Australia


Australia Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Australia; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Reserve Bank of Australia
International Reserves US$ 46.714 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 1.586 trillion (2011 estimate)
GDP (Purchasing Power Parity) 954.296 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
2.6% 3.9% 3.2% 3.6% 3.2% 2.6% 4.8% 2.5%
2009 2010 2011 2012*
1.4% 2.5% 2% 3%

*Estimate

GDP per capita - current prices US$ 68,916 (2011 estimate)
GDP per capita - PPP $41,468 International Dollars (2011 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
1.32% 1.31% 1.26% 1.18% 1.13%

**Forecast

GDP - composition by sector
  • agriculture: 4% 
  • industry: 25.6% 
  • services: 70.4% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) 2.24% (2008)

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
1.8%(2008) 2.8% 3.4% 2.7%

*Estimate

Unemployment rate
2009 2010 2011 2012*
5.6% 5.2% 5.1%(2009) 5.2%

*Estimate

Household saving rates 10.3% (Net saving; 2012 forecast)

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
11.8% 16.9% 20.4% 22.9% 24%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-0.8% -4.1% -4.8% -4.3% -2.5%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: AAA

Moody's rating: Aaa

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$1.258 trillion US$1.455 trillion US$1.198 trillion
Largest companies in Australia Qantas Airways (Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs), Brambles (Business & Personal Services),Crown Ltd (Casinos & Gaming), Amcor (Containers & Packaging),Suncorp-Metway (Diversified Insurance), BHP Billiton (Diversified Metals & Mining),Newcrest Mining (Diversified Metals & Mining), Orica (Diversified Metals & Mining), Iluka Resources (Diversified Metals & Mining), Origin Energy (Electric Utilities), AGL Energy (Electric Utilities), Wesfarmers (Food Retail), Woolworths (Food Retail), Metcash (Food Retail), Macquarie Group (Investment services), AMP (Investment services), Challenger Ltd (Investment services), Fortescue Metals Group (Iron & Steel), Bluescope Steel (Iron & Steel), Commonwealth Bank (Major Banks), Westpac Banking Group (Major Banks), National Australia Bank (Major Banks), ANZ (Major Banks), Woodside Petroleum (Oil & Gas Operations), Santos (Oil & Gas Operations), Caltex Australia (Oil & Gas Operations), WorleyParsons (Oil Services & Equipment), Toll Holdings (Other Transportation), Transurban Group (Other Transportation), QBE Insurance Group (Property & Casualty Insurance), Insurance Australia Group (Property & Casualty Insurance), QR National (Railroads), Westfield Group (Real Estate), Stockland Australia (Real Estate), Westfield Retail Trust (Real Estate), Lend Lease (Real Estate), CFS Retail Property Trust (Real Estate), Goodman Group (Real Estate), Bendigo & Adelaide Bank (Regional Banks), Bank of Queensland (Regional Banks), Incitec Pivot (Specialized Chemicals), Telstra (Telecommunications Services) (2012)
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -73.2 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP -4.6% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

19.8% (2010)

(Data released on April 2012)

Shares in world total merchandising export 1.48%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 1.22% (2011)(2007)

(Data were released in 2012)

Total exports US$263.9 billion (2012 estimate) 
Export commodities coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment
Total imports US$239.7 billion (2012 estimate) 
Import commodities machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products
Exports - major partners China 27.4%, Japan 19.2%, South Korea 8.9%, India 5.8% (2011)
Imports - major partners China 18.5%, US 11.4%, Japan 7.9%, Singapore 6.3%, Germany 4.7% (2011)
FDI inflows
2009 2010 2011
US$26,554 million US$35,556 million(2009) US$41,317 million(2009)
FDI outflows
2009 2010 2011
US$16,693 million US$12,791 million US$19,999 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$18,454 million US$-2,981 million(2009) US$15,851 million(2009) US$6,868 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

Newcrest Mining Ltd, Lihir Gold Ltd, Papua New Guinea, $9 billion
CS CSG (Australia) Pty Ltd, Arrow Energy Ltd, Australia, $3.2 billion

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

BHP Billiton Ltd, Petrohawk Energy Corp, United States, $11.8 billion
AMP Ltd, AXA SA, France, $7.1 billion
AMP Ltd, AXA SA, France, $6 billion
BHP Billiton Ltd, Chesapeake Energy Corp, United States, $4.8 billion(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 10 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 2 out of 185 countries(2009)

Enforcing Contracts: 15 out of 185 countries

Registering Property: 37 out of 185 countries

Getting credit: 4 out of 185 countries

Protecting investors: 70 out of 185 countries

Trading across border: 44 out of 185 countries

Paying Taxes: 48 out of 185 countries

Dealing with Construction Permits: 11 out of 185 countries

Getting Electricity: 36 out of 185 countries

Resolving Insolvency: 18 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
20

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 3 Score: 83.1 (Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+10
Total area 7,692,024 km2 (2006)
Capital Canberra (2009)
Currency Australian dollars (AUD) (2009)
Government type federal parliamentary democracy and a Commonwealth realm (2009)
Languages English 78.5%, Chinese 2.5%, Italian 1.6%, Greek 1.3%, Arabic 1.2%, Vietnamese 1%, other 8.2%, unspecified 5.7% (2006 Census)
Religions Cetholic 25.8%, Anglican 18.7%, Uniting Church 5.7%, Presbyterian and Reformed 3%, Eastern Orthodox 2.7%, Other Christian 7.9%, Buddhist 2.1%, Muslim 1.7%, Other 2.4%, Unspecified 11.3%, None 18.7% (2006 Census)
Total population
1980 1990 2000 2012* 2017**
14.72 million 17.17 million 19.27 million 22.68 million 24.14 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
81.5% 85.8% 87.2% 89.2%
Population median age 37 years (2010)
Population growth rate 1.4% (2011)
Life expectancy 82 years (2010)
Adult literacy N/A
% of population living on less than $2 a day N/A
Inequality of wealth distribution (Gini index)

35.19 (1994)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

154.97% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 79% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Canberra: 34th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

18.2718 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS ANZ (National, 2013)
2012:
  • COUNTRY WINNERS ANZ (Global, 2012)
2011:
  • COUNTRY WINNERS ANZ (Global, 2011)
2010:
  • COUNTRY WINNERS Commonwealth Bank of Australia (Global, 2010)
2009:
  • COUNTRY WINNERS ANZ (Global, 2009)

WORLD'S BEST DEVELOPED MARKET BANKS

(ranking of the 50 safest banks in the world; the first is the safest)
2012:
  • ANZ (Global, 2012)
2011:
  • Commonwealth Bank of Australia (Central and Eastern Europe, 2011)
2010:
  • Commonwealth Bank of Australia (Global, 2010)
2009:
  • Commonwealth Bank of Australia (Global, 2009)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Australasia, 2012)
  • COUNTRY WINNERS / Best Consumer Internet Banks Citi (Australasia, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Citi (Australasia, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Australasia, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (Global, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks HSBC (Global, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Global, 2009)

WORLD'S SAFEST BANKS

2013:
  • OVERALL SAFEST National Australia Bank (Global, 2013)
  • OVERALL SAFEST Commonwealth Bank of Australia (Global, 2013)
  • OVERALL SAFEST Westpac (Global, 2013)
  • OVERALL SAFEST ANZ Group (Global, 2013)
  • REGIONAL WINNERS National Australia Bank (Australasia, 2013)
  • REGIONAL WINNERS Commonwealth Bank of Australia (Australasia, 2013)
  • REGIONAL WINNERS Westpac (Australasia, 2013)
  • REGIONAL WINNERS ANZ Group (Australasia, 2013)
  • REGIONAL WINNERS Suncorp Metway (Australasia, 2013)
  • REGIONAL WINNERS Bendigo and Adelaide Bank (Australasia, 2013)
  • REGIONAL WINNERS Macquarie (Australasia, 2013)
  • REGIONAL WINNERS Bank of Queensland (Australasia, 2013)
2012:
  • OVERALL SAFEST National Australia Bank (National, 2012)
  • OVERALL SAFEST Commonwealth Bank of Australia (National, 2012)
  • OVERALL SAFEST Westpac Banking Corporation (National, 2012)
  • OVERALL SAFEST Australia and New Zealand Banking Group (Australasia, 2012)
  • REGIONAL WINNERS National Australia Bank (Australasia, 2012)
  • REGIONAL WINNERS Commonwealth Bank of Australia (Australasia, 2012)
  • REGIONAL WINNERS Westpac (Australasia, 2012)
  • REGIONAL WINNERS Australia & New Zealand Banking Group (ANZ) (Australasia, 2012)
  • REGIONAL WINNERS Suncorp-Metway (Glenn Stevens, 2012)
  • REGIONAL WINNERS Bendigo and Adelaide Bank (Global, 2012)
  • REGIONAL WINNERS Macquarie Group (Global, 2012)
  • REGIONAL WINNERS Bank of Queensland (Global, 2012)
2011:
  • REGIONAL WINNERS National Australia Bank (Australasia, 2011)
  • REGIONAL WINNERS Commonwealth Bank of Australia (Australasia, 2011)
  • REGIONAL WINNERS Westpac Banking Corporation (National, 2011)
  • REGIONAL WINNERS ANZ (Australia and New Zealand Banking Group) (National, 2011)
  • REGIONAL WINNERS Suncorp-Metway (Australasia, 2011)
  • REGIONAL WINNERS Macquarie Group (Global, 2011)
  • REGIONAL WINNERS Bendigo and Adelaide Bank (Global, 2011)
  • OVERALL SAFEST National Australia Bank Limited (National, 2011)
  • OVERALL SAFEST Commonwealth Bank of Australia (National, 2011)
  • OVERALL SAFEST Westpac Banking Corporation (National, 2011)
  • OVERALL SAFEST Australia & New Zealand Banking Group (National, 2011)
2010:
  • REGIONAL WINNERS National Australia Bank (Glenn Stevens, 2010)
  • REGIONAL WINNERS Westpac Banking Corporation (Australasia, 2010)
  • REGIONAL WINNERS Commonwealth Bank of Australia (Australasia, 2010)
  • REGIONAL WINNERS Australia & New Zealand Banking Group (Australasia, 2010)
  • REGIONAL WINNERS Suncorp-Metway Ltd. (Global, 2010)
  • REGIONAL WINNERS Macquarie Group (Global, 2010)
  • REGIONAL WINNERS AMP Bank (Global, 2010)
  • REGIONAL WINNERS Bendigo and Adelaide Bank (National, 2010)
  • REGIONAL WINNERS Bank of Queensland (Global, 2010)
  • OVERALL SAFEST National Australia Bank (National, 2010)
  • OVERALL SAFEST Westpac Banking Corporation (National, 2010)
  • OVERALL SAFEST Commonwealth Bank of Australia (Australasia, 2010)
  • OVERALL SAFEST Australia & New Zealand Banking Group (Australasia, 2010)
2009:
  • OVERALL SAFEST National Australia Bank (Australasia, 2009)
  • OVERALL SAFEST Commonwealth Bank of Australia (Australasia, 2009)
  • OVERALL SAFEST Australia & New Zealand Banking Group (Australasia, 2009)
  • OVERALL SAFEST Westpac Banking Corporation (Australasia, 2009)

WORLD'S BEST SUB CUSTODIANS

2012:
  • COUNTRY WINNERS HSBC (Australasia, 2012)
2011:
  • COUNTRY WINNERS HSBC (Global, 2011)
2010:
  • COUNTRY WINNERS HSBC (Global, 2010)
2009:
  • COUNTRY WINNERS National Australia Bank (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2013:
  • COUNTRY WINNERS Macquarie (National, 2013)
2012:
  • COUNTRY WINNERS Macquarie (Global, 2012)
2011:
  • COUNTRY WINNERS UBS Investment Bank (Central and Eastern Europe, 2011)
2010:
  • COUNTRY WINNERS UBS Investment Bank (Global, 2010)
2009:
  • COUNTRY WINNERS Macquarie Bank (National, 2009)

CENTRAL BANKER REPORT CARD

2012:
2011:
  • Grade: A (Central and Eastern Europe, 2011)
2010:
2009:

WORLD'S BIGGEST BANKS

2012:
  • OVERALL BIGGEST National Australia Bank (National, 2012)
  • OVERALL BIGGEST Commonwealth Bank of Australia (National, 2012)
  • OVERALL BIGGEST Westpac (2012)
  • OVERALL BIGGEST ANZ Group (2012)
2011:
  • OVERALL BIGGEST National Australia Bank (National, 2011)
  • OVERALL BIGGEST Commonwealth Bank of Australia (Glenn Stevens, 2011)
  • OVERALL BIGGEST Westpac Banking Corporation (National, 2011)
  • OVERALL BIGGEST Australia & New Zealand Banking Group (ANZ) (Central and Eastern Europe, 2011)
2010:
  • OVERALL BIGGEST National Australia Bank (National, 2010)
  • OVERALL BIGGEST Commonwealth Bank of Australia (National, 2010)
  • OVERALL BIGGEST Westpac (National, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Commonwealth Bank of Australia (Central and Eastern Europe, 2013)
2012:
  • COUNTRY WINNERS Commonwealth Bank of Australia (Global, 2012)
2011:
  • COUNTRY WINNERS Commonwealth Bank of Australia (National, 2011)
2010:
  • COUNTRY WINNERS Commonwealth Bank of Australia (Australasia, 2010)
2009:
  • COUNTRY WINNERS Commonwealth Bank of Australia (Global, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE