×

Economy Stats: compare key data on Australia & Pitcairn Islands

  1. Home
  2. Country Info
  3. Compare
  4. Australia vs. Pitcairn Islands
  5. Economy

Definitions

  • Budget > Expenditures: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues > Per capita: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Currency: The national medium of exchange and its basic sub-unit.
  • Overview: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
  • Exchange rates: The official value of a country's monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat.
  • Exports > Commodities: This entry provides a listing of the highest-valued exported products; it sometimes includes the percent of total dollar value.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • Imports > Commodities: This entry provides a listing of the highest-valued imported products; it sometimes includes the percent of total dollar value.
  • Industries: A rank ordering of industries starting with the largest by value of annual output.
  • Labor force: This entry contains the total labor force figure.
  • Labor force per thousand people: This entry contains the total labor force figure. Figures expressed per thousand people for the same year.
  • Trade > Exports to US: in US dollars. Jan 2003 - March 2003
  • Trade > With US > US imports of bauxite and aluminum: US imports of bauxite and aluminum, USD Thousands, 2004
  • Budget > Expenditures > Per capita: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Trade balance with US: In US dollars. Jan 2003 - March 2003
SHOW ALL
LESS
SHARE TWEET EMBED
STAT Australia Pitcairn Islands HISTORY
Agriculture > Products wheat, barley, sugarcane, fruits; cattle, sheep, poultry honey; wide variety of fruits and vegetables; goats, chickens; fish
Budget > Expenditures $556.10 billion
Ranked 11th. 540953 times more than Pitcairn Islands 		$1.03 million
Ranked 149th.
Budget > Revenues $504.70 billion
Ranked 10th. 676542 times more than Pitcairn Islands 		$746,000.00
Ranked 221st.
Budget > Revenues > Per capita $15,753.02 per capita
Ranked 19th. 1% more than Pitcairn Islands 		$15,529.45 per capita
Ranked 7th.
Currency Australian dollar New Zealand dollar
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. The inhabitants of this tiny isolated economy exist on fishing, subsistence farming, handicrafts, and postage stamps. The fertile soil of the valleys produces a wide variety of fruits and vegetables, including citrus, sugarcane, watermelons, bananas, yams, and beans. Bartering is an important part of the economy. The major sources of revenue are the sale of postage stamps to collectors and the sale of handicrafts to passing ships.
Exchange rates Australian dollars (AUD) per US dollar -<br />0.97 (2012 est.)<br />0.97 (2011 est.)<br />1.09 (2010)<br />1.28 (2009)<br />1.21 (2008) New Zealand dollars (NZD) per US dollar -<br />1.23 (2012)<br />1.26 (2011)<br />1.39 (2010)<br />1.6 (2009)<br />1.42 (2008)
Exports > Commodities coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment fruits, vegetables, curios, stamps
Fiscal year 1 1
Imports > Commodities machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products fuel oil, machinery, building materials, flour, sugar, other foodstuffs
Industries mining, industrial and transportation equipment, food processing, chemicals, steel postage stamps, handicrafts, beekeeping, honey
Labor force 12
Ranked 115th. 		15
Ranked 110th. 25% more than Australia
Labor force per thousand people 0.000539
Ranked 100th. 		230.77
Ranked 4th. 428125 times more than Australia
Trade > Exports to US $1.43 billion
Ranked 32nd. 142530 times more than Pitcairn Islands 		$10,000.00
Ranked 211th.
Trade > With US > US imports of bauxite and aluminum 137,156
Ranked 8th. 		0.0
Ranked 110th.
Budget > Expenditures > Per capita $15,454.50 per capita
Ranked 18th. 		$18,683.38 per capita
Ranked 5th. 21% more than Australia
Trade balance with US $1.43 billion
Ranked 2nd. 1808 times more than Pitcairn Islands 		$790,000.00
Ranked 84th.

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; All CIA World Factbooks 18 December 2003 to 18 December 2008; CIA World Factbooks 2010, 2011, 2012, 2013; CIA World Factbooks 2010, 2011, 2012, 2013. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; US Census Bureau; FTDWebMaster, Foreign Trade Division, U.S. Census Bureau

SHOW ALL
LESS

Citation

Compare Australia and Pitcairn Islands in
Agriculture Government People
Economy Labor Religion
Environment Language Transport
Geography Media

Factoid #286

Related Sectors

E-commerce 2019

Stats

Country profiles

Compare

Adblocker detected! Please consider reading this notice.

We've detected that you are using AdBlock Plus or some other adblocking software which is preventing the page from fully loading.

We don't have any banner, Flash, animation, obnoxious sound, or popup ad. We do not implement these annoying types of ads!

We need money to operate the site, and almost all of it comes from our online advertising.

Please add www.nationmaster.com to your ad blocking whitelist or disable your adblocking software.

×