The World Factbook about Australia Australia has a prosperous Western-style capitalist economy, with a per capita GDP at the level of the highly industrialized West European countries. Rich in natural resources, Australia is a major exporter of agricultural products, minerals, metals, and fossil fuels. The government is pushing for increased exports of manufactured goods, but competition in international markets continues to be severe. Australia has suffered from the low growth and high unemployment characterizing the OECD countries in the early 1990s, but the economy has expanded at reasonably steady rates in recent years. In addition to high unemployment, short-term economic problems include a balancing of output growth and inflationary pressures and the stimulation of exports to offset rising imports, especially given the economic crisis in Asia.
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