Development of Australia's economy

The evolution of economies and what drives the economy is different throughout the world. While mean 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 ripening 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 aim in the development of Australias economy as sanitary as the depressions of physical distance on Australias pursuit 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 coalesce 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 ha s had an yearly 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 incision that drives Australias economy. Overall, Australias economy relies heavily on Construction, Retail, and Tourism. The manufacturing sector of Australia has driven the economy and outperformed other sectors that drive its e! conomy. While morphological changes in the Australian economy combined with increased globalization and international development have had a deep meat on the size and structure of the sector, manufacturing continues as a hearty contributor to GDP, a provider of employment and a ejaculate of export revenue for Australia....If you want to get a wide essay, order it on our website: OrderCustomPaper.com

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