Diplomatic representation in US: chief of mission: Ambassador Donald Eric RUSSELL chancery: 1601 Massachusetts Avenue NW, Washington, DC 20036 telephone: [1] (202) 797-3000 FAX: [1] (202) 797-3168 consulate(s) general: Atlanta, Honolulu, Houston, Los Angeles, New York, Pago Pago (American Samoa), and San Francisco
US diplomatic representation:
chief of mission: Ambassador Edward J. PERKINS
embassy: Moonah Place, Yarralumla, Canberra, Australian Capital
Territory 2600
mailing address: APO AP 96549
telephone: [61] (6) 270-5000
FAX: [61] (6) 270-5970
consulate(s) general: Melbourne, Perth, and Sydney
consulate(s): Brisbane
Flag: blue with the flag of the UK in the upper hoist-side quadrant and a large seven-pointed star in the lower hoist-side quadrant; the remaining half is a representation of the Southern Cross constellation in white with one small five-pointed star and four, larger, seven-pointed stars
@Australia:Economy
Overview: Australia has a prosperous Western-style capitalist economy, with a per capita GDP comparable to levels in industrialized West European countries. Rich in natural resources, Australia is a major exporter of agricultural products, minerals, metals, and fossil fuels. Primary products account for more than 60% of the value of total exports, so that, as in 1983-84, a downturn in world commodity prices can have a big impact on the economy. The government is pushing for increased exports of manufactured goods, but competition in international markets continues to be severe. Australia has suffered from the low growth and high unemployment characterizing the OECD countries in the early 1990s. In 1992-93 the economy recovered slowly from the prolonged recession of 1990-91, a major restraining factor being weak world demand for Australia's exports. Growth picked up so strongly in 1994 that the government felt the need for fiscal and monetary tightening by yearend. Australia's GDP grew 6.4% in 1994, largely due to increases in industrial output and business investment. A severe drought in 1994 is expected to reduce the value of Australia's net farm production by $825 million in the twelve months through June 1995, but rising world commodity prices are likely to boost rural exports by 7.7% to $14.5 billion in 1995/96, according to government statistics.
National product: GDP - purchasing power parity - $374.6 billion (1994 est.)
National product real growth rate: 6.4% (1994)
National product per capita: $20,720 (1994 est.)
Inflation rate (consumer prices): 2.5% (1994)
Unemployment rate: 8.9% (December 1994)