Economy of Australia
Local Governments, or, as they are called in Australia, councils, have their own taxes so that they can provide rubbish collection, park maintenance services, libraries and museums, etc. This taxation is commonly referred to as "council rates".
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Trade and economic performance
In the second half of the twentieth century, Australian trade shifted decisively away from Europe and North America to Japan and other East Asian markets.
Despite high global demand for Australian mineral commodities, export growth has remained flat in comparison to strong import growth. Even though Australia enjoys high commodity prices, economists have warned that structural change is needed in order to increase the size of manufacturing sector. The Australian economy has been performing nominally better than other economies of the OECD and has supported economic growth for 16 consecutive years.[2] According to the Reserve Bank of Australia, Australian per capita GDP growth is higher than that of New Zealand, US, Canada and The Netherlands.[3] The performance of the Australian economy is heavily dependent on US and Chinese economic growth.[4]
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See also
- Reserve Bank of Australia
- Australia's Balance of Payments
- Economy of Oceania
- The New South Wales Economy
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References
- Macfarlane, I. J. (1998). "Australian Monetary Policy in the Last Quarter of the Twentieth Century". Reserve Bank of Australia Bulletin, October 1998 (Adobe Acrobat *.PDF document)
- Parham, Dean. (2002). "Microeconomic reforms and the revival in Australia’s growth in productivity and living standards". Assistant Commissioner - Productivity Commission, Canberra Conference of Economists Adelaide, 1 October, 2002 (Adobe Acrobat *.PDF document) - document not found
- Some statistics on this page have been drawn from publications of the Australian Bureau of Statistics.
- OCED Factbook 2006 (Gini coeffients) OCED Factbook 2006 pdf
michelle's the best !==External links==
- Australia page @ Organisation for Economic Co-Operation & Development (OECD)
- Economic Survey of Australia @ OECD
- Monthly Economic and Social Indicators (Australian Parliamentary Library)
- Quick Reference Tables for the World Bank's 2005 data
- Harcourt, Tim. (2005). "Introducing the twenty five billion dollar man: how the LNG deal was won". Chief Economist - Australian Trade Commission - Sydney - 26 March 2003
- This article contains material from the CIA World Factbook (2005 edition) which, as a US government publication, is in the public domain.
- - "Australian Country Information" @ the Australian Department of Foreign Affairs & Trade
- Invest in Australia
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