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Average Salary - Australia AUSTRALIA / SALARY


SALARY SURVEYS

3,665

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

1.49 AUD = 1 USD

130,143 AUD

$87,494 USD
Sydney

138,353 AUD

77,347 AUD

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

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Average Salary / Australia

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Average salary in Australia is 130,143 AUD per year. The most typical earning is 77,347 AUD. All data are based on 3,665 salary surveys. Salaries are different between men and women. Men receive an average salary of 138,779 AUD. Women receive a salary of 110,071 AUD.

The most paid careers are Engineers & Technicians V with average income 185,039 AUD and Engineers & Technicians III with income 174,626 AUD.

Based on education, the highest salaries receive people with Doctorate Degree with salary of 166,445 AUD. The second most paid education level is Masters Degree with salary of 150,084 AUD.

Different experiences affect earning as well. People with 20+ Years of experience receive salary of 176,560 AUD. Employees with 16-20 Years of experience receive 167,933 AUD.

Levels / Australia (Gross AUD)

Salary Levels (AUD) per Year Surveys [%]
14,900 AUD - 22,299 AUD
0 n/a
22,300 AUD - 29,699 AUD
15 100%
0.41%
29,700 AUD - 37,199 AUD
39 99.59%
1.06%
37,200 AUD - 44,599 AUD
52 98.53%
1.42%
44,600 AUD - 52,099 AUD
79 97.11%
2.16%
52,100 AUD - 59,499 AUD
149 94.95%
4.07%
59,500 AUD - 66,899 AUD
194 90.89%
5.29%
66,900 AUD - 74,399 AUD
200 85.59%
5.46%
THE MOST TYPICAL SALARY
74,400 AUD - 81,799 AUD
278 80.14%
7.59%
81,800 AUD - 89,199 AUD
185 72.55%
5.05%
89,200 AUD - 96,699 AUD
259 67.5%
7.07%
96,700 AUD - 104,099 AUD
174 60.44%
4.75%
104,100 AUD - 111,599 AUD
196 55.69%
5.35%
111,600 AUD - 118,999 AUD
205 50.34%
5.59%
119,000 AUD - 126,399 AUD
154 44.75%
4.2%
126,400 AUD - 133,899 AUD
163 40.55%
4.45%
133,900 AUD - 141,299 AUD
139 36.1%
3.79%
141,300 AUD - 148,699 AUD
103 32.31%
2.81%
148,700 AUD - 156,199 AUD
120 29.5%
3.27%
156,200 AUD - 163,599 AUD
121 26.22%
3.3%
163,600 AUD - 171,099 AUD
77 22.92%
2.1%
171,100 AUD - 178,499 AUD
72 20.82%
1.96%
178,500 AUD - 185,899 AUD
89 18.85%
2.43%
185,900 AUD - 193,399 AUD
58 16.43%
1.58%
193,400 AUD - 200,799 AUD
49 14.84%
1.34%
200,800 AUD - 208,199 AUD
27 13.51%
0.74%
208,200 AUD - 215,699 AUD
61 12.77%
1.66%
215,700 AUD - 223,099 AUD
25 11.11%
0.68%
HIGH SALARIES
223,100 AUD - 237,999 AUD
78 10.42%
2.13%
238,000 AUD - 252,899 AUD
51 8.29%
1.39%
252,900 AUD - 267,699 AUD
45 6.9%
1.23%
267,700 AUD - 282,599 AUD
24 5.68%
0.65%
282,600 AUD - 297,499 AUD
37 5.02%
1.01%
297,500 AUD - 312,399 AUD
22 4.01%
0.6%
312,400 AUD - 327,199 AUD
16 3.41%
0.44%
327,200 AUD - 342,099 AUD
23 2.97%
0.63%
342,100 AUD - 356,999 AUD
19 2.35%
0.52%
357,000 AUD - 371,899 AUD
8 1.83%
0.22%
371,900 AUD - 520,599 AUD
59 1.61%
1.61%
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Gender / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Men 2,109 138,779 AUD
2 Women 843 110,071 AUD

Education / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Doctorate Degree 153 166,445 AUD
2 Masters Degree 850 150,084 AUD
3 Bachelors Degree 1,731 128,367 AUD
4 Some College 517 116,318 AUD
5 High School 367 100,551 AUD
6 Bellow H. School 47 98,766 AUD

Experience / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 20+ Years 577 176,560 AUD
2 16-20 Years 332 167,933 AUD
3 12-16 Years 386 157,075 AUD
4 8-12 Years 624 133,127 AUD
5 4-8 Years 665 118,252 AUD
6 2-4 Years 472 97,279 AUD
7 1-2 Years 287 84,784 AUD
8 0-1 Year 322 82,851 AUD

Age / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 71-75 2 207,499 AUD
2 51-55 175 174,924 AUD
3 46-50 283 168,677 AUD
4 61-65 39 162,727 AUD
5 41-45 324 158,413 AUD
6 56-60 103 155,438 AUD
7 66-70 18 146,365 AUD
8 36-40 448 141,456 AUD
9 31-35 545 128,813 AUD
10 n/a 718 128,069 AUD
11 26-30 575 106,055 AUD
12 76-99 4 101,146 AUD
13 21-25 343 83,148 AUD
14 14-20 88 73,033 AUD

Work Type / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Self Employed 165 140,861 AUD
2 Permanent 2,965 133,424 AUD
3 Contract 334 127,474 AUD
4 Part Time 201 76,603 AUD

Cities / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Perth 435 142,795 AUD
2 Sydney 1,084 138,333 AUD
3 Darwin 50 134,763 AUD
4 Brisbane 477 129,408 AUD
5 Canberra 118 128,664 AUD
6 Melbourne 859 126,433 AUD
7 Geelong 22 123,458 AUD
8 Albury 19 119,144 AUD
9 Wollongong 21 117,360 AUD
10 Adelaide 242 116,616 AUD
11 Newcastle 55 114,682 AUD
12 --Other-- 59 114,087 AUD
13 Hobart 31 112,897 AUD
14 Townsville 29 110,517 AUD
15 Toowoomba 13 110,220 AUD
16 Gold Coast 67 107,394 AUD
17 Cairns 23 106,650 AUD
18 Sunshine Coast 47 103,526 AUD
19 Launceston 14 88,354 AUD

Career Groups / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 Engineers & Technicians V 53 185,039 AUD
2 Engineers & Technicians III 28 174,626 AUD
3 Management & Business 417 174,329 AUD
4 Engineers & Technicians IV 46 156,480 AUD
5 Engineers & Technicians II 14 151,571 AUD
6 Insurance 45 148,745 AUD
7 Engineers & Technicians 232 144,729 AUD
8 Finance & Banking 180 142,795 AUD
9 Aviation & Shipping 32 139,671 AUD
10 IT & Programming 351 139,225 AUD
11 Geography & Geodesy 8 138,630 AUD
12 Human Resources 143 137,589 AUD
13 IT & Programming II 198 136,845 AUD
14 Construction & Labor Workers 131 134,614 AUD
15 Law 63 132,829 AUD
16 Health Care & Medical II 84 132,680 AUD
17 Health Care & Medical 103 132,383 AUD
18 Properties & Real Estates 43 130,152 AUD
19 Logistics, Road, Railway 41 125,838 AUD
20 Military 19 122,417 AUD
21 Marketing, Sales, Purchase 170 116,913 AUD
22 Education & University 190 114,831 AUD
23 Organization & Coordination 41 113,938 AUD
24 Media 57 112,302 AUD
25 Public Sector 78 111,112 AUD
26 Accounting & Administration 320 109,774 AUD
27 Architect Constructions 46 107,840 AUD
28 Salesmen & Saleswomen 74 105,757 AUD
29 Customer Services 89 97,279 AUD
30 Security & Fireguard 19 97,130 AUD
31 Agriculture & Fishing 21 96,535 AUD
32 Arts, Culture, Performance 19 95,791 AUD
33 Manufacturing & Labor Workers 64 89,544 AUD
34 Automobile 28 89,544 AUD
35 Sports & Recreation 15 89,544 AUD
36 Hotels & Tourism 43 86,123 AUD
37 Making Design 56 85,231 AUD
38 Fashion 20 80,024 AUD
39 Archaeology & History 2 75,116 AUD
40 Restaurants, Inns, Pubs 82 70,356 AUD

Careers / Australia (Gross AUD)

# Surveys AVERAGE SALARY / YEAR
1 CEO 21 266,997 AUD
2 Director 52 230,108 AUD
3 General Manager 68 223,712 AUD
4 Engineering Manager 29 209,582 AUD
5 Construction Manager 17 198,277 AUD
6 University Professor 22 190,245 AUD
7 Other Engineer Career 50 184,592 AUD
8 Human Resources Manager 63 178,196 AUD
9 Doctor 16 176,263 AUD
10 IT Project Manager 63 174,924 AUD
11 Finance Manager 26 172,098 AUD
12 IT Manager 63 171,205 AUD
13 Construction Project Manager 25 160,942 AUD
14 Manager 64 156,331 AUD
15 Business Development Manager 18 154,695 AUD
16 Operations Manager 31 148,447 AUD
17 Lead Developer 19 148,299 AUD
18 Civil Engineer 34 145,621 AUD
19 Chartered Accountant 34 142,051 AUD
20 Project Manager 45 140,861 AUD
21 Sales Manager 18 140,713 AUD
22 Electrical Engineer 28 140,266 AUD
23 Lawyer 34 140,118 AUD
24 Other Management Career 24 132,829 AUD
25 CPA - Certified Public Accountant 26 130,003 AUD
26 Software Engineer 29 129,259 AUD
27 Engineer 63 128,367 AUD
28 Audit Manager 28 127,474 AUD
29 Other Human Resource Career 27 127,177 AUD
30 System Analyst 21 126,433 AUD
31 Lecturer 32 126,284 AUD
32 Marketing Manager 32 126,136 AUD
33 Other Finance Career 21 125,987 AUD
34 Senior Accountant 17 124,499 AUD
35 Mechanical Engineer 33 123,012 AUD
36 Other IT Career 22 120,781 AUD
37 Financial Analyst 35 120,334 AUD
38 Other Medical Career 32 119,144 AUD
39 Other Sales Career 18 118,550 AUD
40 Other Constr. & Labor Career 16 118,252 AUD
41 Customer Service Manager 27 117,062 AUD
42 Other Public Sector Career 43 116,913 AUD
43 Software Developer 68 116,616 AUD
44 Account Manager 22 112,897 AUD
45 Registered Nurse 19 111,856 AUD
46 Architect 28 105,014 AUD
47 System Administrator 18 102,336 AUD
48 IT Coordinator 20 101,444 AUD
49 Accountant 52 100,700 AUD
50 Salesmen or Saleswomen 24 99,956 AUD
51 Human Resource 23 98,915 AUD
52 Public Administration 18 95,345 AUD
53 Hotel Manager 18 93,114 AUD
54 Human Resource Coordinator 16 89,842 AUD
55 Teacher 31 89,098 AUD
56 Other Education Career 22 85,528 AUD
57 Cook 28 75,413 AUD
58 Restaurant Manager 16 73,331 AUD

People's individual salary examples (surveys)

Stock Controller
Posted 17 November 2023
City Education Experience Knowledge Gross salary / year
Melbourne High School 4-8 Years Advanced 65,000 AUD

Recruitment
Posted 16 November 2023
City Education Experience Knowledge Gross salary / year
Sydney High School 2-4 Years Intermediate 80,000 AUD

National Team Head Coach
Posted 16 November 2023
City Education Experience Knowledge Gross salary / year
Canberra Bachelors Degree 16-20 Years Expert 67,000 AUD

Managing Director
Posted 22 August 2023
City Education Experience Knowledge Gross salary / year
Sydney Some College 16-20 Years Expert 370,000 AUD

General Manager
Posted 22 August 2023
City Education Experience Knowledge Gross salary / year
Adelaide Bachelors Degree 12-16 Years Advanced 275,000 AUD

Carpenter
Posted 21 August 2023
City Education Experience Knowledge Gross salary / year
Brisbane Some College 2-4 Years Advanced 70,000 AUD

Technical Operations Manager
Posted 21 August 2023
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 16-20 Years Advanced 145,000 AUD

Product Owner
Posted 21 August 2023
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 16-20 Years Intermediate 130,000 AUD

Project Manager
Posted 18 July 2023
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 8-12 Years Advanced 117,900 AUD

Lawyer
Posted 18 July 2023
City Education Experience Knowledge Gross salary / year
Wollongong Bachelors Degree 1-2 Years Intermediate 62,200 AUD

Human Resources Advisor
Posted 17 July 2023
City Education Experience Knowledge Gross salary / year
Brisbane Bachelors Degree 2-4 Years Advanced 81,500 AUD

Hr Communications
Posted 16 July 2023
City Education Experience Knowledge Gross salary / year
Adelaide High School 16-20 Years Intermediate 110,600 AUD

Assistant
Posted 15 July 2023
City Education Experience Knowledge Gross salary / year
Darwin Masters Degree 1-2 Years Advanced 135,600 AUD

Software Engineer
Posted 15 July 2023
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 2-4 Years Advanced 127,700 AUD

Dj & Producer
Posted 14 July 2023
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 2-4 Years Advanced 54,000 AUD

Senior Associate
Posted 12 July 2023
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 4-8 Years Advanced 137,500 AUD

Designer
Posted 12 July 2023
City Education Experience Knowledge Gross salary / year
Sydney Masters Degree 1-2 Years Intermediate 73,700 AUD

Insights And Analytics Lead - Finanace
Posted 11 July 2023
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 4-8 Years Intermediate 131,500 AUD

Commercial Property Underwriter
Posted 21 May 2023
City Education Experience Knowledge Gross salary / year
Adelaide Some College 16-20 Years Advanced 182,600 AUD

Casual Team Member
Posted 18 May 2023
City Education Experience Knowledge Gross salary / year
Sydney High School 0-1 Year Basic 49,300 AUD

Primary School Teacher
Posted 17 May 2023
City Education Experience Knowledge Gross salary / year
Townsville Bachelors Degree 1-2 Years Intermediate 64,100 AUD

Dance Teacher
Posted 17 May 2023
City Education Experience Knowledge Gross salary / year
Sydney High School 1-2 Years Basic 69,100 AUD

Finance Manager
Posted 29 September 2022
City Education Experience Knowledge Gross salary / year
Gold Coast Bachelors Degree 16-20 Years Advanced 91,200 AUD

General Manager
Posted 29 September 2022
City Education Experience Knowledge Gross salary / year
Canberra Bachelors Degree 12-16 Years Advanced 200,400 AUD

Fuel Management
Posted 29 September 2022
City Education Experience Knowledge Gross salary / year
--Other-- High School 0-1 Year Basic 36,100 AUD

Principle Consultant
Posted 29 September 2022
City Education Experience Knowledge Gross salary / year
Sydney Masters Degree 12-16 Years Advanced 192,400 AUD

Nurse
Posted 28 September 2022
City Education Experience Knowledge Gross salary / year
Cairns Bachelors Degree 1-2 Years Intermediate 86,900 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 80,200 AUD

Manager
Posted 28 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Some College 4-8 Years Advanced 105,200 AUD

Senior Business Analyst
Posted 28 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 8-12 Years Expert 122,700 AUD

Project Architect
Posted 27 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Masters Degree 0-1 Year Basic 66,100 AUD

Seo Writer
Posted 13 September 2022
City Education Experience Knowledge Gross salary / year
Newcastle Bachelors Degree 4-8 Years Advanced 111,100 AUD

Account Manager
Posted 12 September 2022
City Education Experience Knowledge Gross salary / year
Adelaide Some College 1-2 Years Basic 50,500 AUD

Student Recruitment Manager
Posted 12 September 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 12-16 Years Expert 95,900 AUD

Specialist Chemist
Posted 12 September 2022
City Education Experience Knowledge Gross salary / year
Brisbane Bachelors Degree 16-20 Years Expert 141,400 AUD

Leut
Posted 11 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 4-8 Years Advanced 86,600 AUD

Project Manager
Posted 11 September 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 8-12 Years Intermediate 93,900 AUD

Migration Agent
Posted 11 September 2022
City Education Experience Knowledge Gross salary / year
Hobart Masters Degree 0-1 Year Intermediate 60,600 AUD

General Practitioner
Posted 10 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 2-4 Years Intermediate 70,700 AUD

Legal Coiusnel
Posted 08 September 2022
City Education Experience Knowledge Gross salary / year
Gold Coast Bachelors Degree 2-4 Years Intermediate 101,000 AUD

3d Generalist
Posted 08 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 8-12 Years Advanced 36,400 AUD

Head Of Content
Posted 08 September 2022
City Education Experience Knowledge Gross salary / year
Sydney Bachelors Degree 2-4 Years Expert 131,300 AUD

Senior Teacher
Posted 07 September 2022
City Education Experience Knowledge Gross salary / year
Perth Bachelors Degree 12-16 Years Expert 146,400 AUD

General Manager
Posted 07 September 2022
City Education Experience Knowledge Gross salary / year
Canberra Masters Degree 4-8 Years Intermediate 80,800 AUD

Materials Specialist
Posted 07 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Doctorate Degree 4-8 Years Expert 181,800 AUD

Air Defense
Posted 05 September 2022
City Education Experience Knowledge Gross salary / year
Darwin Masters Degree 16-20 Years Expert 69,700 AUD

Senior Development Manager
Posted 05 September 2022
City Education Experience Knowledge Gross salary / year
Adelaide Bachelors Degree 8-12 Years Advanced 202,000 AUD

General Manager
Posted 05 September 2022
City Education Experience Knowledge Gross salary / year
Brisbane Bachelors Degree 1-2 Years Advanced 161,600 AUD

Professional Services Engagement Manager
Posted 04 September 2022
City Education Experience Knowledge Gross salary / year
Melbourne Bachelors Degree 8-12 Years Advanced 295,500 AUD

Wedding Photographer
Posted 04 September 2022
City Education Experience Knowledge Gross salary / year
Newcastle High School 2-4 Years Expert 126,600 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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