l: Melbourne, Perth, Sydney

Flag description:

blue with the flag of the UK in the upper hoist-side quadrant and a
large seven-pointed star in the lower hoist-side quadrant known as
the Commonwealth or Federation Star, representing the federation of
the colonies of Australia in 1901; the star depicts one point for
each of the six original states and one representing all of
Australia's internal and external territories; on the fly half is a
representation of the Southern Cross constellation in white with one
small five-pointed star and four larger, seven-pointed stars

Economy
Australia

Economy - overview:

Australia has an enviable, strong economy with a per capita GDP on
par with the four dominant West European economies. Robust business
and consumer confidence and high export prices for raw materials and
agricultural products are fueling the economy, particularly in
mining states. Australia's emphasis on reforms, low inflation, a
housing market boom, and growing ties with China have been key
factors behind the economy's 16 solid years of expansion. Drought,
robust import demand, and a strong currency have pushed the trade
deficit up in recent years, while infrastructure bottlenecks and a
tight labor market are constraining growth in export volumes and
stoking inflation. Australia's budget has been in surplus since 2002
due to strong revenue growth.

GDP (purchasing power parity):

$773 billion (2007 est.)

GDP (official exchange rate):

$908.8 billion (2007 est.)

GDP - real growth rate:

4.3% (2007 est.)

GDP - per capita (PPP):

$37,300 (2007 est.)

GDP - composition by sector:

agriculture: 3%
industry: 26.4%
services: 70.6% (2007 est.)

Labor force:

10.95 million (2007 est.)

Labor force - by occupation:

agriculture: 3.6%
industry: 21.2%
services: 75.2% (2004 est.)

Unemployment rate:

4.4% (2007 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: 2%
highest 10%: 25.4% (1994)

Distribution of family income - Gini index:

30.5 (2006)

Investment (gross fixed):

27.3% of GDP (2007 est.)

Budget:

revenues: $321.9 billion
expenditures: $315.8 billion (2007 est.)

Fiscal year:

1 July - 30 June

Public debt:

15.6% of GDP
note: the Commonwealth government eliminated its net debt in 2006,
but continues a gross debt issue to support the market for risk-free
secu