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STAT	Australia	Glorioso Islands	HISTORY
Economy > Economy > Overview	The Australian economy has experienced continuous growth and features low unemployment, contained inflation, very low public debt, and a strong and stable financial system. By 2012, Australia had experienced more than 20 years of continued economic growth, averaging 3.5% a year. Demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports. The high Australian dollar has hurt the manufacturing sector, while the services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control. Australia has benefited from a dramatic surge in its terms of trade in recent years, stemming from rising global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the World Trade Organization, APEC, the G20, and other trade forums. Australia has bilateral free trade agreements (FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia, Japan, and the Republic of Korea, as well as with its Pacific neighbors and the Gulf Cooperation Council countries, and is also working on the Trans-Pacific Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.	no economic activity
Geography > Area > Comparative	slightly smaller than the US contiguous 48 states	about eight times the size of The Mall in Washington, DC
Geography > Area > Comparative to US places	slightly smaller than the US contiguous 48 states	about eight times the size of The Mall in Washington, DC
Geography > Area > Land	7.62 million sq km Ranked 7th. 1523586 times more than Glorioso Islands	5 sq km Ranked 12th.
Geography > Area > Total	7.74 million sq km Ranked 7th. 1548244 times more than Glorioso Islands	5 sq km Ranked 10th.
Geography > Climate	generally arid to semiarid; temperate in south and east; tropical in north	tropical
Geography > Coastline	25,760 km Ranked 7th. 732 times more than Glorioso Islands	35.2 km Ranked 201st.
Geography > Elevation extremes > Highest point	Mount Kosciuszko 2,229 m	unnamed location 12 m
Geography > Geographic coordinates	27 00 S, 133 00 E	11 30 S, 47 20 E
Geography > Location	Oceania, continent between the Indian Ocean and the South Pacific Ocean	Southern Africa, group of islands in the Indian Ocean, northwest of Madagascar
Geography > Natural hazards	cyclones along the coast; severe droughts; forest fires	periodic cyclones
Geography > Natural resources	bauxite, coal, iron ore, copper, tin, gold, silver, uranium, nickel, tungsten, rare earth elements, mineral sands, lead, zinc, diamonds, natural gas, petroleum	guano, coconuts
Geography > Terrain	mostly low plateau with deserts; fertile plain in southeast	low and flat
Government > Legal system	common law system based on the English model	the laws of France, where applicable, apply
Transport > Airports	480 Ranked 16th. 480 times more than Glorioso Islands	1 Ranked 226th.
Government > 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	the flag of France is used
Geography > Maritime claims > Territorial sea	12 nautical mile Ranked 137th. The same as Glorioso Islands	12 nautical mile Ranked 12th.

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