Australia is the world’s 15th largest economy; it is a member of the OSCE, the organization for security and cooperation in Europe and the living standards of the population are very high, comparable to Canada and Japan.
Australia is an exporter of raw materials and an importer of finished products.
Data relating to the Australian economy are released by the Australian Bureau of Statistics.
The general outlook: According to the data, despite the poor global situation,
the Australian economy continued to grow in this first phase of 2012, at a slightly faster pace than had been expected. Labor market conditions remain stable and, despite the layoffs of some companies, the unemployment rate remains low.
| Official Name: | Commonwealth of Australia |
| Form of government: | Federal Parliamentary Monarchy |
| Queen: | Elizabeth II |
| Governor General: | Quentin Bryce |
| Prime Minister: | Julia Gillard |
| Currency: | Australian Dollar (AUD) |
