Annual growth rate in of Australian economy
Gross domestic product per capita of Australia is in fact higher than the countries like United States, United Kingdom, Germany and France. Australia is having one of the added open markets in the developed world. Australia has also been ranked second in the United Nations-2009 human element index, ranked 1st in a 2008 as per prosperity index and ranked on 6th number in the Economist worldwide excellence of life index for 2005.
After a long period of negligence which was done by various governments during last so many years ago, and in the direction and control of latest government, the structure of Australia has been changed and now this country has turned as most popular and well developed and with the use of country’s massive collection of its products Australia is now turned ad more advanced and reputed. Australia is now having an economy which is based on exporting commodities, though there is availability of businesses which are into manufacturing and services and adding to its country’s popularity and economy.
The annual growth rate in of Australian economy over the last 15 years has been noticed around 3.6%, which evaluates very well to the average for members of the Organisation for Economic Co-operation and Development, which is having annual growth rate over the same period was around 2.5%. Throughout the worldwide recession Australia has been one of the best performing financial system in the world and Australia was among a group of those countries which are running in front i.e. Germany and France, are the countries which first broke away the situation of recession into economic growth.
Although there is still some effort to be done to stable out the different business fields in Australian economy, great advancement has already been made, which has been appreciated by so many international companies and investors. Although Australian economy is relatively powerful but there is still stress at work place especially in terms of job security which are caused to Australian workers as an outbreak of owing overtime.