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The Economist Intelligence Unit provides a constant flow of analysis and forecasts on more than 200 countries and eight key industries. We help executives make informed business decisions through dependable intelligence delivered online.

EIU Australia

Overview

The main opposition Labor Party holds a commanding lead in the opinion polls ahead of the general election, which is expected in November 2007. The prime minister, John Howard, has been criticised on a range of issues by the Labor leader, Kevin Rudd. Mr Rudd is articulating well the concerns of voters, something that his predecessors failed to do, and is also the beneficiary of growing popular disillusionment with the government. Strong domestic demand has created inflationary pressures in Australia's economy, and interest rates are therefore likely to remain high over the forecast period. Annual GDP growth is forecast to slow to an average of 3.1% in 2008-09. The current-account deficit will remain large, at an average of 5.9% of GDP in 2008-09.

Key Reports Available for Australia
  • Country Report
  • Country Profile
  • Country Forecast
  • Country Finance
  • Country Commerce
  • Country Risk Service
  • Basic Data

    Land area
    7,682,400 sq km (61% agricultural, 5% forest)
    Population
    21,017,200 (June 2007)
    Main towns
    Population in '000 (June 2006):
    Sydney: 4,284
    Melbourne: 3,471
    Brisbane: 1,629
    Perth: 1,393
    Adelaide: 1,108
    Canberra (capital): 319
    Climate
    Temperate in the south; subtropical or tropical in the north; hot and dry inland
    Weather in Canberra (altitude 560 metres)
    Hottest months, January and February, 13-28°C; coldest month, July, 0-11°C (average daily minimum and maximum); driest month, June, 37 mm average rainfall; wettest month, October, 69 mm average rainfall
    Language
    English
    Measures
    Metric system
    Currency
    Australian dollar=100 cents. Average exchange rate in 2007: A$1.192:US$1; exchange rate on January 31st 2008: A$1.115:US$1
    Time
    Hours ahead of GMT (summer time in brackets):
    New South Wales, Tasmania, Victoria & the Australian Capital Territory: 10 (11)
    Queensland: 10
    Northern Territory: 9.5
    South Australia: 9.5 (10.5)
    Western Australia: 8
    Fiscal year
    July 1st-June 30th. Most Australian statistics are reported on a fiscal-year basis
    Public holidays
    January 1st (New Year's Day); January 26th (Australia Day); March 21st-24th 2008 (Easter), April 25th (Anzac Day); second Monday in June (June 9th 2008, the Queen's Birthday, except Western Australia); December 25th (Christmas Day); December 26th (Boxing Day, Proclamation Day in South Australia)


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