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Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia's trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis.
Economy of Australia
Currency Australian Dollar
Fiscal Year 01 July - 30 June
GDP (PPP) $824.3 billion (2009 est.)
GDP (per capita) $38,800 (2009 est.)
Exports $161.5 billion (2009 est.)
Imports $160.9 billion (2009 est.)
Main Industries Mining, Industrial and Transportation Equipment, Food Processing, Chemicals, Steel
Exports - Commodities Coal, Iron Ore, Gold, Meat, Wool, Alumina, Wheat, Machinery and Transport Equipment
Imports - Commodities Machinery and Transport Equipment, Computers and Office Machines, Telecommunication Equipment and Parts; Crude Oil and Petroleum Products
Exports Partners Japan 22.2%, China 14.6%, South Korea 8.2%, India 6.1%, US 5.5%, NZ 4.3%, UK 4.2% (2008)
Imports Partners China 15.4%, US 12.1%, Japan 9.1%, Singapore 7%, Germany 5.1%, Thailand 4.5%, UK 4.4%, Malaysia 4.1% (2008)