Country Report Australia October 1996 Main report

Economic structure.

Economic structure Latest available figures Economic Indicators 1991 1992 1993 1994 1995 GDP at market prices(a) A$ bn 383.1 399.3 417.1 443.2 468.6 Real GDP growth % 0.4 2.8 3.0 5.1 2.9 Consumer price inflation % 3.2 1.0 1.8 1.9 4.6 Population m 17.4 17.6 17.7 17.9 18.2 Exports fob US$ bn 42.4 42.8 42.6 47.3 53.1 Imports fob US$ bn 38.8 41.1 42.7 50.6 57.2 Current account(b) US$ bn -11.4 -11.5 -10.5 -17.4 -19.2 Reserves excl gold US$ bn 16.5 11.2 11.1 11.3 11.8 Total external debt US$ bn 141.9 137.5 143.7 163.4 171.9 Exchange rate (av) A$:US$ 1.28 1.36 1.47 1.37 1.35 October 2, 1996 A$1.26:US$1 Origins of gross domestic product 1995© % of total Primary production & mining 7.6 Manufacturing 18.2 Construction 6.3 Commerce 16.9 Transport & communications 9.1 Finance & business services 12.1 Public administration 3.6 Other services 16.6 Ownership of dwellings 9.6 GDP at factor cost incl bank service charges 100.0 Components of gross domestic product 1995© % of total Private consumption 60.6 Government consumption 17.0 Fixed investment 21.8 Stockbuilding 0.7 Exports of goods & services 21.8 Imports of goods & services -21.9 GDP at market prices 100.0 Principal exports fob 1995/96(d) US$ bn Metal ores, minerals & metals 12.1 Coal, coke & petroleum 6.0 Machinery 5.4 Gold 4.3 Cereals & preparations 3.7 Total incl others 57.1 Principal imports cif 1995/96(d) US$ bn Machinery 16.8 Consumer goods 11.7 Transport equipment 9.1 Fuels & lubricants 3.2 Chemicals 2.1 Total incl others 58.6 Main destinations of % of Main origins of % of exports 1995/96(d) total imports 1995/96(d) total Developing countries 45.9 Developing countries 29.1 Japan 21.6 USA 25.0 ASEAN 15.4 EU 22.6 EU 11.1 Japan 13.9 USA 6.0 ASEAN 9.4 (a) Expenditure measure. (b) IMF calculation. © Income measure. (d) Fiscal years ending June.

© 1996 The Economist lntelligence Unit Ltd. All rights reserved
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