Australia now world's 12th-largest economy

[Rajaraja Chola]

Australia has a small population, yet they have one of the largest economies in the world. It is quite remarkable.

Australia and Germany are the two Western nations that the others should learn from, they are outperforming all the other Western economies by a significant margin.

Yes, they have small population but have the world's largest reserves in coal, iron, Mg, Gold Uranium and what not?
Their Economy runs very much on raw materials !! Without that, economy will be very less !! Much like Saudi Arabia they are !!

They have an economy which is resource based .. Just like Saudi Arabia.. When the resources runout or demand falters .. Then it will be interesting to see what happens

Australia have understood this population probelm !! Thats y u me or any other can get an easy VISA to Australia !!
They want to increase the population to make it a industrial economy, which have shown limited success till now !! But in next 30 years or so, this might prove successfull !!

 

[Zabaniyah]

2011 australian gdp growth rate --1.8%
2011 indian gdp growth rate--6.56%

bit*ch please !!

Developed nations always have a lower growth rate than developing nations. Given that Australia is a developed nation, and at 1.8%, that is in fact a very good indicator.

Anyways, well done Aussies

 

[phylumchordata]

Developed nations always have a lower growth rate than developing nations. Given that Australia is a developed nation, and at 1.8%, that is in fact a very good indicator.

Anyways, well done Aussies

thanks for your precious knowledge..what would we do without you!!!

 

[blood]

Developed nations always have a lower growth rate than developing nations. Given that Australia is a developed nation, and at 1.8%, that is in fact a very good indicator.

Anyways, well done Aussies

and thus they would not be able to replace india ...

 

[isro2222]

i remember still that it was india who took over australia and now india eyein on uk and than brazil.... i heard that indian GDP now nearly 2 trillion.... i think next 10 years india will leave many countries behind. but for that BJP is must.... Congress looted india totaly.... Yet we grew....

 

[karan21]

Well Australia has certainly become tiger economy again, but not by itself. All because of China. China till date have invested $50 bill in Aus. They have another $226 bill in pipeline mostly from China and then India. They are rich in resources and Asia is rich in population and money.

I think Aus can be a top 10 economy beating many expectations. They will get millions of workers and students from China and India and Billions of investments from all BRICs.

 

[Icecreamcart]

Yay us.
But Australia is still going to suffer under any China slowdown.

Hopefully the Australian economy can be less reliant on China's. It's never good to put all your eggs in one basket.

 

[Viet]

Australia is really a paradise, especially for Asians including us the Vietnamese.

 

[Developereo]

Much like Saudi Arabia they are !!

Good morning, Master Yoda.

 

[xdrive]

Good morning, Master Yoda.

Hahahaha!

 

[Wright]

Quite a feat for their small population. Saudia Arabia has the worlds largest oil reseves, and is nowhere near the trillion dollar mark. It is not all about resources.

 

[theniubt]

Congrats to Australia. One of the places that I've always wanted to visit xD

 

[Luffy 500]

People are forgetting that AUS has been gifted with one of the largest reserves of most type of natural resource in addition to a continent size land area. Mining is a major part of AUS economy but then again its a decent feat considering their small population.

 

[t_for_talli]

Australia has a small population, yet they have one of the largest economies in the world. It is quite remarkable.

Australia and Germany are the two Western nations that the others should learn from, they are outperforming all the other Western economies by a significant margin.

what????????????

 

[isro2222]

i think australia comes in asia.... it sounds weird but its the truth.... Australia always takes part in asian cup.... Australia will hold 2015 asian cup too.... but yes australia more of a Europian country than asian.... Its the uk who created australia and aussies has brit genes....