subject: Australia Natural Resources and Environment [print this page] With the coming into force of the ANZCERTA agreement, the speed of integration has increased rapidly in case of Australia and New Zealand . It is expected that Australia would be able to create an Australasian Single Economic Market by 2015.
Other Characteristics of Australian Economy
Dominating sector of Australian economy is the service sector. Its features are
Service sector represents 68% of the Australian GDP;
Agricultural and mining sectors constitute combined together around 57% of the export of the nation.
Currency of the country that is operable throughout the territory is the Australian dollar.
Largest stock exchange in the country is the Australian Security Exchange.
Major Natural Resources in Australia
Major natural resources in Australia are minerals, natural gas, uranium ore, coal, zinc, aluminum and lead. Other prominent resources are iron ore, petroleum, uranium, nickel and above all gold and diamond. Australia is also the largest exporter of coal, alumina, woo, diamonds, sheep, refined zinc ore, mineral sands, and lead.
Other Natural Resources Exported by Australia
Among other natural resources that are exported from Australia are lamb, sugar, veal, nickel, beef, cereals, iron ore, and mutton. In fact Australia is one of those few countries that are rich in mineral resources, natural resources, as well as agricultural products. Such characteristics makes the economy almost self sufficient. Result is that Australia is one of the affluent economies of the world today.
