Changes

[[Australia]] is a Developed Country with a Capitalist economy. It has a very small population compared to other Western Countries like the [[USA]] and the [[UK]] but despite this it is in the top 15 Countries by Gross Domestic Product (a measure of wealth of a nation).

[[Australia]] is a developed country with a capitalist economy. It has a very small population compared to other Western countries like the [[USA]] and the [[UK]] but despite this it is in the top 15 countries by Gross Domestic Product (a measure of wealth of a nation).

==Exports and Imports==

==Exports and Imports==

==Strong growth==

==Strong growth==

Australia’s strong trade market is generally attributed to its 2 decades of continuous growth at above average rates. This is really remarkable after considering the fact that there have been 2 recessions in that time frame (the Early 2000s recession and the current recession). Australia is the only western nation that isn’t in recession currently due to the Global Economic crisis. Australia’s GDP reached over $1 trillion in the mid - late 2000’s and this has been the result of the booming trade in some states like Western Australia where the exports account for twice as much value than their imports.  

Australia’s strong trade market is generally attributed to its 2 decades of continuous growth at above average rates. This is really remarkable after considering the fact that there have been 2 recessions in that time frame (the early 2000s recession and the current recession). Australia is the only western nation that isn’t in recession currently due to the Global Economic crisis. Australia’s GDP reached over $1 trillion in the mid - late 2000’s and this has been the result of the booming trade in some states like Western Australia where the exports account for twice as much value than their imports.  

==Businesses==

==Businesses==

==Unemployment==

==Unemployment==

The unemployment rate in Australia is currently 5.5% and despite the Global financial crisis the unemployment rate had never went over 6%, instead peaking at at only 5.8% in October 2009. This is unlike the US where the unemployment rate went over 10% despite massive stimulus. [http://www.theaustralian.com.au/business/markets/total-employment-soars-by-35200-amid-consensus-for-10000-australian-bureau-of-statistics/story-e6frg926-1225819149211] [http://www.news.com.au/business/jobless-rate-falls-to-55pc-in-december/story-e6frfm1i-1225819147794]

The unemployment rate in Australia is currently 5.5% and despite the global financial crisis, the unemployment rate had never gone over 6%, instead peaking at at only 5.8% in October 2009. This is unlike the US where the unemployment rate went over 10% despite massive stimulus. [http://www.theaustralian.com.au/business/markets/total-employment-soars-by-35200-amid-consensus-for-10000-australian-bureau-of-statistics/story-e6frg926-1225819149211] [http://www.news.com.au/business/jobless-rate-falls-to-55pc-in-december/story-e6frfm1i-1225819147794]

==Further reading==

==Further reading==