engineering Manager 28 190,058 AUD
5 Construction Manager 17 179,044 AUD
6 University Professor 22 171,791 AUD
7 Other Engineer Career 46 165,478 AUD
8 Finance Manager 24 160,508 AUD
9 Human Resources Manager 61 159,971 AUD
10 IT Manager 58 156,344 AUD
11 IT Project Manager 59 156,210 AUD
12 Construction Project Manager 25 145,330 AUD
13 Manager 64 141,167 AUD
14 Business Development Manager 18 139,689 AUD
15 Lead Developer 19 133,914 AUD
16 Operations Manager 29 132,167 AUD
17 Civil Engineer 34 131,496 AUD
18 Lawyer 32 128,810 AUD
19 Chartered Accountant 34 128,272 AUD
20 Project Manager 44 127,601 AUD
21 Sales Manager 18 127,063 AUD
22 Electrical Engineer 28 126,660 AUD
23 Other Management Career 24 119,945 AUD
24 Software Engineer 28 117,930 AUD
25 Audit Manager 26 117,930 AUD
26 System Analyst 19 116,990 AUD
27 CPA - Certified Public Accountant 25 116,855 AUD
28 Engineer 61 115,512 AUD
29 Marketing Manager 31 115,243 AUD
30 Lecturer 30 112,154 AUD
31 Senior Accountant 16 112,154 AUD
32 Mechanical Engineer 33 111,080 AUD
33 Other Finance Career 20 109,199 AUD
34 Other IT Career 22 109,065 AUD
35 Financial Analyst 35 108,662 AUD
36 Other Medical Career 32 107,587 AUD
37 Other Human Resource Career 25 107,050 AUD
38 Tax Accountant 15 106,379 AUD
39 Customer Service Manager 27 105,707 AUD
40 Other Public Sector Career 43 105,573 AUD
41 Software Developer 66 105,170 AUD
42 Registered Nurse 19 101,006 AUD
43 Account Manager 19 99,394 AUD
44 Other Sales Career 17 97,648 AUD
45 Architect 26 97,245 AUD
46 System Administrator 18 92,410 AUD
47 IT Coordinator 20 91,604 AUD
48 Accountant 49 91,201 AUD
49 Salesmen or Saleswomen 24 90,261 AUD
50 Human Resource 21 88,514 AUD
51 Public Administration 18 86,097 AUD
52 Hotel Manager 18 84,082 AUD
53 Other Education Career 18 83,142 AUD
54 Human Resource Coordinator 16 81,127 AUD
55 Teacher 31 80,455 AUD
56 Cook 28 68,098 AUD
57 Restaurant Manager 16 66,218 AUD
58 Graphic Designer 16 65,681 AUD

People's individual salary examples (surveys)

Automation Engineer
Posted 27 May 2022
City Education Experience Knowledge Gross salary / year
Brisbane Masters Degree 1-2 Years Intermediate 80,000 AUD

Data Engineering Manager
Posted 27 May 2022
City Education Experience Knowledge Gross salary / year
Newcastle Bachelors Degree 16-20 Years Expert 145,000 AUD

Variant Configuration Specialist
Posted 26 May 2022
City Education Experience Knowledge Gross salary / year
Gold Coast Some College 2-4 Years Intermediate 150,000 AUD

Tax Accountant
Posted 26 May 2022
City Education Experience Knowledge Gross salary / year
Sunshine Coast Masters Degree 8-12 Years Advanced 176,700 AUD

Pastry Cook/baker
Posted 26 May 2022
City Education Experience Knowledge Gross salary / year
Melbourne Some College 1-2 Years Intermediate 81,000 AUD

Manager
Posted 16 April 2022
City Education Experience Knowledge Gross salary / year
Brisbane Bachelors Degree 12-16 Years Intermediate 120,000 AUD

Software Engineer
Posted 16 April 2022
City Education Experience Knowledge Gross salary / year
Sunshine Coast Bachelors Degree 0-1 Year Advanced 85,000 AUD

Engineer
Posted 16 April 2022
City Education Experience Knowledge Gross salary / year
Cairns Bachelors Degree 16-20 Years Advanced 122,000 AUD

Programmer
Posted 16 April 2022
City Education Experience Knowledge Gross salary / year
Sydney High School 8-12 Years Advanced 350,000 AUD

Senior Transport Engineer
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 4-8 Years Expert 160,000 AUD

Contracts
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 1-2 Years Intermediate 70,000 AUD

Mechanic
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Darwin Bellow H. School 4-8 Years Intermediate 36,300 AUD

Gm Hr
Posted 13 April 2022
City Education Experience Knowledge Gross salary / year
Brisbane Masters Degree 8-12 Years Advanced 150,000 AUD

Chief Executive Officer
Posted 13 April 2022
City Education Experience Knowledge Gross salary / year
Melbourne Doctorate Degree 16-20 Years Expert 237,700 AUD

Senior Manager Finance Business Partner
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 16-20 Years Expert 175,200 AUD

Manager
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Newcastle Some College 16-20 Years Advanced 194,600 AUD

Management Consultant
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 2-4 Years Advanced 146,000 AUD

Paramedic
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Geelong Bachelors Degree 1-2 Years Intermediate 107,000 AUD

Analyst
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 4-8 Years Intermediate 116,800 AUD

Head Of Department
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Canberra Masters Degree 2-4 Years Advanced 127,500 AUD

It Manager
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 12-16 Years Advanced 184,900 AUD

Property Manager
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Melbourne High School 8-12 Years Advanced 141,000 AUD

Group Accountant
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Adelaide Masters Degree 8-12 Years Advanced 116,800 AUD

Project Manager
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Melbourne Masters Degree 4-8 Years Advanced 126,500 AUD

Product Specialist
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 4-8 Years Advanced 107,000 AUD

Manager
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Sydney Bellow H. School 0-1 Year Basic 61,300 AUD

Engineer
Posted 05 April 2022
City Education Experience Knowledge Gross salary / year
Adelaide High School 0-1 Year Basic 389,300 AUD

Automation
Posted 05 April 2022
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 2-4 Years Intermediate 133,300 AUD

Associate Cons
Posted 27 March 2022
City Education Experience Knowledge Gross salary / year
Sydney Masters Degree 8-12 Years Advanced 63,300 AUD

Financial Analyst
Posted 27 March 2022
City Education Experience Knowledge Gross salary / year
Melbourne Some College 1-2 Years Intermediate 84,400 AUD

Workforce Planner
Posted 25 March 2022
City Education Experience Knowledge Gross salary / year
Adelaide Bachelors Degree 2-4 Years Advanced 107,000 AUD

Nutrition And Sport Science Consultant
Posted 22 March 2022
City Education Experience Knowledge Gross salary / year
Melbourne Masters Degree 4-8 Years Expert 77,900 AUD

R&d Manager
Posted 22 March 2022
City Education Experience Knowledge Gross salary / year
Cairns Masters Degree 16-20 Years Advanced 107,000 AUD

Executive Assistant
Posted 21 March 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 1-2 Years Basic 61,300 AUD

Contract Administrator
Posted 21 March 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 2-4 Years Advanced 132,700 AUD

Consultant
Posted 20 March 2022
City Education Experience Knowledge Gross salary / year
Brisbane Masters Degree 1-2 Years Intermediate 97,300 AUD

Engineer
Posted 20 March 2022
City Education Experience Knowledge Gross salary / year
Sydney Masters Degree 1-2 Years Advanced 53,500 AUD

Head Of Fashion
Posted 19 March 2022
City Education Experience Knowledge Gross salary / year
Sunshine Coast High School 2-4 Years Intermediate 58,400 AUD

General Managers
Posted 19 March 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 2-4 Years Intermediate 63,300 AUD

Mortgage Broker
Posted 18 March 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 4-8 Years Expert 155,700 AUD

Sales Manager
Posted 17 March 2022
City Education Experience Knowledge Gross salary / year
Sydney High School 1-2 Years Intermediate 48,700 AUD

Safety
Posted 17 March 2022
City Education Experience Knowledge Gross salary / year
Brisbane Bachelors Degree 1-2 Years Intermediate 68,100 AUD

Software Developer
Posted 17 March 2022
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 2-4 Years Advanced 53,700 AUD

Techniucian
Posted 12 March 2022
City Education Experience Knowledge Gross salary / year
Sunshine Coast Bachelors Degree 1-2 Years Intermediate 73,000 AUD

Software Development
Posted 12 March 2022
City Education Experience Knowledge Gross salary / year
Brisbane Bachelors Degree 8-12 Years Advanced 130,100 AUD

Systems Engineer
Posted 11 March 2022
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 12-16 Years Expert 87,600 AUD

Prperty Analyst
Posted 11 March 2022
City Education Experience Knowledge Gross salary / year
Gold Coast Bachelors Degree 1-2 Years Intermediate 58,400 AUD

Account Manager
Posted 10 March 2022
City Education Experience Knowledge Gross salary / year
Sydney Masters Degree 1-2 Years Intermediate 82,700 AUD

Electrical Engineer
Posted 08 March 2022
City Education Experience Knowledge Gross salary / year
Newcastle Bachelors Degree 1-2 Years Intermediate 95,200 AUD

Call Center Operator
Posted 08 March 2022
City Education Experience Knowledge Gross salary / year
Perth High School 0-1 Year Basic 58,400 AUD

ECONOMY / Australia

Introduction

Australia is an island country found in the southern hemisphere. The country is surrounded by the Indian Ocean and the Pacific Ocean. It’s the smallest country among the seven continents and the largest country without land borders. The currency used for transactions is the Australian dollar.

The country uses a highly advanced and high-income approach economy.  Australia's economy is vast hence being ranked as number twelve globally in terms of nominal GDP. The guide will clearly show you some of the economic sectors contributing to the enormous growth and the country's GDP.

 

GDP

The world economic database estimates for the year 2021 GDP $ 1.61 trillion for nominal GDP and the GDP in terms of purchasing power parity is $ 1.41 trillion. Australia has the 12th largest economy in terms of nominal GDP and the 19th largest globally for GDP in terms of PPP.

The nominal GDP per capita estimate for 2021 is $ 62,728, while that for GDP per capita in terms of PPP is $54,891. Australia is ranked as number nine globally for nominal GDP per capita and seventeen for GDP per capita for purchasing power parity.

The growth of domestic products based on various economic sectors in the year 2017 was as follows.

·       62.7 percent for services.

·       7.4 percent for construction.

·       5.8 percent for mining.

·       5.8 percent for manufacturing.

·       2.8 percent for agriculture.

The GDP growth of Australia has been decreasing over the years. The world economic outlook shows that in the year 2018, Australia's GDP was 2.7 percent and 1.8 percent for the year 2019. There was a massive drop in the year 2020. The GDP estimate was – 6.7 percent.  The main reason attributing to the enormous decline is the Covid 19 pandemic. However, in the year 2021, the GDP has begun to rise by April 2021, the GDP growth was 6.1 percent.

 

Economic sector

The service and industry sector plays a huge role in Australia's economy.

1.     Services

Some of the leading industries in the service sector include

·       Information technology

This sector comprises IT-related jobs such as system and website designs. Most IT-related jobs are found in the state's capital cities.

·       Tourism

Domestic tourism contributes to about 73 percent of Australian tourism. Tourism has been an enormous contributor to the economy. The total employed workforce for the year 2017 was around 646,000 people. The sector has increased the country's GDP and Australia's earnings.

·       Education

Education is compulsory in Australia for the young and also the adults. Australia also has international programs thus, incorporating international students. The education sector has resulted in the employment of the workforce, therefore, boosting the country's economy.

2.     Industry sector

The primary industries in Australia include

·       Mining

Some of the main minerals found in Australia include gold, silver, copper, iron ore, bauxite, manganese, lead, zinc, uranium, tin, nickel, phosphate, and sulfur. Australia is the second-largest producer of gold and manganese globally. In 2019 it was also the leading producer of iron ore. The minerals are part of Australia's exports, thus contributing to the high economy.

·       Manufacturing

The manufacturing industry GDP in the 1960s was 30 percent; however, the GDP growth of this sector has been declining. In the year 2007, the GDP growth was 12 percent which represented an 18 % drop. The drop is attributed to the ceased production of car manufacturing companies such as Mitsubishi, Ford, Holden, and Toyota.

3.     Agriculture

In 2009 the agricultural sector contributed around 2.1 percent of Australia's GDP. The main activities in the industry include fishing, forestry, and agriculture, about sixty percent of the farming products in Australia are usually exported. The agriculture sector has boosted the country's GDP and increased the countries’ labor force. In February 2015, the number of people who were employed by the agricultural industry was around 325,321.

 

Employment Sector

1.    Employment

Reports from the Australian Bureau of statics show that in June 2021, the number of employed people was 13.8 million. Australia's employment rate as of June 2021 was 74.6 percent.  In 2017 the service sector had the most significant workforce representing 78.8 percent. The second rank was construction with 9.2 percent. Third manufacturing sector with 7.5 percent. The fourth agricultural sector with 2.5 percent and finally the mining sector with 2.7 percent. In May 2021, the Australian labor force had massive employment in various sectors such as health, construction, education and training, manufacturing, wholesale trade, and many others.

2.    Unemployment

According to the Australia Bureau of Statistics, the number of unemployed people in August 2021 was 617.1 thousand, making the unemployment rate 4.5 percent.  The percentage of unemployed youth in August 2021 was 10.7 percent.

 

Exports and Imports

Exports

Australia is ranked as the 25th largest exporter in the world. Between the years 2018 and 2019, Australia exported goods worth 480.2 billion US Dollars. The main exports include aluminum, petroleum, copper, iron ore, coal, and petroleum. Australia's main export partners include New Zealand, India, United States, China, Japan, and South Korea. Australia is a member of the world trade organization and has a free trade agreement with Southeast Asian countries, including Japan. Singapore, Thailand, United States, Malaysia, Chile, and China.

Imports

Australia is the 20th largest importer globally. The country's main imports include good vehicles, civil engineering equipment, computers, medicaments, gold, furniture, petroleum cars, and telecom equipment parts. The main import partners include China, United States, Japan, Germany, Thailand, and the United Kingdom.

 

Inflation

Australia's inflation in the year 2020 was about 1.4 percent. The inflation CPI has been increasing gradually. By June 2021, Australia's inflation CPI rose to 3.8 percent. Some of the bases of the increased inflation are the fall of the fuel price and the introduction of free child care.

 

Conclusion

Australia has a highly developed economy. Its economy is massive, making it the twelve largest national economies by nominal GDP and the eighteenth largest in Purchasing Power Parity GDP. Austria's GDP has been decreasing over the years; however, in 2021, there was a slight increase. The service industry makes the highest contribution to the country's GDP and has employed the highest workforce.  The primary sectors leading to Australia's high economy include health care, mining, financial and insurance services, and manufacturing. Exports are also a significant contributor to the country's economy.


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