What it is
A services economy at home and a resources exporter abroad. Most Australians work in services, while what the country sells to the world is led by minerals, energy and farm produce.
What the economy is known for
- Exports led by iron ore, coal, natural gas and gold, with farm produce beside them
- Education and tourism are large service exports
- Close trade links with China and the rest of Asia
- Household borrowing for housing is large, so interest rates are felt quickly
A description of structure, in words. No size, share or ranking is given: those are figures, and they are read at the statistical offices named below.
Its central bank and mandate
The Reserve Bank of Australia’s task is price stability and full employment. It sets the cash rate target.
Reserve Bank of Australia on Central Bank Watch
The policy rate, the last decision and the next meeting are not shown on this site: they are read at the bank’s own publication.
The releases that matter, and who publishes them
- Labour Force (employment and unemployment)Published by Australian Bureau of StatisticsExplainer: Jobless rate
- Consumer Price IndexPublished by Australian Bureau of StatisticsExplainer: CPI
- National Accounts (Gross Domestic Product)Published by Australian Bureau of StatisticsExplainer: GDP
- Monetary policy decision and the Statement on Monetary PolicyPublished by Reserve Bank of AustraliaExplainer: Rates
- Monthly Business SurveyPublished by National Australia Bank
No dates or figures are shown here: each publisher’s own calendar is the authority. The explainers are in Economic Events; a release without a link has no explainer on this site yet.
Its main stock index
S&P/ASX 200. The main index of companies listed in Sydney, in which banks and mining companies weigh heavily. It is not a GIO4X instrument.
GIO4X lists no instrument on a stock index of Australia. The index is named for orientation only. The indices GIO4X does list are on the Indices page.
Its currency
The currency of Australia is the Australian dollar (AUD), issued by the Reserve Bank of Australia. GIO4X lists one currency pair that contains it; they are set out on the currency’s profile.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no figure, no ranking and no forecast.