it and a negative trade balance.

Ashmore and Cartier Islands
no economic activity

Atlantic Ocean
The Atlantic Ocean provides some of the world's most
heavily trafficked sea routes, between and within the Eastern and
Western Hemispheres. Other economic activity includes the
exploitation of natural resources, e.g., fishing, dredging of
aragonite sands (The Bahamas), and production of crude oil and
natural gas (Caribbean Sea, Gulf of Mexico, and North Sea).

Australia
Australia has an enviable Western-style capitalist
economy, with a per capita GDP on par with the four dominant West
European economies. Rising output in the domestic economy, robust
business and consumer confidence, and rising exports of raw
materials and agricultural products are fueling the economy.
Australia's emphasis on reforms, low inflation, and growing ties
with China are other key factors behind the economy's strength. The
impact of drought, weak foreign demand, and strong import demand
pushed the trade deficit up from $8 billion in 2002, to $18 billion
in 2003, and to $13 billion in 2004. One other concern is the rapid
increase in domestic housing prices, which have raised the prospect
that interest rates will need to be raised to prevent a speculative
bubble.

Austria
Austria, with its well-developed market economy and high
standard of living, is closely tied to other EU economies,
especially Germany's. The economy features up-to-date industrial and
agricultural sectors. Timber is a key industry, 47% of the land area
being forested. Membership in the EU has drawn an influx of foreign
investors attracted by Austria's access to the single European
market and proximity to the new EU economies. Slow growth in Europe
has held the economy to 0.7% growth in 2001, 1.4% in 2002, 0.8% in
2003, and 1.9% in 2004. To meet increased competition from both EU
and Central European countries, particularly the new EU members,
Austria will need to emphasize knowledge-based sectors of the
economy, continue to deregulate the service sector, and encourage
much greater participation in the labor market by its aging
population. The aging phenomenon, together with already high health
and pension costs, poses fundamental problems in tax and welfare
policies.

Azerbaijan
Azerbaijan's number one export is oil. Azerbaijan's oil
production declined through 1997 but has registered an increas