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Economy and government system of Australia
Government
Australia is a parliamentary monarchy. So the head of the state is Queen Elisabeth II., because Australia is an old colony of the British Empire and today part of the Commowealth of Nations. However, the Queen has no political power, but representative functions.
There is a federal government and individual state governments.
The head of the federal government is Prime Minister John Howard. The government is elected every three years. There are two houses, which form the federal parliament: The House of Representatives, the so-called lower house, and the Senate, also called the upper house.
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There are three kinds of government: the federal government, state government and the local government.
Competencies
Federal Government: Defence, telecommunications, trade, foreign affairs, postal service, finances, social services, immigration, national highways
State Government: Education, police, health, main roads, electricity and water supply, ports
Local Government: local roads, parks, town planning
Economy
Overview:
Inhabitants: 20.08 million
Real growth rate: 1,2 (2003)
Inflation rate: 2% (July 2004)
Currency: Australian Dollar (AD)
Membership in international organisations: OECD, WTO, IMF, Worldbank, IAEO and
APEC.
The economy is dominated by the service sector with a portion of 65% of the GDP (gross domestic product). Other sectors are industrial production (14,5% GDP), building industry (6,7 % GDP), mining (4,2% GDP), agriculture (3,6% GDP) and energy (1,7% GDP).
The finance market is highly developed. New hopes are bio-, nano-, medical-, e-commerce and IT-technologies. Also "business services", for example law consulting, public relations and accountancy, is a fast growing sector. Innovation, research and development have a very high status.
Important exports are coal, oil- and gas products, ore, metals, fish and meat, textiles.
Coal is the most important export. Since the 80īs, Australia is the biggest exporting nation of coal.
Australian is dependent on its agriculture and its law material. Over the last few years Australia has achieved diversification, achieving more stability and independence from fluctuating world market prices.
The important imports are chemical and medical products, vehicles and IT-products. Important trading partners with Australia are the countries of Southeast-Asia, USA and the European Union.
Tourism and agriculture are main factors in Australian economy.
Australia has an active role in the WTO and has the chairmenship of the "Cairns-Group". This group stands for the liberalism of agriculture markets. So Australia is very engaged in agricultural policy. Australia signed a lot of free trade contracts, for example with Singapore, USA and Thailand.
Coal industry:
The coal industry is the most important sector in Australia. Australia is the leading nation in exporting hard coal. The success is based on the high quality of the coal, a highly developed infrastructure and a high productivity. So the prices are internationally competitive.
Australia has big reserves of brown coal, mainly in Victoria.
The coal trade is supported by a network of rails, streets, conveyor belts, loading systems and ports. The coordination between mines, logistic companies and ports is efficient.
There are nine loading constructions for coal in seven ports along the east coast of Australia. The constructions have a capacity of 178 million tonnes p.a. All ports can expand their capacities. This is dependent on market development.
Thomas Müller 13a
Links/Translation from:
Foreign Ministry of Germany: www.auswaertiges-amt.de
www.australian-embassy.de/news/factsheets/kohle.htm
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