Known as one of the great agricultural, mining and energy producers, Australia has one of the world's most open and varied economies, with a highly educated workforce and an extensive services sector.

Underpinning Australia's strong economy is its open and transparent trade and investment environment, business-friendly regulatory approach and its trade and economic links with emerging economies, particularly in Asia.

Australia's economy is considered one of the strongest, most stable and diverse in the world. In 2015, Australia entered its 25rd year of uninterrupted annual economic growth, averaging 3.3 per cent a year.

Did you know?

The BBC has declared Australia the 'lifestyle super power' of the globe.

The services sector is the largest part of the Australian economy, accounting for around 60 per cent of gross domestic product and four out of five jobs. Australia is an important and growing financial centre, with a sophisticated financial services sector and strong regulation.

A continuing process of reform to further open the economy and strengthen its competitiveness has been a key ingredient of Australia's success.

Australia is a global leader in five significant and diverse sectors: Agribusiness, Education, Tourism, Mining and Wealth Management.

Australia's Globally Significant Industries

Merchandise Exports: Agricultural Products

  • US$38.6 billion, 2014
  • Top 14 exporter in the world
  • Agricultural Product Categories

Foreign Students in Tertiary Education

  • 6.4% of the world's total, 2013
  • Third largest in the world

Merchandise Exports: Fuels and Mining

  • US$153 billion, 2014
  • Top 5 exporters in the world

International Tourism Receipts

  • US$32 billion, 2014
  • 11th largest in the world

Australia's Investment Fund Assets

  • US$1.6 trillion, June 2015
  • Third largest in the world

Source: Austrade, Why Australia Benchmark Report 2016.

Last Updated: 24 August 2016
Stock Exchange market board
Stock Exchange market board (Australian Securities Exchange)

Did you know?

Australia is rated 'triple A' by all three global rating agencies and enjoys levels of net public debt that are among the lowest in the OECD.