Australia
Description of Australia
Australia, known for its vast landscapes, unique wildlife, and flourishing economy, stands as a prominent player on the global stage. With a rich history shaped by indigenous cultures and European colonization, Australia has evolved into a modern nation with a robust economy driven by industries such as mining, agriculture, and tourism. As an island continent located in the southern hemisphere, Australia faces unique geopolitical challenges while also benefiting from its strategic position in the Asia-Pacific region. This website delves into the macroeconomic factors, geopolitical dynamics, and key statistics that shape Australia's development and its interactions with the rest of the world.
Population And Age Structure
Population, total: Australia's population of 25,649,248 is below the average population of 40,097,746. Australia ranks 55th out of 194 countries in terms of total population.
Population ages 0-14 (% of total population): With 18.54% of its population falling in this age group, Australia is below the average of 27.34%. Australia ranks 140th out of 194 countries in this category.
Population ages 0-14, total: Australia's total population of individuals aged 0-14, which is 4,755,814, is below the average of 10,327,379. Australia ranks 74th out of 194 countries in this demographic.
Population ages 15-64 (% of total population): Australia's percentage of population aged 15-64, at 65.22%, is slightly above the average of 63.44%. Australia ranks 85th out of 194 countries in this age group.
Population ages 15-64, total: With a total of 16,729,640 individuals falling in the 15-64 age bracket, Australia is below the average of 26,003,407. Australia ranks 51st out of 194 countries in this demographic.
Population ages 65 and above (% of total population): Australia's 16.23% of population aged 65 and above is above the average of 9.22%. Australia ranks 37th out of 194 countries in this age group.
Population ages 65 and above, total: Australia's population aged 65 and above totals 4,163,795, which is above the average of 3,766,959. Australia ranks 29th out of 194 countries in this category.
Summary
Australia has a relatively small total population compared to the global average, with a lower percentage of individuals aged 0-14 and a higher percentage of those aged 65 and above. The country has a larger share of individuals in the working-age bracket (15-64) compared to the average. These demographic indicators are important as they highlight Australia's demographic profile, which can impact various aspects such as workforce dynamics, healthcare needs, and social welfare requirements.
Population Miscellaneous
Rural population in Australia is 3,529,080, which is significantly below the average of 18,044,041 in 190 countries, ranking 87 out of 190 countries.
Rural population (% of total population) stands at 13.759%, below the average of 41.158%, placing Australia at rank 164 out of 190 countries.
Urban population in Australia is 22,120,168, slightly below the average of 22,425,747 in 194 countries, placing Australia at rank 40 out of 194 countries.
Urban population (% of total population) is 86.241% in Australia, above the average of 59.691%, ranking at 31 out of 194 countries.
The Age dependency ratio (% of working-age population) in Australia is 53.316%, below the average of 59.219%, placing Australia at rank 110 out of 194 countries.
Australia has a crude Birth rate of 11.5 per 1,000 people, lower than the average of 19.384, ranking 136 out of 192 countries.
The Death rate in Australia is 6.3 per 1,000 people, slightly below the average of 8.214 in 192 countries, placing Australia at rank 142 out of 192 countries.
The Fertility rate in Australia is 1.581 births per woman, lower than the average of 2.603, ranking 141 out of 190 countries.
Summary
Australia has a relatively low rural population and a high urban population compared to global averages, indicating a strong trend towards urbanization. The country also exhibits a lower age dependency ratio and fertility rate, which may have implications for future workforce dynamics and demographic challenges. These indicators are crucial for policymakers and businesses to understand as they can impact labor supply, healthcare needs, and overall economic growth strategies in Australia.
Military
Analysis of Key Military Statistics for Australia:
1. Military Expenditure (current USD): Australia's military expenditure is $27,300,894,700.62, which is above the average of $12,904,993,617.17. This ranks Australia 12th out of 149 countries in this dataset.
2. Military Expenditure (% of GDP): Australia's military expenditure as a percentage of GDP is 2.01%, slightly higher than the average of 1.90%. Australia ranks 47th out of 148 countries in this category.
3. Arms Imports (SIPRI trend indicator values): Australia's arms imports are $1,655,000,000, significantly higher than the average of $205,522,123.89. Australia ranks 3rd out of 113 countries.
4. Arms Exports (SIPRI trend indicator values): Australia's arms exports amount to $413,000,000, lower than the average of $705,705,882.35. Australia is ranked 11th out of 34 countries for arms exports.
5. Armed Forces Personnel, Total: Australia has 60,000 armed forces personnel, lower than the average of 165,908.54. This places Australia 64th out of 164 countries for total personnel.
6. Armed Forces Personnel (% of Total Labor Force): Australia's armed forces personnel as a percentage of the total labor force is 0.44%, below the average of 1.28%. Australia ranks 120th out of 164 countries in this metric.
Summary
Australia's military expenditure is significantly above average, ranking 12th globally, while its arms imports are also well above average, placing it 3rd in the dataset. However, Australia's armed forces personnel numbers are below average, with the country ranking 64th for total personnel. The low percentage of armed forces personnel in the total labor force, ranking 120th, indicates a relatively smaller military presence compared to other countries. These statistics are important as they reflect Australia's significant investment in defense capabilities despite a relatively smaller military personnel count, showcasing a focus on technological capabilities and defense equipment procurement over manpower.
Natural Resources
Analysis of Key Stats for Australia:
- Forest area (sq. km): Australia's forest area is 1,340,051 sq. km, significantly above the average of
211,606. Australia ranks 6 out of 191 countries in this attribute.
- Land area (sq. km): With a land area of 7,692,020 sq. km, Australia exceeds the average of 665,166 sq.
km. It holds the 6th rank out of 194 countries.
- Surface area (sq. km): Australia's surface area is 7,741,220 sq. km, well above the average of 689,780
sq. km. The country ranks 6 out of 194.
- Arable land (hectares): Australia's arable land is 30,644,000 hectares, above the average of 7,329,543
hectares. It ranks 11 out of 190 countries.
- Land under cereal production (hectares): Australia has 16,123,658 hectares of land under cereal
production, surpassing the average of 4,206,012 hectares. It holds the 8th rank out of 174 countries.
- Average precipitation in depth (mm per year): Australia receives an average precipitation of 534 mm per
year, below the average of 1,157 mm. It ranks 138 out of 178 countries.
- Renewable internal freshwater resources, total (billion cubic meters): Australia's total renewable
internal freshwater resources are 492 billion cubic meters, exceeding the average of 240. It ranks 16 out
of 178 countries in this attribute.
Summary
Australia shows remarkable strength in terms of its vast forest area, expansive land area, and significant arable land and land under cereal production, ranking impressively in global comparison. However, the country experiences lower-than-average precipitation levels. The abundance of natural resources, particularly in land and freshwater, underscores Australia's potential for agricultural development and sustainability, but the challenge of lower precipitation levels may pose a risk to agricultural productivity and water availability in the long term.
Resource Rents
1. Total natural resources rents (% of GDP): Australia's value is 6.09% which is above the average of 4.63%. This places Australia at rank 43 out of 175 countries in the dataset.
2. Coal rents (% of GDP): Australia's value is 0.54%, slightly above the average of 0.40%. This puts Australia at rank 8 out of 65 countries included in the data.
3. Forest rents (% of GDP): Australia's value is 0.15% which is below the average of 1.53%. Australia ranks 104 out of 174 countries for this attribute.
4. Oil rents (% of GDP): Australia's value is 0.11%, significantly lower than the average of 2.51%. Australia is ranked 68 out of 117 countries in this dataset.
5. Natural gas rents (% of GDP): Australia's value is 1.21%, slightly below the average of 1.25%. Australia ranks 22 out of 96 countries for natural gas rents.
6. Mineral rents (% of GDP): Australia's value is 4.09%, well above the average of 1.23%. This places Australia at rank 10 out of 86 countries in the dataset.
Summary
Australia demonstrates a strong economic reliance on natural resources, with above-average values in total natural resources rents, coal rents, natural gas rents, and mineral rents. However, the country falls below the average in forest rents and significantly lower in oil rents. These statistics are crucial as they showcase Australia's economic structure and emphasize the importance of diversification to minimize vulnerability to fluctuations in specific resource sectors.
Commodities
Cereal production in Australia is 26,612,704.79 metric tons, which is higher than the average of 17,249,945.93 metric tons. Australia ranks 24th out of 174 countries in this category.
Australia's aquaculture production is 102,674.89 metric tons, significantly below the average of 679,642.92 metric tons. Australia ranks 38th out of 180 countries in this aspect.
For capture fisheries production, Australia contributes 176,602.57 metric tons, less than the average of 467,453.06 metric tons. This places Australia at the 63rd position out of 190 countries.
As for total fisheries production, Australia's 279,277.46 metric tons is below the average of 1,153,914.85 metric tons. Australia ranks 48th out of 182 countries in this category.
Regarding fertilizer consumption per hectare of arable land, Australia's value of 84.29 kilograms is lower than the average of 159.04 kilograms. Australia is ranked 100th out of 187 countries in this metric.
Summary
Australia demonstrates strong performance in cereal production, ranking 24th globally, but lags behind in aquaculture, capture fisheries, and total fisheries production, ranking 38th, 63rd, and 48th respectively. The country also falls below the global average in fertilizer consumption per hectare of arable land, ranking 100th. These indicators are crucial for assessing Australia's food security, economic development, and environmental sustainability as they reflect the country's agricultural productivity, natural resource utilization, and efficiency in land management.
Intellectual Property
Industrial design applications, nonresident, by count: Australia's value of 4695 is significantly above the attribute average of 1415.83. This places Australia at rank 11 out of 112 countries.
Industrial design applications, resident, by count: Australia's value of 2664 is below the attribute average of 9799.58. This places Australia at rank 19 out of 113 countries.
Patent applications, nonresidents: Australia's value of 26926 is well above the attribute average of 6538.40. This places Australia at rank 7 out of 129 countries.
Patent applications, residents: Australia's value of 2368 is below the attribute average of 19037.56. This places Australia at rank 17 out of 117 countries.
Trademark applications, nonresident, by count: Australia's value of 59515 is significantly above the attribute average of 15878.93. This places Australia at rank 6 out of 130 countries.
Trademark applications, resident, by count: Australia's value of 89988 is below the attribute average of 111055.78. This places Australia at rank 15 out of 129 countries.
Scientific and technical journal articles: Australia's value of 60890.77 is well above the attribute average of 15103.76. This places Australia at rank 14 out of 192 countries.
Charges for the use of intellectual property, payments (BoP, current US$): Australia's value of 3594025169.72 is above the attribute average of 3218843494.39. This places Australia at rank 22 out of 143 countries.
Charges for the use of intellectual property, receipts (BoP, current US$): Australia's value of 878446404.07 is below the attribute average of 3191687117.58. This places Australia at rank 27 out of 122 countries.
Summary
Australia excels in industrial design applications by nonresidents and trademark applications by nonresidents, ranking 11th and 6th respectively out of a large number of countries. However, Australia lags behind in patent applications by residents and charges for the use of intellectual property receipts, ranking 17th and 27th respectively. These indicators are important as they reflect Australia's attractiveness for foreign innovation and investment, but also highlight areas where domestic innovation and intellectual property utilization can be improved.
Broad Economy Attributes
In terms of GDP (current US$), Australia's value is 1330381544909.3, which is significantly above the average of 442870224838.6818. Australia is ranked 13 out of 189 countries in this metric.
For GDP per capita (current US$), Australia's value of 51868.25 exceeds the average of 15462.11. Australia holds the 15th position out of 190 countries in this category.
Regarding GNI (current US$), Australia's value is 1300336316181.45, well above the average of 452040815370.6972. Australia ranks 13 out of 185 countries for this measure.
For GNI per capita, PPP (current international $), Australia's value of 54064.08 is notably higher than the average of 21251.89. Australia is ranked 18 out of 181 countries in this aspect.
Summary
Australia performs exceptionally well across key macroeconomic indicators such as GDP, GDP per capita, GNI, and GNI per capita, ranking among the top 15-18 countries globally in each category. These strong economic fundamentals signify Australia's robust economic development, high standard of living, and significant contribution to the global economy. They also highlight Australia's ability to attract investments, foster innovation, and provide a high quality of life for its citizens, positioning the country as a competitive player on the world stage.
Broad Value Added
1. Gross value added at basic prices (GVA) (current US$): Australia's GVA is $1,246,016,929,098.76, ranking 12th out of 176 countries. This value is significantly higher than the average GVA of $360,070,943,595.12.
2. Agriculture, forestry, and fishing, value added (% of GDP): Australia's value added in this sector is 2.01% of GDP, ranking 146th out of 182 countries. This value is below the average of 10.86%.
3. Agriculture, forestry, and fishing, value added (current US$): Australia's value added in this sector is $26,731,002,694.15, ranking 26th out of 182 countries. The country performs above average in this aspect.
4. Services, value added (% of GDP): Australia's value added in services is 66.26% of GDP, ranking 39th out of 183 countries. This value is higher than the average of 56.72%.
5. Services, value added (current US$): Australia's value added in services is $881,551,948,012.77, ranking 12th out of 183 countries. The country outperforms the average in this category.
6. Industry (including construction), value added (current US$): Australia's value added in industry is $337,733,978,391.84, ranking 14th out of 183 countries. Australia exceeds the average value added in this sector.
Summary
Australia demonstrates a robust economy with a significant Gross Value Added (GVA) at $1.25 trillion, ranking 12th globally. While the country's agricultural sector contributes a lower percentage to GDP compared to the average, Australia excels in the services and industry sectors, ranking above average in both value added in current US dollars. These indicators highlight Australia's diversified economy with strong performances in key sectors, showcasing resilience and potential for further growth and development.
Manufacturing Value Added
1. Manufacturing, value added (current US$): Australia's value of $74,768,510,294.28 is slightly below the average of $76,207,179,589.66. Australia ranks 26 out of 173 countries in this attribute data.
2. Manufacturing, value added (% of GDP): Australia's value of 5.62% is below the average of 11.90%. Australia is ranked 141 out of 173 countries in this attribute data.
3. Medium and high-tech manufacturing value added (% manufacturing value added): Australia's value of 27.42% is above the average of 24.49%. Australia is ranked 59 out of 149 countries in this attribute data.
4. Chemicals (% of value added in manufacturing): Australia's value of 8.73% is below the average of 11.56%. Australia is ranked 51 out of 89 countries in this attribute data.
5. Food, beverages and tobacco (% of value added in manufacturing): Australia's value of 26.18% is above the average of 24.51%. Australia is ranked 31 out of 92 countries in this attribute data.
6. Machinery and transport equipment (% of value added in manufacturing): Australia's value of 19.04% is above the average of 16.85%. Australia is ranked 37 out of 93 countries in this attribute data.
7. Textiles and clothing (% of value added in manufacturing): Australia's value of 2.17% is below the average of 6.33%. Australia is ranked 58 out of 93 countries in this attribute data.
8. Other manufacturing (% of value added in manufacturing): Australia's value of 43.88% is above the average of 42.13%. Australia is ranked 40 out of 94 countries in this attribute data.
Summary
Australia's manufacturing sector exhibits mixed performance across various indicators: while its overall manufacturing value added is slightly below the average, it excels in high-tech manufacturing and food-related industries. However, it lags behind in chemicals and textiles. These findings are crucial as they provide insights into Australia's industrial strengths and weaknesses, highlighting areas where there may be opportunities for growth or improvement in order to enhance the country's overall economic competitiveness.
Money
1. Inflation, consumer prices (annual %): Australia's inflation rate is 0.85%, which is significantly below the average of 8.26%. With a rank of 110 out of 165 countries, Australia shows relatively low inflation compared to its global peers.
2. Inflation, GDP deflator (annual %): Australia's GDP deflator inflation stands at 2.11%, below the average of 6.90%. Ranked 89 out of 188 countries, Australia's performance indicates modest inflationary pressures compared to other nations.
3. Broad money growth (annual %): Australia's broad money growth rate is 13.67%, slightly below the average of 18.03%. Ranked 69 out of 139 countries, Australia's monetary expansion is moderate compared to its counterparts.
4. Broad money (% of GDP): Australia's broad money as a percentage of GDP is 137.12%, significantly above the average of 71.75%. With a rank of 9 out of 139 countries, Australia exhibits a high level of broad money relative to its economy size.
5. Broad money to total reserves ratio: Australia's ratio of broad money to total reserves is 42.88, much higher than the average of 5.17. Ranked 2 out of 126 countries, Australia shows a strong position in terms of reserves coverage for its broad money.
Summary
Australia demonstrates below-average inflation rates, moderate broad money growth, but high levels of broad money relative to its GDP and strong reserves coverage for broad money. These indicators suggest that Australia's economy is experiencing stable inflationary pressures, prudent monetary expansion, and strong financial reserves management, contributing to economic stability and resilience against external shocks.
Consumption Expenditure
Final consumption expenditure (current US$): Australia's final consumption expenditure is $983,724,495,576.004, which is significantly above the average of $381,630,252,515.3805. Australia ranks 14th out of 159 countries included in the data.
Final consumption expenditure (% of GDP): Australia's final consumption expenditure as a percentage of GDP is 73.94%, below the average of 82.37%. Australia ranks 114th out of 159 countries included in the data.
General government final consumption expenditure (current US$): Australia's general government final consumption expenditure is $290,852,159,643.265, well above the average of $93,676,578,238.03342. Australia ranks 13th out of 158 countries included in the data.
General government final consumption expenditure (% of GDP): Australia's general government final consumption expenditure as a percentage of GDP is 21.86%, higher than the average of 18.71%. Australia ranks 42nd out of 158 countries included in the data.
Household and NPISHs Final consumption expenditure (current US$): Australia's household and NPISHs final consumption expenditure is $692,872,335,932.739, significantly above the average of $290,127,571,157.693. Australia ranks 15th out of 158 countries included in the data.
Households and NPISHs final consumption expenditure (% of GDP): Australia's household and NPISHs final consumption expenditure as a percentage of GDP is 52.08%, below the average of 63.68%. Australia ranks 119th out of 158 countries included in the data.
Summary
Australia demonstrates strong final consumption expenditure levels both in absolute terms and as a percentage of GDP, ranking relatively high compared to other countries in the dataset. The country's high general government final consumption expenditure signifies robust public sector spending, while its lower household and NPISHs final consumption expenditure as a percentage of GDP suggests potential room for private consumption growth. These indicators are important as they reflect the overall economic activity, government expenditure priorities, and the balance between public and private sector contributions to the economy.
Equities
- Listed domestic companies, total: Australia has 1902 listed domestic companies, which is significantly
above the average of 636.625. This places Australia at rank 8 out of 72 countries in the dataset.
- Stocks traded, total value (current US$): Australia's total stock value is $1,226,164,220,000, slightly
below the average of $1,379,501,951,820.91. Australia ranks 10th out of 71 countries.
- Stocks traded, total value (% of GDP): Australia's stock value as a percentage of GDP is 92.17%, much
higher than the average of 31.65%. This places Australia at rank 10 out of 71 countries.
- Market capitalization of listed domestic companies (current US$): Australia's market capitalization is
$1,720,556,180,000, surpassing the average of $1,196,037,851,618.88. Australia ranks 10th out of 73
countries.
- Market capitalization of listed domestic companies (% of GDP): Australia's market capitalization as a
percentage of GDP is 129.33%, above the average of 71.24%. Australia ranks 12th out of 73 countries.
- S&P Global Equity Indices (annual % change): Australia's equity indices have an annual growth rate of
9.71%, well above the average of 2.06%. This ranks Australia at 23 out of 79 countries.
Summary
Australia stands out in the dataset for having a large number of listed domestic companies, a high stock value, significant market capitalization, and strong equity index growth. These indicators reflect a robust and dynamic economy with a thriving stock market. The high values compared to the averages signify a strong investor confidence in Australia's market stability and growth potential, making it an attractive destination for domestic and foreign investment.
Investment
Foreign direct investment, net (BoP, current US$): Australia's value is -8025123712.33, significantly below the average of -1615235980.51. Australia ranks 155 out of 169 countries in this attribute.
Foreign direct investment, net inflows (BoP, current US$): Australia's value is 15841437866.44, well above the average of 5749271080.15. Australia ranks 20 out of 182 countries in this attribute.
Foreign direct investment, net inflows (% of GDP): Australia's value is 1.19, below the average of 2.61. Australia ranks 111 out of 178 countries in this attribute.
Foreign direct investment, net outflows (BoP, current US$): Australia's value is 7816314154.11, above the average of 5707991116.07. Australia ranks 18 out of 156 countries in this attribute.
Foreign direct investment, net outflows (% of GDP): Australia's value is 0.59, below the average of 1.00. Australia ranks 49 out of 155 countries in this attribute.
Portfolio Investment, net (BoP, current US$): Australia's value is 2402822060.01, above the average of 679559169.57. Australia ranks 32 out of 159 countries in this attribute.
Portfolio equity, net inflows (BoP, current US$): Australia's value is 22973920264.71, significantly above the average of 9197145994.70. Australia ranks 7 out of 125 countries in this attribute.
Summary
Australia's performance in key macroeconomic indicators such as foreign direct investment, net inflows, and portfolio equity showcases its attractiveness to foreign investors. Despite a below-average ranking in some aspects like net outflows as a percentage of GDP, Australia stands out with high values and top rankings in areas such as net inflows and portfolio equity. These indicators are crucial as they reflect the country's ability to attract investments, stimulate economic growth, and participate actively in the global financial market.
Broad Trade Attributes
Trade (% of GDP): Australia's trade as a percentage of GDP is 44.14%, which is below the average of 82.34%. Australia ranks 131 out of 163 countries in this aspect.
Merchandise trade (% of GDP): Australia's merchandise trade as a percentage of GDP is 34.78%, below the average of 60.01%. Australia ranks 154 out of 186 countries in this category.
Trade in services (% of GDP): Australia's trade in services as a percentage of GDP stands at 6.72%, which is below the average of 24.63%. Australia ranks 147 out of 171 countries for this metric.
External balance on goods and services (current US$): Australia's external balance on goods and services is $50,444,075,452.27, significantly higher than the average of $3,405,509,011.13. Australia ranks 10 out of 163 countries in this measure.
External balance on goods and services (% of GDP): Australia's external balance on goods and services as a percentage of GDP is 3.79%, above the average of -5.97%. Australia ranks 33 out of 163 countries for this statistic.
Summary
Australia exhibits a lower than average trade integration with a trade percentage of 44.14% of GDP, which ranks it 131st globally. However, the country excels in its external balance on goods and services, with a surplus of $50,444,075,452.27, ranking 10th worldwide. These statistics are crucial as they indicate Australia's strong position in trade surplus despite its lower trade percentages, showcasing its ability to maintain a positive external balance.
Net Trade
Australia's current account balance is $31,376,247,342.77, which is significantly above the average of $1,443,864,831.49. Australia ranks 11 out of 170 countries in this attribute.
The current account balance as a percentage of GDP for Australia is 2.36%, slightly above the average of -2.36%. Australia holds the 43rd position out of 170 countries in this metric.
Australia's net trade in goods and services stands at $49,031,031,339.29, far surpassing the average of $2,604,730,003.57. It is ranked 9th out of 171 countries in this category.
The country's net primary income is -$16,283,461,751.39, significantly below the average of -$903,807,529.74. Australia stands at the 157th position out of 170 countries for this indicator.
Australia's net secondary income is -$1,370,592,186.61, which is notably lower than the average of -$269,227,340.40. The country ranks 144th out of 170 nations in this regard.
With a net trade in goods of $39,772,961,843.10, Australia is well ahead of the average of $1,302,831,005.68. It holds the 12th rank out of 171 countries for this metric.
The country's net capital account is -$726,249,535.90, significantly below the average of $136,543,824.05. Australia ranks 151st out of 159 countries in this attribute.
In terms of the net financial account, Australia has a value of $34,962,793,559.31, much higher than the average of -$469,840,994.63. It is ranked 10th out of 170 countries for this specific attribute.
Summary
Australia's macroeconomic indicators paint a picture of a strong and robust economy. With a current account balance, net trade in goods and services, net trade in goods, and net financial account all well above global averages, Australia ranks impressively high in these key metrics. However, the country's position at 157th for net primary income highlights a significant area for improvement, indicating a potential vulnerability in income generation and resource management that could impact long-term economic stability.
These findings are important as they showcase Australia's economic strength and resilience in global trade, but also underline the importance of addressing issues related to primary income generation for a more balanced and sustainable economic growth trajectory.
Broad Export Attributes
- Exports of goods, services and primary income (BoP, current US$): Australia's value of 342674380648.653
is significantly above the average of 146238908936.29623. Australia ranks 20th out of 170 countries in
this attribute.
- Exports of goods and services (BoP, current US$): Australia's value of 300810497192.664 is notably above
the average of 122938540059.78171. Australia ranks 20th out of 170 countries in this attribute.
- Exports of goods and services (current US$): Australia's value of 318857503698.674 is higher than the
average of 129596864610.19212. Australia ranks 20th out of 163 countries in this attribute.
- Exports of goods and services (% of GDP): Australia's value of 23.9673727374511 is below the average of
38.187880572633766. Australia ranks 109th out of 163 countries in this attribute.
- Goods exports (BoP, current US$): Australia's value of 251511952882.235 is significantly above the
average of 93310581697.38683. Australia ranks 21st out of 171 countries in this attribute.
- International tourism, receipts (% of total exports): Australia's value of 8.72110522898327 is below the
average of 9.74392977621542. Australia ranks 35th out of 120 countries in this attribute.
- ICT goods exports (% of total goods exports): Australia's value of 1.0387940943 is lower than the
average of 3.80622831972183. Australia ranks 61st out of 142 countries in this attribute.
Summary
Australia demonstrates robust performance in various export indicators such as total exports, goods exports, and international tourism receipts. However, its exports as a percentage of GDP are comparatively lower, ranking 109th globally. This suggests that while Australia excels in export volume, it may need to focus on increasing the contribution of exports to its overall GDP to enhance economic resilience.
Merchandise Exports
Merchandise exports in Australia amount to $250.82 billion, which is significantly above the average of
$89.54 billion, ranking Australia 21st out of 187 countries in the dataset.
Agricultural raw materials exports account for 1.43% of Australia's merchandise exports, below the average
of 2.97%, placing Australia 64th out of 151 countries.
Food exports contribute to 11.35% of Australia's merchandise exports, falling below the average of 24.06%,
with Australia ranked 97th out of 152 countries.
Fuel exports represent 21.31% of Australia's merchandise exports, higher than the average of 13.70%,
ranking Australia 29th out of 147 countries.
Ores and metals exports make up 40.70% of Australia's merchandise exports, significantly surpassing the
average of 9.10%, placing Australia 9th out of 152 countries.
The residual category in merchandise exports for Australia is 2.28%, below the average of 3.20%, with
Australia ranked 39th out of 166 countries in the dataset.
Summary
Australia's merchandise exports showcase a strong performance overall, with significant contributions from fuel and ores/metal exports. However, the country lags behind in agricultural raw materials and food exports compared to the global average. This indicates a potential area for diversification and development in Australia's export sector to capitalize on emerging market trends and enhance overall trade resilience.
Technology Exports
Analysis of key statistics for Australia:
1. Manufactures exports (% of merchandise exports): Australia's value is 10.53%, which is below the average of 42.62%. This places Australia at rank 123 out of 152 countries.
2. High-technology exports (current US$): Australia's value is $5,589,428,537, significantly below the average of $16,655,934,078.80. Australia ranks 34 out of 151 countries.
3. High-technology exports (% of manufactured exports): Australia's value is 21.47%, higher than the average of 10.15%. This places Australia at rank 23 out of 150 countries.
4. Medium and high-tech exports (% manufactured exports): Australia's value is 15.33%, below the average of 34.29%. Australia is ranked 105 out of 149 countries in this aspect.
Summary
Australia has a below-average performance in terms of manufactures exports and high-technology exports, ranking 123rd and 34th out of a pool of 152 and 151 countries, respectively. However, Australia performs relatively well in the percentage of high-technology exports compared to manufactured exports, ranking 23rd. The country lags in the percentage of medium and high-tech exports compared to manufactured exports, ranking 105th.
These statistics are crucial as they highlight Australia's strengths and weaknesses in its export sector, indicating areas that may need improvement to enhance economic growth and competitiveness in the global market.
Service Exports
Analysis of Key Service Export Attributes for Australia:
1. Service exports (BoP, current US$): Australia's value is $49,298,544,310.43, which is above the average of $28,917,292,503.82. Australia ranks 23 out of 171 countries in this attribute.
2. ICT service exports (BoP, current US$): Australia's value is $3,547,295,096.98, below the average of $4,578,501,153.77. Australia ranks 31 out of 166 countries in this attribute.
3. ICT service exports (% of service exports, BoP): Australia's value is 7.20%, below the average of 11.75%. Australia ranks 96 out of 166 countries in this attribute.
4. Communications, computer, etc. (% of service exports, BoP): Australia's value is 34.14%, below the average of 45.85%. Australia ranks 112 out of 169 countries in this attribute.
5. Transport services (% of service exports, BoP): Australia's value is 6.50%, below the average of 21.80%. Australia ranks 135 out of 169 countries in this attribute.
6. Travel services (% of service exports, BoP): Australia's value is 52.06%, above the average of 26.40%. Australia ranks 27 out of 167 countries in this attribute.
7. Insurance and financial services (% of service exports, BoP): Australia's value is 7.29%, above the average of 6.46%. Australia ranks 46 out of 161 countries in this attribute.
Summary
Australia boasts a strong overall service export industry with a total value of $49,298,544,310.43, surpassing the global average. However, in specific sectors such as ICT services and transport services, Australia falls below the global average in terms of export value percentages. This indicates areas where Australia may need to focus on improving its competitiveness and market share in the global service export market.
These findings are crucial for policymakers and business leaders as they highlight Australia's relative strengths and weaknesses in key service export sectors. By understanding where Australia ranks compared to global averages, stakeholders can devise strategic plans to enhance the country's export capabilities, capitalize on its strengths, and address any shortcomings to maintain a competitive position in the international market.
Commercial Service Exports
Australia's commercial service exports amounted to $48,708,641,801.39, ranking 23 out of 171 countries. This value exceeds the attribute average by $20,200,423,398.59.
Travel services contribute significantly to Australia's commercial service exports, accounting for 52.69%. This percentage is notably higher than the attribute average of 27.89%. Australia ranks 28 out of 167 countries for this indicator.
Australia's Computer, communications, and other services as a percentage of commercial service exports is 33.34%, below the attribute average of 42.44%. Australia ranks 106 out of 169 countries for this metric.
Insurance and financial services represent 7.38% of Australia's commercial service exports, slightly above the attribute average of 6.97%. Australia ranks 49 out of 161 countries in this category.
Transport services account for 6.58% of Australia's commercial service exports, lower than the attribute average of 23.37%. Australia ranks 137 out of 169 countries for this aspect.
Summary
Australia excels in commercial service exports, with a total value surpassing the global average by a significant margin. The country's strength lies in travel services, where it outperforms most nations. However, there is a relative weakness in computer, communications, and other services exports, as well as transport services. These findings are crucial as they highlight Australia's competitive edge in tourism-related exports but also signal areas that may require further development to diversify the export base and improve overall competitiveness in the global market.
Broad Import Attributes
1. Imports of goods and services (current US$): Australia's value of $268.41 billion is significantly above the average of $126.19 billion. Australia ranks 21st out of 163 countries in this statistic.
2. Imports of goods and services (% of GDP): Australia's percentage of 20.18% is below the average of 44.15%. With a rank of 144 out of 163 countries, Australia has a lower percentage compared to most nations.
3. International tourism, expenditures (% of total imports): Australia's expenditure percentage of 3.04% is below the average of 3.98%. Ranking 66th out of 131 countries, Australia spends a slightly lower proportion on international tourism compared to the average.
4. ICT goods imports (% total goods imports): Australia's import percentage of ICT goods, at 10.98%, is higher than the average of 6.85%. Australia ranks 18th out of 143 countries in this category.
5. Goods imports (BoP, current US$): Australia's goods import value of $211.74 billion is notably above the average of $92.01 billion. With a rank of 20th out of 171 countries, Australia's goods import level is relatively high.
6. Imports of goods and services (BoP, current US$): Australia's value of $251.78 billion is significantly above the average of $120.32 billion. Australia ranks 21st out of 170 countries in this statistic.
7. Imports of goods, services and primary income (BoP, current US$): Australia's value of $309.93 billion is substantially higher than the average of $144.51 billion. With a rank of 21st out of 170 countries, Australia's total imports in this category are comparatively large.
Summary
Australia stands out in terms of import values, ranking relatively high among countries in various import categories such as goods and services, ICT goods, and total imports. However, Australia's import percentages relative to its GDP and total imports expenditure on international tourism are below average. These indicators are crucial as they reflect Australia's economic openness, dependency on foreign goods and services, and its engagement in the global market.
Merchandise Imports
1. Merchandise imports (current US$): Australia's merchandise imports are $211,824,000,000, which is significantly higher than the average of $89,385,605,263. The country ranks 22nd out of 190 countries in this attribute.
2. Manufactures imports (% of merchandise imports): Australia's imports of manufactures account for 77.47% of its total merchandise imports, which is above the average of 66.76%. Australia ranks 22nd out of 152 countries in this category.
3. Agricultural raw materials imports (% of merchandise imports): Australia's imports of agricultural raw materials are 0.67% of its total merchandise imports, below the average of 1.27%. The country ranks 122nd out of 152 countries included in this data.
4. Food imports (% of merchandise imports): Australia's food imports constitute 7.60% of its total merchandise imports, lower than the average of 15.89%. Australia holds the 140th rank out of 152 countries in this aspect.
5. Fuel imports (% of merchandise imports): Australia's fuel imports represent 8.18% of its merchandise imports, which is below the average of 11.38%. The country ranks 100th out of 152 nations in this category.
6. Ores and metals imports (% of merchandise imports): Australia's imports of ores and metals make up 1.62% of its total merchandise imports, less than the average of 2.57%. Australia is ranked 77th out of 152 countries in this attribute.
7. Merchandise imports by the reporting economy, residual (% of total merchandise imports): Australia's residual imports account for 1.01% of its total merchandise imports, lower than the average of 2.51%. The country holds the 61st rank out of 180 countries included in this data set.
Summary
Australia's key macroeconomic indicators show that the country has a high value of merchandise imports, particularly in manufactures. However, its imports of agricultural raw materials, food, fuel, ores, and metals are below average. These indicators are crucial as they reflect Australia's trade dependencies, economic priorities, and resource sourcing strategies, impacting its economic resilience and global competitiveness.
Service Imports
Australia's service imports amount to $40,040,474,814.24, ranking 27th out of 171 countries. This value is higher than the average service imports of $27,615,356,170.47.
The percentage of communications, computer, etc. in Australia's service imports is 52.42%, placing it at 66th out of 169 countries. This figure exceeds the average of 44.40%.
Australia's transport services as a percentage of service imports is 23.05%, below the average of 32.90%. This places Australia at 113th out of 169 countries.
Travel services represent 18.26% of Australia's service imports, ranking 45th out of 169 countries. This percentage is higher than the average of 14.14%.
The contribution of insurance and financial services to Australia's service imports is 6.28%, below the average of 8.53%. Australia ranks 89th out of 169 countries in this category.
Summary
Australia's service imports are significant, ranking 27th globally, surpassing the average value. The country relies heavily on communication and computer services in its imports, exceeding the global average in this sector. However, Australia's lower percentage of transport services in its imports indicates potential room for growth in this area. The higher proportion of travel services and lower contribution of insurance and financial services compared to the global average suggest a certain specialization in the types of services imported.
These findings are important as they shed light on Australia's dependencies and strengths in the service sector. Understanding the composition of service imports can help policymakers identify areas of investment or potential vulnerabilities in the economy. Moreover, comparing these figures to global averages provides insights into Australia's competitiveness and specialization in different service categories, informing strategic decision-making for economic development and trade policies.
Commercial Service Imports
Australia's commercial service imports amount to $38.84 billion, ranking 27th out of 171 countries. This is $11.74 billion above the average of $27.10 billion.
In terms of computer, communications, and other services as a percentage of commercial service imports, Australia stands at 50.95%, ranking 66th out of 169 countries. This percentage is 9.24% higher than the average of 41.71%.
For insurance and financial services as a percentage of commercial service imports, Australia's 6.47% is below the average of 8.85%. This places Australia at the 89th rank out of 169 countries.
Australia's transport services as a percentage of commercial service imports stand at 23.76%, below the average of 34.71%. This places Australia at the 113th rank out of 169 countries.
Australia's travel services as a percentage of commercial service imports is 18.82%, which is above the average of 14.73%. This places Australia at the 48th rank out of 169 countries.
Summary
Australia has a significant amount of commercial service imports compared to other countries, ranking 27th out of 171 nations. The country shows a strong reliance on computer, communications, and other services, as well as travel services, surpassing global averages. However, Australia lags behind in insurance and financial services and transport services, highlighting potential areas for improvement to enhance its overall economic competitiveness and efficiency in international trade.
Infrastructure
1. Railways, passengers carried (million passenger-km): Australia's value of 15,053.004 million passenger-km is significantly below the attribute average of 32,281.917 million passenger-km. Australia ranks 9th out of 64 countries in this attribute.
2. Railways, goods transported (million ton-km): Australia's value of 447,434.674 million ton-km is well above the attribute average of 119,231.191 million ton-km. Australia ranks 4th out of 62 countries in this attribute.
3. Air transport, freight (million ton-km): Australia's value of 1,316.509 million ton-km is slightly below the attribute average of 1,384.365 million ton-km. Australia ranks 20th out of 126 countries in this attribute.
4. Air transport, registered carrier departures worldwide: Australia's value of 310,837 departures is significantly above the attribute average of 134,365.605 departures. Australia ranks 13th out of 149 countries in this attribute.
5. Air transport, passengers carried: Australia's value of 23,346,254 passengers carried is substantially above the attribute average of 11,848,242.700 passengers carried. Australia ranks 20th out of 149 countries in this attribute.
6. Container port traffic (TEU: 20 foot equivalent units): Australia's value of 8,467,246 TEU is above the attribute average of 6,907,110.268 TEU. Australia ranks 21st out of 110 countries in this attribute.
Summary
Australia performs well in the transportation sector, ranking high globally in both railways goods transported and air transport volumes. This indicates a strong logistical infrastructure supporting the country's trade and economic activities. The ability to efficiently move both passengers and goods domestically and internationally is crucial for fostering economic growth, facilitating trade, and enhancing connectivity with global markets.
Information Technology Infrastructure
1. Secure Internet servers: Australia has 1,022,449 secure internet servers, which is significantly above the average of 458,294. Australia ranks 14 out of 193 countries in this attribute.
2. Secure Internet servers (per 1 million people): Australia has 39,862.73 secure internet servers per 1 million people, exceeding the average of 14,067.17. The country ranks 22 out of 193 in this aspect.
3. Individuals using the Internet (% of population): With 96.39% of its population using the internet, Australia surpasses the average of 64.77%. Australia holds the 10th rank out of 180 countries.
4. Fixed broadband subscriptions: Australia boasts 9,099,619 fixed broadband subscriptions, higher than the average of 6,591,956.35. The country holds the 23rd rank out of 185 countries.
5. Mobile cellular subscriptions: Australia has 27,013,000 mobile cellular subscriptions, below the average of 42,526,463.87. This places Australia at the 48th rank out of 193 countries.
Summary
Australia outperforms global averages in secure internet servers, individuals using the internet, and fixed broadband subscriptions. However, it lags in mobile cellular subscriptions. These indicators are crucial as they reflect Australia's strong digital infrastructure and high internet penetration, which are essential for economic growth, innovation, and connectivity in the modern era.
Energy Consumption
In terms of renewable energy consumption, Australia falls below the global average of 32.18%, with a value of 10.89%. This places Australia at a ranking of 140 out of 191 countries in the dataset.
When it comes to CO2 emissions, Australia's output of 378,996.8 kt exceeds the average of 171,895.94 kt. With this statistic, Australia ranks 16th out of 188 countries included in the data.
Summary
Australia ranks below the global average in renewable energy consumption at 10.89% and exceeds the average CO2 emissions at 378,996.8 kt, placing 140th and 16th respectively in the dataset. These statistics are crucial as they highlight Australia's current energy mix and environmental impact, indicating potential areas for improvement in sustainability efforts and climate change mitigation strategies.
Government Balance Sheet
Australia has a Net acquisition of financial assets (% of GDP) of 4.18%, which is above the average of 2.45%. This places Australia at rank 17 out of 87 countries in the dataset.
In terms of Central government debt, total (% of GDP), Australia's value is 69.22%, below the average of 74.12%. This ranks Australia 30th out of 61 countries.
Australia's Net incurrence of liabilities, total (% of GDP) stands at 8.99%, higher than the average of 7.43%. This places Australia at rank 29 out of 92 countries.
Australia's Reserves and related items (BoP, current US$) is at -16,749,745,109.39, significantly below the average of 1,924,407,186.58. This positions Australia at rank 169 out of 171 countries.
Australia's Total reserves minus gold (current US$) is 39,151,995,864.99, also below the average of 74,221,588,171.61. Australia ranks 41st out of 161 countries in this aspect.
Total reserves (includes gold, current US$) for Australia is 42,544,629,264.99, below the average of 85,708,019,773.47. Australia's rank is 41 out of 161 countries.
Australia's Total reserves in months of imports is 1.65, below the average of 7.10. This places Australia at rank 134 out of 151 countries.
Summary
Australia performs well in terms of net acquisition of financial assets and total reserves minus gold, ranking 17th and 41st respectively out of the countries analyzed. However, it has relatively high central government debt and net incurrence of liabilities, ranking 30th and 29th respectively. Australia's reserves and related items, as well as its total reserves in months of imports, are below average, indicating a potential vulnerability in its external position. These indicators are crucial for assessing Australia's fiscal health, external stability, and capacity to meet its financial obligations.
Government Revenue
Revenue, excluding grants (% of GDP): Australia's value is 25.25% of GDP, slightly below the average of 27.02%. It ranks 61 out of 122 countries in this data set.
Grants and other revenue (% of revenue): Australia's value is 12.12% of revenue, notably below the average of 23.54%. It ranks 77 out of 108 countries in this data set.
Taxes on goods and services (% of revenue): Australia's value is 19.33% of revenue, significantly below the average of 31.82%. It ranks 105 out of 122 countries in this data set.
Taxes on international trade (% of revenue): Australia's value is 3.83% of revenue, below the average of 6.24%. It ranks 50 out of 101 countries in this data set.
Other taxes (% of revenue): Australia's value is 0.20% of revenue, considerably below the average of 2.12%. It ranks 81 out of 106 countries in this data set.
Taxes on income, profits and capital gains (% of revenue): Australia's value is 64.52% of revenue, significantly higher than the average of 24.66%. It ranks 1 out of 119 countries in this data set.
Summary
Australia's revenue composition shows a dependency on taxes on income, profits, and capital gains, comprising 64.52% of revenue, much higher than the average. However, it relies much less on taxes on goods and services, international trade, and other taxes compared to the global average. These indicators are crucial as they reflect Australia's tax structure, economic policies, and revenue sources, highlighting areas of strength and potential vulnerabilities in its fiscal framework.
Taxes
Tax revenue (% of GDP): In Australia, tax revenue accounts for 22.56% of the GDP, which is above the average of 16.72%. Australia ranks 21st out of 123 countries in this attribute.
Customs and other import duties (% of tax revenue): Australia's customs and other import duties as a percentage of tax revenue stand at 4.36%, below the average of 9.01%. Australia is ranked 56th out of 99 countries in this category.
Taxes on income, profits and capital gains (% of total taxes): Australia derives 73.41% of total taxes from income, profits, and capital gains, significantly higher than the average of 38.40%. Australia holds the 5th rank out of 120 countries for this attribute.
Tariff rate, applied, weighted mean, all products (%): The applied tariff rate in Australia is 0.71%, well below the average of 5.21%. Australia is placed 148th out of 153 countries in this aspect.
Summary
Australia demonstrates a strong reliance on income, profits, and capital gains for tax revenue, with 73.41% of total taxes derived from this source, ranking 5th globally. Additionally, the country maintains a low applied tariff rate at 0.71%, positioning 148th globally.
These indicators are crucial as they reflect Australia's tax structure and trade policies. The significant contribution of income-related taxes indicates a stable economic base, while the low tariff rate signals a focus on promoting international trade and market competitiveness.
Government Expenses
Expense (% of GDP): Australia's expense as a percentage of GDP is 30.21%, slightly below the average of 31.69%. This places Australia at rank 63 out of 123 countries.
Compensation of employees (% of expense): Australia allocates 9.96% of expenses to employee compensation, significantly lower than the average of 24.70%. This ranks Australia 111 out of 123 countries.
Goods and services expense (% of expense): Australia spends 9.76% of its expenses on goods and services, which is below the average of 14.77%. Australia holds the 77th position out of 122 countries in this aspect.
Interest payments (% of expense): Australia dedicates 2.96% of expenses to interest payments, notably lower than the average of 6.85%. This places Australia at the 83rd position out of 121 countries.
Other expense (% of expense): Australia's other expenses make up 7.25% of its total expenses, slightly below the average of 8.29%. Australia is ranked 50 out of 120 countries in this category.
Subsidies and other transfers (% of expense): Australia allocates 70.07% of its expenses to subsidies and transfers, significantly higher than the average of 43.29%. This high allocation places Australia at rank 15 out of 121 countries.
Summary
Australia's macroeconomic analysis reveals a prudent fiscal approach with expense as a percentage of GDP below the global average. However, the country's allocation towards compensation of employees is notably lower than average, potentially indicating lower labor costs. The high portion of expenses dedicated to subsidies and transfers showcases Australia's commitment to social welfare, albeit significantly higher than the global average.
These statistics are crucial as they provide insights into Australia's fiscal priorities, competitiveness in labor markets, and social welfare commitments. Understanding these indicators can help policymakers, investors, and analysts assess the country's economic health, sustainability of spending, and potential areas for improvement or efficiency.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Military expenditure (current USD) | 12/149 |
| Arms imports (SIPRI trend indicator values) | 3/113 |
| Forest area (sq. km) | 6/191 |
| Land area (sq. km) | 6/194 |
| Surface area (sq. km) | 6/194 |
| Arable land (hectares) | 11/190 |
| Land under cereal production (hectares) | 8/174 |
| Renewable internal freshwater resources, total (billion cubic meters) | 16/178 |
| Industrial design applications, nonresident, by count | 11/112 |
| Patent applications, nonresidents | 7/129 |
| Trademark applications, nonresident, by count | 6/130 |
| Scientific and technical journal articles | 14/192 |
| GDP (current US$) | 13/189 |
| GDP, PPP (current international $) | 18/181 |
| GDP per capita (current US$) | 15/190 |
| GDP per capita, PPP (current international $) | 18/181 |
| GNI (current US$) | 13/185 |
| GNI, PPP (current international $) | 18/181 |
| Gross value added at basic prices (GVA) (current US$) | 12/176 |
| Services, value added (current US$) | 12/183 |
| Industry (including construction), value added (current US$) | 14/183 |
| Broad money (% of GDP) | 9/139 |
| Broad money to total reserves ratio | 2/126 |
| Final consumption expenditure (current US$) | 14/159 |
| General government final consumption expenditure (current US$) | 13/158 |
| Household and NPISHs Final consumption expenditure (current US$) | 15/158 |
| Portfolio equity, net inflows (BoP, current US$) | 7/125 |
| External balance on goods and services (current US$) | 10/163 |
| Current account balance (BoP, current US$) | 11/170 |
| Net trade in goods and services (BoP, current US$) | 9/171 |
| Net trade in goods (BoP, current US$) | 12/171 |
| Net financial account (BoP, current US$) | 10/170 |
| Ores and metals exports (% of merchandise exports) | 9/152 |
| Railways, goods transported (million ton-km) | 4/62 |
| Air transport, registered carrier departures worldwide | 13/149 |
| Secure Internet servers | 14/193 |
| Individuals using the Internet (% of population) | 10/180 |
| CO2 emissions (kt) | 16/188 |
| Taxes on income, profits and capital gains (% of revenue) | 1/119 |
| Taxes on income, profits and capital gains (% of total taxes) | 5/120 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Foreign direct investment, net (BoP, current US$) | 155/169 |
| Net primary income (BoP, current US$) | 157/170 |
| Net capital account (BoP, current US$) | 151/159 |
| Food imports (% of merchandise imports) | 140/152 |
| Reserves and related items (BoP, current US$) | 169/171 |
| Tariff rate, applied, weighted mean, all products (%) | 148/153 |
| Compensation of employees (% of expense) | 111/123 |