The document discusses the strong performance of the Australian economy in recent years. It notes that Australia has experienced 20 years of uninterrupted economic growth and has the second most resilient economy in the world. Unemployment is around 5% and inflation is contained. The mining sector has increased in size and now accounts for 9.6% of GDP. The financial services sector remains the largest, accounting for 11% of GDP. The outlook for the Australian economy remains positive due to investment in natural resources and infrastructure.

1. Australia
A Wealth of Opportunities
Benchmark Report 2011

2. Australia
A Wealth of Opportunities
The Australian economy continues to perform solidly, building on 20 years
of uninterrupted growth and Australia has ranked the second most resilient
economy in the world for two years running. Unemployment is around 5 per
cent, half that of many developed northern hemisphere countries. Inflation
is contained and Australian Government net debt, at around 8 per cent of
GDP, is amongst the lowest in the Organisation for Economic Co-operation
and Development countries. Australia continues to benefit from a significant
rise in the terms of trade and a healthy trade surplus. Demand for Australia’s
minerals and natural gas exports, notably from China and other Asian
countries underpins this strong performance.
These developments have seen a shift in the relative contributions to GDP
by key sectors of the economy. Financial services remains the largest sector
accounting for 11 per cent of GDP and the share of mining has increased to
9.6 per cent of GDP.
Australia’s financial sector continues to rank highly at number five in the
World Economic Forum’s The Financial Development Report 2010. Australia
has the third largest pool of bank assets in the region after Japan and China
and the fourth largest pool of contestable funds under management globally.
The funds management sector has grown seven-fold since 1991 at a
compound annual growth rate of 11 per cent, and now has A$1.8 trillion in
funds under management. Australia’s financial markets are sophisticated,
deep and highly liquid. Its stock market is the largest in the region, ex-Japan,
and the sixth largest globally. The financial services sector in Australia is open
and transparent and is supported by a world’s best practice regulatory system.
The outlook for the Australian economy remains buoyant with a substantial
pipeline of investment in the natural resources sector and a growing demand
for infrastructure investment. As a major energy supplier, Australia is looking
also to respond to opportunities to develop renewable energy capabilities
and to build on our reputation for innovation in fields such as biotechnology,
medical research and information and communications technology.
Australia has a highly educated and highly skilled workforce. It offers strong
multilingual capabilities with over a quarter of labour market participants
born outside Australia. Australia has also emerged as a major regional centre
for tertiary education which helps build strong business and cultural ties.
The richness of Australia’s natural and human resources, the openness of the
economy, institutional strength and transparency coupled with a safe and
enviable lifestyle position Australia as an important gateway to the fastest
growing markets in the world.
Section 1 Strong Economy > 1

3. sectIon 1
Strong Economy
World’s 20 Largest economies 2
Australia remains one of the world’s most
resilience of the economy to economic cycles 3
resilient economies and has enjoyed 20 years the Prosperity Index – 2010 World ranking by country 4
of uninterrupted economic growth. real gDP growth by country 5
Australia’s terms of trade 6
Unemployment rate by country 7
Australia’s real gross Value Added by Industry 8
Australia’s real gross Value Added – growth by Industry 9
general government Financial Balances 10
general government net Debt 11
strong
economy

4. World’s 20 Largest Economies – 2011F
Percentage share of total world nominal GDP in US$
Rest of World .
. Saudi Arabia .
1. USA .
. Switzerland .
. Turkey .
. Indonesia .
. Netherlands .
. South Korea .
. Mexico . .
2. China .
13. Australia .
12. Spain .
11. India .
3. Japan .
10. Canada .
9. Russia .
8. Italy .
4. Germany .
7. Brazil .
6. UK . 5. France .
F = Forecast
GDP of the world’s 182 economies: US$68,625 billion
GDP of Asia Pacific Economic Cooperation’s 21 member economies: US$38,245 billion (55.7%)
Sources: International Monetary Fund, World Economic Outlook Database, April 2011; Austrade
Australia’s economy ranks the 13th largest in the world, rivalling countries such as India, Spain and South Korea. Australia’s GDP is now
estimated at over US$1.4 trillion, the fourth largest economy in the Asia-Pacific region.
Section 1 Strong Economy > 2

5. Resilience of the Economy to Economic Cycles
The higher the score the better1
Rank Economy 2007 Score Economy 2008 Score Economy 2009 Score Economy 2010 Score Economy 2011 Score
1 Denmark 7.45 Australia 6.78 Qatar 6.16 Israel 7.13 Norway 7.74
2 USA 6.90 Denmark 6.73 Norway 5.96 Australia 7.04 Australia 7.68
3 Israel 6.82 Switzerland 6.43 Australia 5.83 India 6.82 Switzerland 7.34
4 Austria 6.67 Israel 6.14 Chile 5.83 Qatar 6.82 India 7.33
5 Malaysia 6.64 Austria 6.00 Denmark 5.79 Malaysia 6.63 Canada 7.28
6 Switzerland 6.43 Norway 5.96 India 5.78 Chile 6.29 Qatar 6.99
7 Australia 6.38 Chile 5.89 Brazil 5.54 Switzerland 6.27 Chile 6.94
8 India 6.33 India 5.87 Israel 5.53 Norway 6.11 Taiwan 6.84
9 Hong Kong 6.33 Brazil 5.83 Switzerland 5.38 Taiwan 6.07 Israel 6.83
10 Singapore 6.19 Finland 5.80 China 5.05 China 6.02 Malaysia 6.81
11 China 6.17 Singapore 5.78 Malaysia 5.04 Poland 5.80 Sweden 6.69
12 Norway 6.08 Sweden 5.66 Finland 5.00 Singapore 5.78 Brazil 6.67
13 UK 6.02 Netherlands 5.66 Austria 4.98 Sweden 5.75 Austria 6.59
14 Chile 6.00 Malaysia 5.66 Singapore 4.96 Indonesia 5.64 China 6.44
15 Taiwan 5.79 Hong Kong 5.61 Hong Kong 4.94 South Korea 5.55 Estonia 6.39
16 Japan 5.79 Taiwan 5.52 Taiwan 4.91 Canada 5.55 Turkey 6.37
17 Ireland 5.76 Czech Republic 5.41 South Africa 4.84 Brazil 5.51 Philippines 6.24
18 Luxembourg 5.73 Canada 5.36 Netherlands 4.83 Philippines 5.50 South Africa 6.20
19 Estonia 5.72 Germany 5.34 Germany 4.79 Austria 5.46 Germany 6.20
20 Netherlands 5.66 Slovenia 5.29 Sweden 4.77 Hong Kong 5.40 Thailand 6.18
21 Slovenia 5.66 USA 5.29 Philippines 4.73 Thailand 5.33 Singapore 6.18
22 Sweden 5.61 Estonia 5.27 Slovenia 4.63 Denmark 5.22 Netherlands 6.09
23 Czech Republic 5.60 Jordan 5.15 Lithuania 4.60 Netherlands 5.20 Indonesia 6.05
24 Jordan 5.50 China 5.15 Jordan 4.60 Germany 5.14 Poland 6.00
25 Iceland 5.44 Ireland 5.02 New Zealand 4.49 Turkey 4.87 Peru 5.99
1. Surveyed question: Resilience of the economy to economic cycles is strong (Updated: May 2011, Institute for Management Development (IMD) World Competitiveness
Yearbook executive survey based on an index from 0 to 10).
Sources: IMD World Competitiveness Online 1995-2011; Austrade
The Australian economy has recorded 20 years of uninterrupted growth to 2011. The strength of the Australian economy is well recognised.
The 2011 Institute for Management Development (IMD) World Competitiveness Yearbook rated Australia’s economy the second most resilient
in the world for the two consecutive years to 2011. For economies with populations greater than 20 million, Australia has topped this category
each year since 2008.
Section 1 Strong Economy > 3

6. The Prosperity Index – 2010 World Ranking by Country1
Overall Overall Entrepreneurship Safety & Personal Social
Rank Economy Score Economy & Opportunity Governance Education Health Security Freedom Capital
1 Norway 3.375 1 6 12 4 4 2 2 1
2 Denmark 3.235 4 1 2 5 17 6 6 2
3 Finland 3.086 9 4 7 3 10 3 12 7
4 Australia 3.059 8 13 8 2 15 13 4 4
5 New Zealand 3.027 17 14 4 1 19 7 3 3
6 Sweden 2.995 7 2 6 10 9 8 5 11
7 Canada 2.979 5 10 5 12 11 16 1 8
8 Switzerland 2.928 2 11 1 29 3 12 19 6
9 Netherlands 2.811 3 12 10 13 13 18 13 5
10 USA 2.776 14 3 3 9 1 25 9 12
11 Ireland 2.729 22 7 14 15 14 4 7 10
13 UK 2.473 18 5 9 22 20 23 15 9
15 Germany 2.332 13 15 15 25 6 20 14 16
17 Singapore 2.040 6 8 11 30 24 5 36 54
18 Japan 1.866 11 19 20 24 5 11 42 31
19 France 1.864 19 20 19 14 7 27 17 42
20 Hong Kong 1.845 10 17 18 53 34 14 16 24
22 Taiwan 1.535 25 22 37 7 26 10 28 52
23 Spain 1.531 33 27 22 11 25 38 18 35
25 Italy 1.307 29 30 32 19 18 30 27 30
27 South Korea 1.208 15 18 31 8 30 33 64 59
30 UAE 1.054 30 24 38 34 35 24 54 36
43 Malaysia 0.246 21 34 34 45 44 52 90 90
45 Brazil 0.077 32 49 60 75 55 76 25 56
52 Thailand -0.086 23 54 53 47 64 75 106 20
58 China -0.374 24 60 64 59 66 92 102 27
61 Vietnam -0.462 62 77 62 81 74 46 66 68
64 Philippines -0.542 52 69 55 60 81 85 56 82
70 Indonesia -0.669 43 82 70 70 84 56 96 44
88 India -1.269 44 93 41 89 95 78 74 105
UAE = United Arab Emirates.
1. The Prosperity Index assesses 110 countries, accounting for over 90 per cent of the world’s population, and is based on 89 different variables, each of which has a
demonstrated effect on economic growth or on personal well-being. The Index consists of eight sub-indexes, each of which represents a fundamental aspect of prosperity:
1. Economy; 2. Entrepreneurship & Opportunity; 3. Governance; 4. Education; 5. Health; 6. Safety & Security; 7. Personal Freedom; and 8. Social Capital. The Legatum Institute is a
London-based global think tank that promotes political, economic, and individual liberty around the globe, with a special focus on developing and transitioning countries.
Sources: The 2010 Legatum Prosperity Index; Austrade
Australia is ranked fourth in the world and first in the Asia Pacific in the Legatum Institute’s 2010 Prosperity Index of more than 100 countries.
Countries were rated on the following: economy, entrepreneurship and opportunity, governance, education, health, safety and security,
personal freedom and social capital. Australia achieved the following top ten rankings: education (second), personal freedom (fourth), social
capital (fourth), economy (eighth), and governance (eighth).
Section 1 Strong Economy > 4

7. Real GDP Growth by EconomyF
Average Growth Rate
Rank 1998 to 2012 2004 2005 2006 2007 2008 2009 2010 2011F 2012F
China 9.8 10.1 11.3 12.7 14.2 9.6 9.2 10.3 9.6 9.5
India 7.0 8.1 9.2 9.7 9.9 6.2 6.8 10.4 8.2 7.8
Vietnam 6.9 7.8 8.4 8.2 8.5 6.3 5.3 6.8 6.3 6.8
Mongolia 6.7 10.6 7.3 18.8 10.2 8.9 -1.3 6.1 9.8 7.1
UAE 5.4 10.1 8.6 8.8 6.6 5.3 -3.2 3.2 3.3 3.8
Singapore 5.3 9.2 7.4 8.7 8.8 1.5 -0.8 14.5 5.2 4.4
Russia 4.6 7.2 6.4 8.2 8.5 5.2 -7.8 4.0 4.8 4.5
Philippines 4.4 6.4 5.0 5.3 7.1 3.7 1.1 7.3 5.0 5.0
Taiwan 4.3 6.2 4.7 5.4 6.0 0.7 -1.9 10.8 5.4 5.2
Malaysia 4.3 6.8 5.3 5.8 6.5 4.7 -1.7 7.2 5.5 5.2
South Korea 4.3 4.6 4.0 5.2 5.1 2.3 0.2 6.1 4.5 4.2
Indonesia 3.9 5.0 5.7 5.5 6.3 6.0 4.6 6.1 6.2 6.5
Hong Kong 3.7 8.5 7.1 7.0 6.4 2.3 -2.7 6.8 5.4 4.2
Thailand 3.4 6.3 4.6 5.1 5.0 2.5 -2.3 7.8 4.0 4.5
Australia1 3.3 3.8 3.1 2.6 4.6 2.6 1.3 2.7 2.0 3.5
Brazil 3.2 5.7 3.2 4.0 6.1 5.2 -0.6 7.5 4.1 3.6
Canada 2.6 3.1 3.0 2.8 2.2 0.5 -2.8 3.2 2.9 2.6
Spain 2.5 3.3 3.6 4.0 3.6 0.9 -3.7 -0.1 0.8 1.6
New Zealand 2.4 4.5 3.3 1.0 2.8 -0.2 -2.1 1.5 0.9 4.1
USA 2.4 3.6 3.1 2.7 1.9 0.0 -2.6 2.9 2.5 2.7
Netherlands 1.9 2.2 2.0 3.4 3.9 1.9 -3.9 1.7 1.5 1.5
UK 1.9 3.0 2.2 2.8 2.7 -0.1 -4.9 1.4 1.5 2.3
Switzerland 1.9 2.5 2.6 3.6 3.6 1.9 -1.9 2.6 2.4 1.8
France 1.8 2.3 2.0 2.4 2.3 0.1 -2.6 1.4 2.1 1.9
Germany 1.4 0.7 0.9 3.6 2.8 0.7 -4.7 3.5 3.2 2.0
Italy 0.8 1.5 0.7 2.0 1.5 -1.3 -5.2 1.3 1.0 1.3
Japan 0.7 2.7 1.9 2.0 2.4 -1.2 -6.3 4.0 -0.7 2.9
World Average2 2.8 3.9 3.5 4.0 3.9 1.6 -2.1 4.0 3.4 3.7
F = Forecast; UAE = United Arab Emirates.
1. Australia’s 2011 and 2012 figures were sourced from International Monetary Fund (IMF) ‘Australia – 2011 Article IV Consultation Concluding Statement’.
2. Based on market exchange rates.
Sources: International Monetary Fund, World Economic Outlook (WEO) Database, April 2011, WEO Update June 2011; Austrade
In its latest assessment of Australia’s economy, the International Monetary Fund (IMF) sees the economic outlook for Australia as favourable,
led by private investment in mining and commodity exports. It expects strong commodity demand to be long lasting because of favourable
prospects for sustained growth in emerging Asia, including China. The IMF projects real GDP growth of 2 per cent for calendar year 2011 and
3.5 per cent growth in 2012, with the unemployment rate remaining at around 5 per cent. It notes Australia’s economic stability has been
supported by prudent fiscal policy and ongoing structural reforms.
Section 1 Strong Economy > 5

8. Australia’s Terms of Trade
Index, Trend Terms
130
120
110
100
90
80
70
60
50
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Jun
Sources: Australian Bureau of Statistics Cat. No. 5206.0, – Australian National Accounts: National Income, Expenditure and Product, June 2011, Table 1. Key National
Accounts Aggregates (Released 07 September 2011); Austrade
Australia’s terms of trade have reached their highest levels in 140 years, based on strong price increases for Australia’s key non-rural
commodity exports. This reflects strong commodity demand from booming Asian economies, particularly those of China and India.
Section 1 Strong Economy > 6

9. Unemployment Rate by Country
Unemployment Rate – Percentage of Labour Force, Annual Rate Latest Rate1
Rank 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Norway 3.9 4.4 4.4 4.6 3.4 2.5 2.6 3.2 3.6 2.8
Switzerland 2.9 4.1 4.3 4.4 4.0 3.6 3.4 4.1 4.2 2.8
South Korea 3.3 3.6 3.7 3.7 3.4 3.2 3.2 3.6 3.7 3.3
Netherlands 3.1 4.1 5.0 5.3 4.3 3.6 3.0 3.7 4.5 4.3
Japan 5.4 5.2 4.7 4.4 4.1 3.9 4.0 5.0 5.0 4.7
Australia 6.4 5.9 5.4 5.0 4.8 4.4 4.2 5.6 5.2 5.1
Mexico 2.9 3.0 3.7 3.5 3.2 3.4 3.5 5.2 5.3 5.6
Brazil 9.1 9.7 8.9 9.3 8.4 8.1 7.1 8.3 – 6.0
Russia 7.9 8.2 7.8 7.2 7.2 6.1 6.3 8.4 7.5 6.5
New Zealand 5.3 4.8 4.0 3.8 3.9 3.7 4.2 6.1 6.5 6.5
Sweden 5.2 5.8 6.5 7.7 7.0 6.1 6.1 8.3 8.4 6.9
Germany 8.6 9.3 10.3 11.1 10.3 8.6 7.5 7.7 7.1 7.0
Denmark 4.6 5.4 5.5 4.8 3.9 3.8 3.3 6.0 7.4 7.2
Canada 7.7 7.6 7.2 6.8 6.3 6.0 6.1 8.3 8.0 7.2
Chile 8.9 8.5 8.8 8.0 7.7 7.1 7.8 9.7 8.1 7.5
Belgium 7.5 8.2 8.4 8.4 8.2 7.5 7.0 7.9 8.3 7.5
UK 5.1 4.8 4.6 4.6 5.3 5.2 5.3 7.7 7.8 7.9
Finland 9.0 9.0 8.8 8.4 7.6 6.8 6.3 8.3 8.4 7.9
Italy 9.0 8.7 8.0 7.7 6.8 6.1 6.7 7.8 8.4 8.2
USA 5.8 6.0 5.5 5.1 4.6 4.6 5.8 9.3 9.6 9.1
France 8.7 8.5 8.8 8.9 8.8 8.0 7.4 9.1 9.3 9.2
Turkey 10.4 10.5 10.8 10.6 10.2 10.3 11.0 14.0 11.9 9.4
Portugal 5.0 6.3 6.7 7.6 7.7 8.0 7.6 9.5 10.8 12.3
Ireland 4.4 4.6 4.5 4.7 4.6 4.6 5.7 12.0 13.6 14.5
Greece 10.3 9.7 10.5 9.8 8.9 8.3 7.7 9.5 12.5 15.9
Spain 11.4 11.3 11.0 9.2 8.5 8.3 11.3 18.0 20.1 21.2
1. Latest unemployment rate for each country – annual rates for 2011 not yet available.
Sources: 2002 to 2010 data taken from OECD.StatExtracts on 01 Sep 2011, and latest figures sourced from Bloomberg on 01 Sep 2011; Austrade
Australia’s unemployment rate has eased to around 5 per cent after peaking at 5.8 per cent in the middle of 2009. Over the past two years
employment in Australia rose by almost half a million. Globally, Australia is ranked second in terms of economic resilience which is attributed
in part to the openness of the economy and sustained economic reforms over recent decades.
Section 1 Strong Economy > 7

10. Australia’s Real Gross Value Added by Industry1
As a percentage of total industry
Mining . Finance/Insurance .
Professional/Scienti c/
Manufacturing . Technical Services .
Agriculture/Forestry/Fishing .
Healthcare/Social Assistance .
Construction .
Transport/Postal/Warehousing .
Utilities . Public Administration/Safety .
Other Services2 .
Wholesale Trade .
Retail Trade .
Education/Training .
Rental/Hiring/Real Estate Services .
Information Media/Telecommunications .
Service Industries .
1. Annual total to June 2011.
2. Including Ownership of Dwellings (7.9%), Administrative/Support Services (2.6%), Accommodation/Food Services (2.2%), and Arts/Recreation Services (0.8%).
Sources: Australian Bureau of Statistics, Cat. No. 5206.0, National Income, Expenditure and Product, Time Series Workbook (Released 7 September 2011), Table 33; Austrade
The financial sector is the largest contributor to Australia’s national output, directly generating 11 per cent or A$135 billion of real gross value
added in the year to June 2011. Australia’s financial sector continues to grow faster than most other sectors of the economy. The financial
services industry is a major driver of Australia’s economic growth, contributing almost four times that of agriculture, forestry and fisheries
(A$34 billion), and almost 15 per cent more than mining (A$118 billion).
Section 1 Strong Economy > 8

11. Australia’s Real Gross Value Added – Growth by Industry1
Professional/Scienti c/Technical Services .
Construction .
Administrative/Support Services .
Financial/Insurance Services .
Agriculture/Forestry/Fishing .
Healthcare/Social Assistance .
Information/Media/Telecommunications .
Arts/Recreation Services .
Retail Trade .
Transport/Postal/Warehousing .
Wholesale Trade .
Mining .
Accommodation/Food Services .
Public Administration/Safety .
Education/Training .
Utilities . All Industry Average Growth: . Per Annum
Rental/Hiring/Real Estate Services .
Manufacturing .
0 1 2 3 4 5 6 7
Average Annual Growth Rate (%)
1. Annual total to June each year.
Sources: Australian Bureau of Statistics, Cat. No. 5206.0, National Income, Expenditure and Product, Time Series Workbook (Released 7 September 2011), Table 33; Austrade
Australia’s finance and insurance sector has been one of the country’s highest performing industries, achieving an average annual growth
rate of 4.9 per cent per annum between 1998 and 2011. This is well above the combined average for all industries (3.4 per cent) and reflects
the overall strength of Australia’s service-based economy (which currently accounts for almost 80 per cent of the Australian economy).
Section 1 Strong Economy > 9

12. General Government Financial Balances – 2012
Surplus (+) or Deficit (-) as a percentage of nominal GDP
5.0
2.5
. .
.
.
0.0
- .
- .
- .
-2.5 - .
- . - .
- . - . - . - .
- . - .
- .
- .
- . - .
-5.0 - .
- .
- .
-7.5 - .
- . - .
- .
-10.0
Sweden
USA
Japan
Ireland
UK
Greece
New Zealand
France
Portugal
Spain
Poland
Canada
Hungary
Austria
Denmark
Euro area
Israel
Belgium
Italy
Netherlands
Australia
Germany
Finland
Luxembourg
Switzerland
South Korea
Turkey
Sources: OECD Economic Outlook No. 89 – June 2011 – Annual Projections for OECD Countries, Annex Table 27 (Released 25 May 2011); Austrade
The Organisation for Economic Co-operation and Development (OECD) Economic Outlook confirms that the Australian economy remains
one of the best performing in the developed world. The report shows that our general government financial deficit as a percentage of GDP is
one of the lowest amongst OECD countries. The OECD has also given a strong endorsement of the Government’s fiscal strategy, stating that
the prudent fiscal consolidation strategy reinforces Australia’s commitment to sound public finances.
Section 1 Strong Economy > 10

13. General Government Net Debt1 – 2012
As a percentage of GDP
140
.
120 Average 64.4
Advanced 73.3
. Emerging 25.7
.
100
.
.
.
80 . .
60
. .
. .
40 . .
. .
. .
.
20
.
. .
0
Japan
Ireland
Italy
Portugal
Belgium
France
UK
USA
Spain
Germany
Austria
Switzerland
South Africa
Brazil
Mexico
Canada
Netherlands
Turkey
South Korea
New Zealand
Australia
Denmark
1. IMF staff estimates and projections. Projections are based on staff assessment of current policies.
Sources: International Monetary Fund (IMF) World Economic and Financial Surveys, Fiscal Monitor, April 2011, Statistical Table 8; Austrade
Australian Government net debt is estimated to be around 8 per cent of GDP, according to the International Monetary Fund (IMF) 2011 World
Economic and Financial Surveys. The ratio is well below the average of 73.3 per cent of GDP for advanced economies. The relatively low level
of public sector debt reinforces Australia’s strong financial position and sound economic credentials.
Section 1 Strong Economy > 11

14. SecTIon 2
Open Economy
World merchandise Trade by country 13
Australia has an open economy which is
Australia’s Trade in Goods and Services 14
increasingly integrated with countries in contribution to Australia’s Total exports by Sector 15
our region – the fastest growing markets in Australia’s merchandise exports by country 16
the world. Australia’s merchandise Imports by country 17
Australia’s merchandise exports and Imports by Industry 18
markets for Australian exports 19
Australia’s Rural and mineral Resources exports 20
exports and Imports of Australian mineral Resources 21
Value of Australian mineral exports by Destination 22
World energy Selected Indicators 23
outlook for World primary energy Demand 24
Distribution of Foreign Students in Tertiary education 25
Australia’s exports of education Services 26
overseas Students by Home country and Field of Study 27
Australian Universities Academic Ranking in Top 500 28
Stock of Foreign Direct Investment in Australia 29
Foreign Direct Investment Inward Stock by economy 30
open
economy

15. World Merchandise Trade by Economy – 2010
Excluding Intra-EU (27) trade
Value Share Annual % Value Share Annual %
Rank Exporters (US$Bn) % change Rank Importers (US$Bn) % change
1 Extra-EU (27) exports 1,787 15.0 17 1 Extra-EU (27) exports 1,977 16.5 18
2 China 1,578 13.3 31 2 USA 1,968 16.4 23
3 USA 1,278 10.8 21 3 China 1,395 11.6 39
4 Japan 770 6.5 33 4 Japan 693 5.8 25
5 South Korea 466 3.9 28 5 Hong Kong 442 3.7 25
– retained imports1 116 1.0 31
6 Hong Kong 401 3.4 22 6 South Korea 425 3.5 32
– domestic exports1 18 0.2 7
– re-exports1 383 3.2 23
7 Russia 400 3.4 32 7 Canada2 402 3.3 22
8 Canada 387 3.3 22 8 India 323 2.7 25
9 Singapore 352 3.0 30 9 Singapore 311 2.6 26
– domestic exports 183 1.5 32 – retained imports3 142 1.2 24
– re-exports 169 1.4 28
10 Mexico 298 2.5 30 10 Mexico 311 2.6 29
11 Taiwan 275 2.3 35 11 Taiwan 251 2.1 44
12 Saudi Arabia1 254 2.1 32 12 Russia2 248 2.1 30
13 UAE1 235 2.0 27 13 Australia 202 1.7 22
14 India 216 1.8 31 14 Brazil 191 1.6 43
15 Australia 212 1.8 38 15 Turkey 185 1.5 32
16 Brazil 202 1.7 32 16 Thailand 182 1.5 36
17 Malaysia 199 1.7 26 17 Switzerland 176 1.5 13
18 Switzerland 195 1.6 13 18 UAE1 170 1.4 13
19 Thailand 195 1.6 28 19 Malaysia 165 1.4 33
20 Indonesia 158 1.3 32 20 Indonesia 132 1.1 46
Total of above4 9,858 83.0 Total of above4 10,149 84.5
World4 (excl. Intra-EU (27)) 11,878 100 26 World4 (excl. Intra-EU (27)) 12,016 100 24
UAE = United Arab Emirates.
1. WTO Secretariat estimates.
2. Imports are valued FOB (Free On Board).
3. Singapore’s retained imports are defined as imports less re-exports.
4. Includes significant re-exports or imports for re-export.
Source: World Trade Organization (WTO), World Trade 2010, Prospects for 2011, Press Release (7 April 2011), Appendix Table 4; Austrade
The ratio of Australia’s trade (exports plus imports) in goods and services to GDP was high, around 40 per cent in 2010-11. According to the
latest report by the World Trade Organization (WTO), Australia exported more than US$210 billion worth of merchandise goods and imported
around US$202 billion worth of merchandise products, respectively the 15th and 13th largest globally.
Section 2 Open Economy > 13

16. Australia’s Trade in Goods and Services
A$ Million seasonally adjusted
30,000 8,000
Exports (LHS)
6,000
25,000
4,000
Imports (LHS)
20,000
2,000
15,000
0
10,000
Trade Balance (RHS) -2,000
5,000 -4,000
0 -6,000
Jun
Dec
Jun
Dec
Jun
Dec
Jun
Dec
Jun
Dec
Jun
Dec
Jun
Sources: Australian Bureau of Statistics, Cat. No. 5368.0, International Trade in Goods and Services, Australia Table 1 (Released 3 August 2011); Austrade
In 2010-11, Australia’s annual export value of goods and services rose by 17 per cent to A$298 billion. The surge was led by minerals, up
48 per cent to A$79 billion, and fuels, which climbed 20 per cent to A$68 billion. Australia’s annual imports also increased by 7 per cent to
A$276 billion in 2010-11. Australia recorded a total trade surplus of A$22 billion in 2010-11, a marked turnaround on the A$3 billion deficit of
the previous year.
Section 2 Open Economy > 14

17. Contribution to Australia’s Total Exports by Sector
Real value as a percentage of total exports
60
1979-80 1989-90 1999-00 2009-10
50
40
30
20
10
0
Rural Mineral and Energy Other Merchandise, Services
Resources incl. Manufacturing
Sources: Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), Australian Commodity Statistics 2010, Australian Economy Overview Tables,
Table 7, (Released 2 December 2010); Austrade
Over the past four decades, resources as a percentage of Australia’s total exports of goods and services have risen to over 50 per cent from
around 17 per cent in 1980. In percentage terms, exports of rural and other merchandise, including manufacturing, have declined with each
contributing around 14 per cent to total exports.
Section 2 Open Economy > 15

18. Australia’s Merchandise Exports by Country1
A$ Billion FOB Value
Share % CAGR %
Rank Economy 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2010-11 2006-11
1 China 18.1 22.8 27.0 39.3 46.5 64.6 26.4 28.9
2 Japan 31.1 32.6 35.0 52.8 37.1 46.8 19.1 8.5
3 South Korea 11.8 13.1 14.2 19.3 16.5 22.5 9.2 13.8
4 India 7.4 10.1 9.3 15.4 16.2 15.6 6.4 16.1
5 Taiwan 5.9 6.2 6.5 8.1 6.9 9.1 3.7 9.0
6 USA 9.8 9.8 10.6 11.6 9.5 9.1 3.7 -1.5
7 New Zealand 8.7 9.4 9.5 8.5 8.0 7.7 3.1 -2.6
8 Thailand 4.2 4.3 4.6 5.0 4.7 7.0 2.9 10.5
9 UK 7.8 6.1 8.3 11.5 7.2 6.5 2.7 -3.4
10 Singapore 4.2 4.6 5.2 5.5 5.0 5.4 2.2 5.3
11 Indonesia 4.0 4.2 4.0 4.3 4.3 4.8 2.0 3.7
12 Malaysia 2.5 3.1 3.4 3.7 3.1 4.1 1.7 10.0
13 Hong Kong 2.9 3.0 2.8 3.2 2.7 3.3 1.3 2.4
14 Netherlands 2.6 3.0 2.9 3.2 2.1 3.0 1.2 2.9
15 Papua New Guinea 1.4 1.5 1.6 1.6 2.0 2.2 0.9 9.8
16 UAE 1.6 2.4 3.1 3.6 2.0 2.2 0.9 5.9
17 Germany 1.4 1.4 1.5 2.2 1.7 2.1 0.9 8.2
18 Vietnam 0.9 1.6 1.8 1.2 1.4 1.8 0.7 14.6
19 South Africa 2.2 2.3 2.4 2.1 1.8 1.6 0.7 -6.1
20 Brazil 0.9 0.9 0.9 1.5 1.3 1.5 0.6 9.8
Other Markets 22.9 25.4 26.0 27.1 20.7 23.8 9.7 0.8
TOTAL 152.4 168.0 180.8 230.8 200.6 244.5 100.0 9.9
CAGR = Compound Annual Growth Rate.
FOB = Free on Board.
UAE = United Arab Emirates.
1. Financial year ending June.
Sources: Australian Bureau of Statistics Cat No. 5368.0 International Trade in Goods and Services, Australia (Released 3 August 2011), Table 14a; Austrade
Australia’s merchandise exports rose 10 per cent a year between 2005-06 and 2010-11. This impressive result was primarily due to strong
demand for our minerals and fuels in Asia. Of the top ten export markets in 2011, eight were from the Asia-Pacific region. Their combined
value accounted for 73 per cent of Australia’s total export earnings in 2010-11, up from 60 per cent five years ago.
Section 2 Open Economy > 16

19. Australia’s Merchandise Imports by Country1
Customs Value A$ Billion
Share % CAGR %
Rank Economy 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2010-11 2006-11
1 China 23.2 27.1 31.0 37.0 36.4 41.1 19.2 12.1
2 USA 22.8 24.9 24.3 25.3 21.9 23.3 10.9 0.4
3 Japan 17.3 17.4 19.7 17.8 17.8 16.7 7.8 -0.8
4 Singapore 10.5 10.1 13.7 13.4 10.9 11.4 5.3 1.6
5 Germany 8.7 9.3 10.6 11.1 10.7 10.2 4.8 3.4
6 Thailand 5.4 7.2 8.8 10.8 12.4 9.1 4.3 11.1
7 Malaysia 6.8 6.6 8.1 8.3 8.5 8.8 4.1 5.5
8 New Zealand 5.5 5.6 7.0 7.1 7.0 7.4 3.4 6.1
9 South Korea 6.5 6.0 6.2 6.5 7.1 7.0 3.3 1.5
10 UK 6.0 7.4 8.5 9.0 5.8 6.0 2.8 0.1
11 Indonesia 4.6 4.6 4.6 5.0 4.7 5.8 2.7 4.8
12 Italy 4.2 4.9 4.9 5.3 4.8 4.8 2.3 3.0
13 France 5.3 3.9 5.0 4.7 3.9 3.8 1.8 -6.6
14 Taiwan 3.8 4.4 4.1 4.1 3.4 3.6 1.7 -1.0
15 Papua New Guinea 2.3 2.2 2.7 3.0 2.9 3.5 1.6 8.4
16 UAE 0.7 1.7 2.5 1.9 2.3 3.1 1.5 36.3
17 Vietnam 4.1 4.5 5.1 4.4 3.1 2.7 1.2 -8.4
18 Switzerland 1.6 1.9 2.1 2.5 2.2 2.5 1.2 9.8
19 Sweden 2.4 2.3 2.5 2.4 2.1 2.3 1.1 -0.7
20 Ireland 1.9 2.1 2.0 2.4 2.3 2.2 1.0 3.3
Other Markets 24.0 26.4 28.7 37.2 33.4 38.8 18.1 10.1
TOTAL 167.5 180.8 202.3 219.5 203.6 214.2 100.0 5.0
CAGR = Compound Annual Growth Rate.
UAE = United Arab Emirates.
1. Financial year ending June.
Sources: Australian Bureau of Statistics Cat No. 5368.0 International Trade in Goods and Services, Australia (Released 3 August 2011), Table 14b; Austrade
Australia’s merchandise imports rose 5 per cent a year between 2006 and 2011. Of the top 10 import partners, seven were from the
Asia-Pacific region, with a total combined value of more than A$100 billion. These accounted for almost half of Australia’s total imports bills
in 2010-11. China is Australia’s largest source of imports, overtaking the USA in 2005-06, with a total bill of A$ 41.1 billion in 2010-11.
Section 2 Open Economy > 17

20. Australia’s Merchandise Exports and Imports by Industry1
A$ Billion
Share % CAGR %
Rank Exports by Industry 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2010-11 2006-11
1 Metal Ore Mining 20.8 25.8 31.5 43.2 45.1 69.6 28.5 27.3
2 Coal Mining 24.3 21.8 24.4 54.7 36.4 43.1 17.6 12.2
3 Primary Metal and Metal Product MFG 25.0 33.5 34.1 37.0 30.9 33.4 13.7 5.9
4 Oil and Gas Extraction 11.4 13.9 16.6 19.4 17.9 22.5 9.2 14.5
5 Food Product MFG 13.5 13.9 13.8 15.8 13.6 14.6 6.0 1.6
6 Agriculture 8.1 7.5 8.3 10.4 8.8 11.6 4.8 7.6
7 Machinery and Equipment MFG 9.9 10.5 11.0 11.7 10.4 11.1 4.5 2.2
8 Basic Chemical and Chemical Product MFG 6.2 6.9 7.4 7.5 7.2 7.1 2.9 2.7
9 Transport Equipment MFG 6.1 5.3 6.4 5.5 4.5 4.1 1.7 -7.4
10 Petroleum and Coal Product MFG 3.2 3.1 3.8 3.1 2.6 2.9 1.2 -2.1
Other Industries 24.0 25.7 23.6 22.6 23.3 24.5 10.0 0.4
TOTAL 152.4 168.0 180.8 230.8 200.6 244.5 100.0 9.9
Share % CAGR %
Rank Imports by Industry 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2010-11 2006-11
1 Machinery and Equipment MFG 51.2 55.0 57.4 63.3 58.6 60.7 28.3 3.4
2 Transport Equipment MFG 27.5 28.6 33.1 26.1 29.2 28.0 13.1 0.4
3 Basic Chemical and Chemical Product MFG 17.3 18.5 20.0 22.2 20.1 21.8 10.2 4.8
4 Oil and Gas Extraction 12.8 14.1 17.9 17.0 16.3 21.6 10.1 11.1
5 Petroleum and Coal Product MFG 8.8 8.1 12.7 13.0 11.2 12.0 5.6 6.4
6 Primary Metal and Metal Product MFG 9.3 11.0 13.1 18.7 13.3 11.7 5.5 4.7
7 Textile, Leather, Clothing and Footwear MFG 8.5 9.0 9.2 10.6 9.6 10.5 4.9 4.2
8 Food Product MFG 5.5 6.5 7.1 8.2 7.8 8.2 3.8 8.2
9 Polymer Product and Rubber Product MFG 5.4 6.2 6.4 7.0 6.9 7.4 3.5 6.5
10 Fabricated Metal Product MFG 5.0 5.8 6.0 7.6 6.3 6.8 3.2 6.5
Other Industries 16.3 17.9 19.3 25.6 24.3 25.5 11.9 9.5
TOTAL 167.5 180.8 202.3 219.5 203.6 214.2 100.0 5.0
CAGR = Compound Annual Growth Rate; MFG = Manufacturing.
1. Financial year ending June.
2. Australian New Zealand Standard Industry Classification 2006 (Trade version).
Sources: Australian Bureau of Statistics Cat No. 5368.0 International Trade in Goods and Services, Australia (Released 3 August 2011), Tables 32b and 35a; Austrade
Iron ore exports have grown rapidly with a Compound Annual Growth Rate (CAGR) of 27 per cent between 2006 and 2011. Iron ore has
overtaken coal as Australia’s number one export since 2009-10, with a 28.5 per cent share of total export earnings in 2010-11 valued at
A$69.6 billion. Coal is our second most important export with a total value of more than A$43 billion in 2010-11 and market share of 17.6
per cent. Australia’s merchandise imports have increased moderately with a CAGR of 5 per cent over the past five years. Machinery and
transport equipment were Australia’s top two imports, with a total combined bill of A$89 billion in 2010-11 and market share of 41 per cent.
Section 2 Open Economy > 18

21. Markets for Australian Exports
As a percentage of total exports by economy and industry in 2009-10 Dollars
(A$ Billion) China Japan South Korea India EU 27 USA New Zealand Other
TOTAL 1999-00 132.8 5 19 8 2 13 10 7 36
2009-10 200.7 23 18 8 8 8 5 4 26
(A$ Billion) Japan ASEAN Other Asia China USA EU 27 Middle East Other
Agriculture 1999-00 33.5 17 15 15 7 8 11 8 19
2009-10 28.6 14 14 14 12 8 6 6 26
(A$ Billion) China Japan India South Korea EU 27 Other Asia Thailand Other
Minerals 1999-00 37.9 5 16 1 9 9 22 2 36
2009-10 82.1 37 12 11 8 8 7 3 14
(A$ Billion) Japan South Korea India Taiwan Other Asia EU 27 Other
Energy 1999-00 25.2 39 12 3 7 12 7 20
2009-10 57.5 38 12 11 5 20 5 9
New
(A$ Billion) Zealand USA China EU 27 South Korea Japan Other
Manufacturing 1999-00 31.4 21 23 4 24 8 8 12
2009-10 29.1 19 19 18 15 5 4 20
EU = European Union.
Sources: Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES), Australian Commodities, June quarter 2011, vol 18 no 2, June quarter 2011,
Page 145; Austrade
China was Australia’s largest merchandise export destination with a market share of 23 per cent of our total export value in real terms in
2009-10. This figure was up sharply from 5 per cent 10 years ago and reflects the surge in China’s demand for our mineral goods. India
has also emerged as a significant export destination, with a market share of 8 per cent in 2010. With regards to market shares of major
developed economies, Japan remains important accounting for 18 per cent of exports. The shares going to the European Union and the USA
have declined to 8 per cent and 5 per cent respectively.
Section 2 Open Economy > 19

22. Australia’s Rural and Mineral Resources Exports1
Current Price A$ Billion 2011-12F 2007-12F
2006-07 2007-08 2008-09 2009-10 2010-11F 2011-12F % Share YoY % Change % CAGR
Rural
Cereal Grains and Products 4.2 5.0 6.9 5.3 7.3 8.5 3.3 15.9 15.2
Sugar and Honey 1.7 1.2 1.5 2.1 1.4 1.4 0.6 1.7 -2.9
Meat and Meat Preparations 7.1 6.5 7.5 6.4 6.9 6.9 2.7 0.3 -0.6
Wool and Sheepskins 3.1 2.8 2.3 2.3 3.0 3.0 1.2 0.7 -0.1
Other Rural2 14.4 14.5 15.8 14.5 15.4 16.3 6.5 5.8 2.5
TOTAL 30.4 30.0 33.9 30.5 34.0 36.1 14.3 6.2 3.5
Mineral Resources
Coal, Coke and Briquettes 21.9 24.6 55.0 36.8 46.2 60.7 24.0 31.2 22.6
Other Mineral Fuels 15.6 18.9 20.7 19.0 22.8 25.8 10.2 13.0 10.5
Metalliferous Ores and
36.0 42.0 52.7 54.1 80.2 92.0 36.4 14.7 20.6
Other Minerals3, E
Gold 10.7 12.3 17.5 14.3 15.0 20.0 7.9 33.2 13.2
Other Metals4,E 22.3 18.5 14.4 14.0 16.2 18.1 7.2 11.9 -4.1
TOTALE 106.7 116.2 160.2 138.2 180.5 216.6 85.7 20.0 15.2
TOTAL COMMODITIES SECTORE 137.1 146.1 194.1 168.7 214.5 252.7 100.0 17.8 13.0
CAGR = Compound Annual Growth Rate; E = ABARES estimate; F = ABARES forecast; YOY = Year on Year.
1. Balance of payments basis.
2. Includes other farm, forest and fisheries products. Includes exports of wine and of paper and paperboard, which are not included in this balance of payments item
by the ABS.
3. Includes diamonds, which are not included in this balance of payments item by the ABS.
4. Includes ABARES estimates for steel and nickel, which are retained as confidential by the ABS.
Sources: Australian Bureau of Agricultural and Resources Economics and Science (ABARES), June Statistics Data Table 6 ; Australian Bureau of Statistics (ABS), Balance of
Payments and International Investment Position, Australia, Cat. No. 5302.0, Canberra.
Export earnings from the rural and mineral resources sectors are expected to reach a record A$253 billion in 2011-12. This represents an
overall increase of 18 per cent from an estimated A$215 billion in 2010-11. The value of rural exports is predicted to grow by 6 per cent in
2011-12 to A$36 billion, following an estimated rise of 12 per cent to A$34 billion in 2010-11. This forecast increase largely reflects expected
higher farm production and a favourable outlook for agricultural prices on world markets. Export earnings from mineral resources are
projected to jump by 20 per cent in 2011-12 to A$217 billion, following an estimated rise of 31 per cent to around A$181 billion in 2010-11.
Section 2 Open Economy > 20

23. Exports and Imports of Australian Mineral Resources1
160
140
120
100
A$ Billion
80
Exports
60
40
Imports
20
0
1970-71 1973-74 1976-77 1979-80 1982-83 1985-86 1988-89 1991-92 1994-95 1997-98 2000-01 2003-04 2006-07 2009-10
1. Balance of payments basis.
Sources: Australian Bureau of Agricultural and Resource Economics and Sciences, Australian Commodity Statistics 2010, Australian Economy – Resources Sector, Table 37;
Austrade
With the rise in demand for commodities, notably from emerging Asian economies, the value of Australia’s resource exports increased
sharply to around A$137 billion in 2010 from A$45 billion in 2000 and from less than A$25 billion 20 years ago. Imports also rose rapidly,
albeit from a lower base. The import bill of mineral resources was estimated to be around A$40 billion in 2009-10.
Section 2 Open Economy > 21

24. Value of Australian Mineral Exports
A$ Billion by destination
40
37.7
1999-00 2009-10
35
31.1
30
25
20
14.9
13.3
15
11.3
10
5.07
5.12
4.65
3.26
2.96
5
2.77
2.04
1.80
1.54
1.67
0.95
0.95
0.94
0.86
0.86
0.62
1.01
0.61
0.38
0.46
0.31
0
China Japan India South UK Taiwan Singapore USA Germany Netherlands New France Hong
Korea Zealand Kong
CAGR = Compound Annual Growth Rate.
1. Not on a balance of payments basis.
Sources: Australian Bureau of Agricultural and Resource Economics and Sciences , Australian Commodity Statistics 2010, Australian Economy – Resources Sector,
Table 40; Austrade
In 2009-10, Australia’s export earnings from mineral commodities totalled A$135 billion, up sharply from A$43 billion a decade ago. This
represents a CAGR of 12 per cent over the past 10 years. The surge in our export earnings reflects continuing strong growth in demand from
Australia’s major trading partners such as China, Japan, India and South Korea. The combined export value of these top four markets totalled
A$97 billion in 2009-10, significantly up from A$19 billion between 2000 and 2010. The combined market share of these economies has risen
to 72 per cent of mineral exports in 2010 from 44 per cent 10 years ago.
Section 2 Open Economy > 22

25. World Energy Selected Indicators
Energy Net Exports (-)/ Electricity Energy Net Exports (-)/ Electricity
Production Import (+) TPES Consumption1 Production Import (+) TPES Consumption1
(Mtoe) (Mtoe) (Mtoe) (TWh) (Mtoe) (Mtoe) (Mtoe) (TWh)
Region Country/Economy
World 12,369 – 12,267 18,603 Russia 1,254 -537 687 914
OECD 3,864 1,765 5,422 10,097 Saudi Arabia 579 -412 162 187
Asia 1,263 205 1,410 1,570 Norway 220 -189 30 119
Middle East 1,605 -975 594 672 Australia 302 -167 130 240
Africa 1,161 -487 655 562 Indonesia 347 -147 199 134
Latin America 728 -133 575 904 Canada 407 -145 267 568
Country/Economy Kuwait 153 -125 26 46
USA 1,706 634 2,284 4,156 Algeria 162 -124 37 33
Japan 89 419 496 1,031 Iran 327 -123 202 174
Germany 134 211 335 587 Nigeria 227 -115 111 19
China2 1,993 210 2,131 3,293 Venezuela 181 -115 64 86
South Korea 45 195 227 430 UAE 181 -103 58 76
India 468 158 621 645 Qatar 125 -100 24 20
Italy 27 156 176 339 Angola 106 -94 11 3
France 137 139 267 494 Libyan Arab Jamahiriya 104 -85 18 25
Spain 30 123 139 288 Iraq 118 -83 34 36
Taiwan 13 97 105 230 Kazakhstan 148 -77 71 74
Turkey 29 73 99 171 Colombia 94 -60 31 44
Ukraine 81 59 136 164 Turkmenistan 69 -50 19 11
UK 167 58 208 372 Mexico 234 -47 181 215
Belgium 15 56 59 91 Azerbaijan 59 -45 13 20
Singapore 0 56 19 40 Oman 63 -43 16 14
Thailand 64 46 107 140 Trinidad and Tobago 40 -21 19 8
Netherlands 67 34 80 119 Sudan 35 -19 15 4
Poland 71 30 98 142 Malaysia 93 -18 73 94
Mtoe = Million tonnes of oil equivalent; TPES = Total primary energy supply; TWh = Terawatt hours.
UAE = United Arab Emirates. OECD = Organisation for Economic Co-operation and Development.
1. Gross production plus imports minus exports minus losses.
2. Includes Hong Kong.
Sources: The International Energy Agency, 2010 Key World Energy Statistics, Selected Indicators for 2008; Austrade
Australia is one of the top energy export producers. Australia has more than one third of the world’s known economic uranium resources,
very large coal (black and brown) resources that underpin exports and low-cost domestic electricity production, and substantial conventional
gas and coal seam gas resources. This globally significant resource base is capable of meeting both domestic and increased export demand
for energy over the next 20 years and beyond.
Section 2 Open Economy > 23

26. Outlook for World Primary Energy Demand
International Energy Agency (IEA) Reference Scenario
2007 (World Demand: 502,960 PJ) 2030 (World Demand: 702,922 PJ)
Bioenergy 9.8% Other renewables 0.6% Bioenergy 9.6% Other renewables 2.2%
Hydro 2.2%
Coal 26.5% Hydro 2.4% Coal 29.1%
Nuclear 5.9% Nuclear 5.7%
Gas 21.2%
Oil 34.1% Oil 29.8%
Gas 20.9%
Note: This assessment and report was commissioned by the Australian Government Department of Resources, Energy and Tourism (RET) and jointly undertaken by
Geoscience Australia and Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).
Petajoule (PJ) = 1015 joules, the standard form of reporting energy aggregates. One petajoule is equivalent to 278 gigawatt-hours.
Sources: Australian Energy Resource Assessment, Chapter 2: Australia’s Energy Resources And Market, Chart 2.6, Page 15; Austrade
In its 2009 World Energy Outlook reference scenario (which assumes no change in policy settings), the International Energy Agency (IEA)
projects a 40 per cent growth of global primary energy demand between 2007 and 2030. This represents an average annual growth rate of
1.5 per cent, with the bulk of this increased demand driven by non-OECD countries. China and India are forecast to account for more than
half of the increase over this period.
Section 2 Open Economy > 24