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Average Salary - Australia AUSTRALIA / SALARY


SALARY SURVEYS

3,643

UPDATED
March 2023
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AVERAGE SALARY / YEAR MOST TYPICAL SALARY / YEAR
Gross income
Net (after tax)

1.44 AUD = 1 USD

126,433 AUD

$87,543 USD
Sydney

134,490 AUD

75,101 AUD

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

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Average Salary / Australia

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Average salary in Australia is 126,433 AUD per year. The most typical earning is 75,101 AUD. All data are based on 3,643 salary surveys. Salaries are different between men and women. Men receive an average salary of 134,892 AUD. Women receive a salary of 106,730 AUD.

The most paid careers are Engineers & Technicians V with average income 179,664 AUD and Engineers & Technicians III with income 169,554 AUD.

Based on education, the highest salaries receive people with Doctorate Degree with salary of 161,611 AUD. The second most paid education level is Masters Degree with salary of 145,869 AUD.

Different experiences affect earning as well. People with 20+ Years of experience receive salary of 171,432 AUD. Employees with 16-20 Years of experience receive 163,055 AUD.

Levels / Australia (Gross AUD)

Salary Levels (AUD) per Year Surveys [%]
14,400 AUD - 21,699 AUD
0 n/a
21,700 AUD - 28,899 AUD
15 100%
0.41%
28,900 AUD - 36,099 AUD
39 99.59%
1.07%
36,100 AUD - 43,299 AUD
52 98.52%
1.43%
43,300 AUD - 50,499 AUD
78 97.09%
2.14%
50,500 AUD - 57,799 AUD
148 94.95%
4.06%
57,800 AUD - 64,999 AUD
191 90.89%
5.24%
65,000 AUD - 72,199 AUD
196 85.64%
5.38%
THE MOST TYPICAL SALARY
72,200 AUD - 79,399 AUD
276 80.26%
7.58%
79,400 AUD - 86,699 AUD
185 72.69%
5.08%
86,700 AUD - 93,899 AUD
259 67.61%
7.11%
93,900 AUD - 101,099 AUD
174 60.5%
4.78%
101,100 AUD - 108,299 AUD
195 55.72%
5.35%
108,300 AUD - 115,499 AUD
204 50.37%
5.6%
115,500 AUD - 122,799 AUD
154 44.77%
4.23%
122,800 AUD - 129,999 AUD
160 40.54%
4.39%
130,000 AUD - 137,199 AUD
137 36.15%
3.76%
137,200 AUD - 144,399 AUD
102 32.39%
2.8%
144,400 AUD - 151,599 AUD
120 29.59%
3.29%
151,600 AUD - 158,899 AUD
121 26.3%
3.32%
158,900 AUD - 166,099 AUD
77 22.98%
2.11%
166,100 AUD - 173,299 AUD
72 20.86%
1.98%
173,300 AUD - 180,499 AUD
88 18.89%
2.42%
180,500 AUD - 187,799 AUD
58 16.47%
1.59%
187,800 AUD - 194,999 AUD
49 14.88%
1.35%
195,000 AUD - 202,199 AUD
27 13.53%
0.74%
202,200 AUD - 209,399 AUD
61 12.79%
1.67%
209,400 AUD - 216,599 AUD
25 11.12%
0.69%
HIGH SALARIES
216,600 AUD - 231,099 AUD
78 10.43%
2.14%
231,100 AUD - 245,499 AUD
51 8.29%
1.4%
245,500 AUD - 259,999 AUD
45 6.89%
1.24%
260,000 AUD - 274,399 AUD
23 5.65%
0.63%
274,400 AUD - 288,799 AUD
37 5.02%
1.02%
288,900 AUD - 303,299 AUD
22 4.01%
0.6%
303,300 AUD - 317,699 AUD
16 3.4%
0.44%
317,700 AUD - 332,199 AUD
23 2.96%
0.63%
332,200 AUD - 346,599 AUD
19 2.33%
0.52%
346,600 AUD - 361,099 AUD
7 1.81%
0.19%
361,100 AUD - 505,499 AUD
59 1.62%
1.62%
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Gender / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Men 2,095 134,892 AUD
2 Women 835 106,730 AUD

Education / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Doctorate Degree 153 161,611 AUD
2 Masters Degree 848 145,869 AUD
3 Bachelors Degree 1,719 124,783 AUD
4 Some College 514 112,362 AUD
5 High School 362 97,920 AUD
6 Bellow H. School 47 95,898 AUD

Experience / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 20+ Years 577 171,432 AUD
2 16-20 Years 326 163,055 AUD
3 12-16 Years 385 152,223 AUD
4 8-12 Years 623 129,404 AUD
5 4-8 Years 662 114,962 AUD
6 2-4 Years 467 94,598 AUD
7 1-2 Years 282 82,466 AUD
8 0-1 Year 321 80,444 AUD

Age / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 71-75 2 201,472 AUD
2 51-55 175 169,843 AUD
3 46-50 282 163,489 AUD
4 61-65 37 155,112 AUD
5 41-45 321 153,957 AUD
6 56-60 101 151,646 AUD
7 66-70 18 142,114 AUD
8 36-40 445 137,492 AUD
9 31-35 542 125,360 AUD
10 n/a 718 124,349 AUD
11 26-30 571 103,119 AUD
12 76-99 4 98,209 AUD
13 21-25 340 81,022 AUD
14 14-20 87 71,201 AUD

Work Type / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Self Employed 165 136,770 AUD
2 Permanent 2,947 129,693 AUD
3 Contract 331 123,916 AUD
4 Part Time 200 74,523 AUD

Cities / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Perth 433 138,792 AUD
2 Sydney 1,075 134,459 AUD
3 Darwin 49 130,849 AUD
4 Brisbane 475 125,938 AUD
5 Canberra 117 125,360 AUD
6 Melbourne 857 122,761 AUD
7 Geelong 22 119,872 AUD
8 Wollongong 20 116,695 AUD
9 Albury 19 115,684 AUD
10 Adelaide 239 112,362 AUD
11 Newcastle 55 111,351 AUD
12 --Other-- 59 110,773 AUD
13 Hobart 31 109,618 AUD
14 Townsville 28 108,896 AUD
15 Toowoomba 13 107,018 AUD
16 Gold Coast 67 104,274 AUD
17 Cairns 23 103,552 AUD
18 Sunshine Coast 47 100,519 AUD
19 Launceston 14 85,788 AUD

Career Groups / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Engineers & Technicians V 53 179,664 AUD
2 Engineers & Technicians III 28 169,554 AUD
3 Management & Business 415 168,977 AUD
4 Engineers & Technicians IV 46 151,935 AUD
5 Engineers & Technicians II 14 147,169 AUD
6 Insurance 44 143,702 AUD
7 Engineers & Technicians 232 140,525 AUD
8 Finance & Banking 180 138,648 AUD
9 Aviation & Shipping 32 135,615 AUD
10 IT & Programming 348 135,181 AUD
11 Geography & Geodesy 8 134,604 AUD
12 Human Resources 139 133,593 AUD
13 IT & Programming II 198 132,871 AUD
14 Construction & Labor Workers 130 131,137 AUD
15 Law 61 129,982 AUD
16 Health Care & Medical II 84 128,827 AUD
17 Health Care & Medical 103 128,538 AUD
18 Properties & Real Estates 43 126,371 AUD
19 Logistics, Road, Railway 41 122,183 AUD
20 Military 19 118,861 AUD
21 Marketing, Sales, Purchase 170 113,518 AUD
22 Education & University 189 111,640 AUD
23 Organization & Coordination 41 110,629 AUD
24 Media 57 109,040 AUD
25 Public Sector 78 107,885 AUD
26 Accounting & Administration 318 106,441 AUD
27 Architect Constructions 45 105,574 AUD
28 Salesmen & Saleswomen 74 102,686 AUD
29 Arts, Culture, Performance 17 96,909 AUD
30 Customer Services 88 94,887 AUD
31 Security & Fireguard 19 94,309 AUD
32 Agriculture & Fishing 21 93,731 AUD
33 Sports & Recreation 14 88,532 AUD
34 Manufacturing & Labor Workers 63 87,377 AUD
35 Automobile 28 86,943 AUD
36 Hotels & Tourism 43 83,622 AUD
37 Making Design 56 82,755 AUD
38 Fashion 20 77,700 AUD
39 Archaeology & History 2 72,934 AUD
40 Restaurants, Inns, Pubs 82 68,313 AUD

Careers / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 CEO 21 259,242 AUD
2 Director 52 223,425 AUD
3 General Manager 67 215,193 AUD
4 Engineering Manager 29 203,494 AUD
5 Construction Manager 17 192,518 AUD
6 University Professor 22 184,719 AUD
7 Other Engineer Career 50 179,231 AUD
8 Human Resources Manager 62 171,576 AUD
9 Doctor 16 171,143 AUD
10 IT Project Manager 62 170,565 AUD
11 Finance Manager 26 167,099 AUD
12 IT Manager 62 166,666 AUD
13 Construction Project Manager 25 156,267 AUD
14 Manager 64 151,790 AUD
15 Business Development Manager 18 150,202 AUD
16 Operations Manager 31 144,136 AUD
17 Lead Developer 19 143,991 AUD
18 Civil Engineer 34 141,392 AUD
19 Lawyer 32 138,503 AUD
20 Chartered Accountant 34 137,925 AUD
21 Project Manager 44 137,203 AUD
22 Sales Manager 18 136,626 AUD
23 Electrical Engineer 28 136,192 AUD
24 Other Management Career 24 128,971 AUD
25 CPA - Certified Public Accountant 26 126,227 AUD
26 Software Engineer 29 125,505 AUD
27 Other Human Resource Career 26 125,216 AUD
28 Engineer 63 124,638 AUD
29 Audit Manager 28 123,772 AUD
30 System Analyst 21 122,761 AUD
31 Lecturer 32 122,616 AUD
32 Marketing Manager 32 122,472 AUD
33 Other Finance Career 21 122,327 AUD
34 Senior Accountant 16 120,594 AUD
35 Mechanical Engineer 33 119,439 AUD
36 Other IT Career 22 117,273 AUD
37 Financial Analyst 35 116,839 AUD
38 Other Medical Career 32 115,684 AUD
39 Other Sales Career 18 115,106 AUD
40 Other Constr. & Labor Career 16 114,817 AUD
41 Customer Service Manager 27 113,662 AUD
42 Other Public Sector Career 43 113,518 AUD
43 Software Developer 67 113,084 AUD
44 Account Manager 22 109,618 AUD
45 Registered Nurse 19 108,607 AUD
46 Architect 27 103,119 AUD
47 System Administrator 18 99,364 AUD
48 IT Coordinator 20 98,497 AUD
49 Accountant 51 97,198 AUD
50 Salesmen or Saleswomen 24 97,053 AUD
51 Human Resource 22 95,464 AUD
52 Public Administration 18 92,576 AUD
53 Hotel Manager 18 90,410 AUD
54 Human Resource Coordinator 16 87,232 AUD
55 Teacher 31 86,510 AUD
56 Other Education Career 22 83,044 AUD
57 Cook 28 73,223 AUD
58 Restaurant Manager 16 71,201 AUD

People's individual salary examples (surveys)

Finance Manager
Posted 29 September 2022
City Education Experience Knowledge Gross salary / year
Gold Coast Bachelors Degree 16-20 Years Advanced 88,600 AUD

General Manager
Posted 29 September 2022
City Education Experience Knowledge Gross salary / year
Canberra Bachelors Degree 12-16 Years Advanced 194,600 AUD

Fuel Management
Posted 29 September 2022
City Education Experience Knowledge Gross salary / year
--Other-- High School 0-1 Year Basic 35,000 AUD

Principle Consultant
Posted 29 September 2022
City Education Experience Knowledge Gross salary / year
Sydney Masters Degree 12-16 Years Advanced 186,800 AUD

Nurse
Posted 28 September 2022
City Education Experience Knowledge Gross salary / year
Cairns Bachelors Degree 1-2 Years Intermediate 84,400 AUD

Office Manager & Personal Assistant To The Chairman
Posted 28 September 2022
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 12-16 Years Expert 77,800 AUD

Manager
Posted 28 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Some College 4-8 Years Advanced 102,200 AUD

Senior Business Analyst
Posted 28 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 8-12 Years Expert 119,100 AUD

Project Architect
Posted 27 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Masters Degree 0-1 Year Basic 64,200 AUD

Seo Writer
Posted 13 September 2022
City Education Experience Knowledge Gross salary / year
Newcastle Bachelors Degree 4-8 Years Advanced 107,900 AUD

Account Manager
Posted 12 September 2022
City Education Experience Knowledge Gross salary / year
Adelaide Some College 1-2 Years Basic 49,000 AUD

Student Recruitment Manager
Posted 12 September 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 12-16 Years Expert 93,200 AUD

Specialist Chemist
Posted 12 September 2022
City Education Experience Knowledge Gross salary / year
Brisbane Bachelors Degree 16-20 Years Expert 137,300 AUD

Leut
Posted 11 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 4-8 Years Advanced 84,000 AUD

Project Manager
Posted 11 September 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 8-12 Years Intermediate 91,200 AUD

Migration Agent
Posted 11 September 2022
City Education Experience Knowledge Gross salary / year
Hobart Masters Degree 0-1 Year Intermediate 58,800 AUD

General Practitioner
Posted 10 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 2-4 Years Intermediate 68,600 AUD

Legal Coiusnel
Posted 08 September 2022
City Education Experience Knowledge Gross salary / year
Gold Coast Bachelors Degree 2-4 Years Intermediate 98,100 AUD

3d Generalist
Posted 08 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 8-12 Years Advanced 35,300 AUD

Head Of Content
Posted 08 September 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 2-4 Years Expert 127,500 AUD

Senior Teacher
Posted 07 September 2022
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 12-16 Years Expert 142,200 AUD

General Manager
Posted 07 September 2022
City Education Experience Knowledge Gross salary / year
Canberra Masters Degree 4-8 Years Intermediate 78,400 AUD

Materials Specialist
Posted 07 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Doctorate Degree 4-8 Years Expert 176,500 AUD

Air Defense
Posted 05 September 2022
City Education Experience Knowledge Gross salary / year
Darwin Masters Degree 16-20 Years Expert 67,700 AUD

Senior Development Manager
Posted 05 September 2022
City Education Experience Knowledge Gross salary / year
Adelaide Bachelors Degree 8-12 Years Advanced 196,100 AUD

General Manager
Posted 05 September 2022
City Education Experience Knowledge Gross salary / year
Brisbane Bachelors Degree 1-2 Years Advanced 156,900 AUD

Professional Services Engagement Manager
Posted 04 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 8-12 Years Advanced 286,900 AUD

Wedding Photographer
Posted 04 September 2022
City Education Experience Knowledge Gross salary / year
Newcastle High School 2-4 Years Expert 123,000 AUD

Financial Accountant
Posted 04 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Doctorate Degree 8-12 Years Expert 143,500 AUD

Refuge Support
Posted 03 September 2022
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 1-2 Years Advanced 101,400 AUD

Finance Lead
Posted 31 August 2022
City Education Experience Knowledge Gross salary / year
Perth Masters Degree 4-8 Years Advanced 112,700 AUD

Operations Manager
Posted 31 August 2022
City Education Experience Knowledge Gross salary / year
Gold Coast Bachelors Degree 8-12 Years Advanced 225,400 AUD

Education Consultant
Posted 30 August 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 2-4 Years Advanced 82,000 AUD

It Assistant Manager
Posted 27 July 2022
City Education Experience Knowledge Gross salary / year
Adelaide High School 1-2 Years Intermediate 52,200 AUD

Management Accountant
Posted 27 July 2022
City Education Experience Knowledge Gross salary / year
Adelaide Masters Degree 0-1 Year Advanced 75,200 AUD

Consultant
Posted 27 July 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 0-1 Year Intermediate 77,400 AUD

Front Office All Rounder
Posted 27 July 2022
City Education Experience Knowledge Gross salary / year
Gold Coast Bachelors Degree 0-1 Year Intermediate 45,100 AUD

Enterprise Architect
Posted 26 July 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 12-16 Years Expert 195,600 AUD

Regional Director Of People & Performance, Asia Pacific
Posted 26 July 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 16-20 Years Expert 376,200 AUD

Portfolio Manager
Posted 25 July 2022
City Education Experience Knowledge Gross salary / year
Sydney Masters Degree 8-12 Years Advanced 191,300 AUD

Senior Project Manager
Posted 24 July 2022
City Education Experience Knowledge Gross salary / year
Sydney Masters Degree 8-12 Years Expert 163,400 AUD

Chief Technology Officer
Posted 24 July 2022
City Education Experience Knowledge Gross salary / year
Melbourne Masters Degree 12-16 Years Expert 279,600 AUD

Director - Finance
Posted 24 July 2022
City Education Experience Knowledge Gross salary / year
Brisbane Masters Degree 12-16 Years Advanced 140,300 AUD

Managing Director
Posted 23 July 2022
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 16-20 Years Expert 235,500 AUD

Graduate Software Engineer
Posted 23 July 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 0-1 Year Intermediate 73,600 AUD

Construction Trainer Assessor
Posted 23 July 2022
City Education Experience Knowledge Gross salary / year
Darwin Some College 16-20 Years Expert 139,300 AUD

Sales
Posted 21 July 2022
City Education Experience Knowledge Gross salary / year
Adelaide Bachelors Degree 1-2 Years Advanced 54,000 AUD

National Director
Posted 21 July 2022
City Education Experience Knowledge Gross salary / year
Sydney Masters Degree 12-16 Years Expert 101,100 AUD

Manage
Posted 21 July 2022
City Education Experience Knowledge Gross salary / year
Sunshine Coast Bachelors Degree 12-16 Years Advanced 85,600 AUD

Music
Posted 21 July 2022
City Education Experience Knowledge Gross salary / year
Sydney Masters Degree 2-4 Years Advanced 92,200 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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