Phase 2 country report 2011

LITERATURE SURVEY

This report says that at 30 June 2010 the country population was 22,342,000. There was an increase of 1.7% of population i.e., 377,100 person since 30 June 2009 and 70,500 persons since 31 March 2010. This increase was the lowest recorded since the year ended June 2007. The net overseas migration recorded for the year ended 30 June 2009. All states and territories shows positive population growth over the 12 months ended 30 June 2010. Western Australia recorded the largest percentage growth of 2.2% and Tasmania shows the smallest growth 0.9%. The estimated birth during the year ended 30 June 2010 was 1.7% (302,200) higher than the year ended 30 June 2010 ie, 297,100. The estimated deaths during the year ended 30 June 2010 i.e, 140,600 was 2.2% lower than the year ended 30 June 2009 i.e., 143,700. Australia Population is ageing as a result of sustainable low fertility and increased life expectancy. From 30 June 2009 and 2010 the median age remained steady at 36.8 years. Population ageing had/have significant implication for Australia. It affects health, labour rate and unemployment rate. Tasmania has the oldest population with median age of 39.9 years then South Australia with a median age of 39.2 years. The aged with the largest number of population is 25 years having 340,000 people. Children of age 0-14 years in the population increased by 44,600 then previous years. Western Australia shows the largest percentage increase of 1.6% in the number of children age 0-14 years. Between 30 June 1990 and 30 June 2010, children aged 0-14 shows decline of 3.1% from 22% to 18.9%. The working age population increased by 1.6% (237,700 persons) in the year ended 30 June 2010. The proportion of population aged 15-64 years increased from 66.9% to 67.6%. The older population aged shows 3.3% increased than previous years. The Australian economy is a developed one and capitalistic in nature, with a GDP of approximately US$1.23 trillion. In 2011, it was the 13th largest national economy by nominal GDP, representing about 1.7% of the World economy. Australia was also ranked the 19th largest importer and 19th largest exporter. In 2011 the Australian economy is the fastest growing advanced economy in the world .The Australian economy is dominated by its service sector, representing 68% of Australian GDP. The agricultural and mining sectors (10% of GDP combined) account for 57% of the nation's exports. The Australian economy is dependent on imported crude oil and petroleum products; the economys petroleum import dependency is around 80% - crude oil and petroleum products. In the second half of the twentieth century, Australian trade shifted away from Europe and North America to Japan and other East Asian markets.
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Phase 2 country report 2011

Australia has a sophisticated financial services sector and is ideally positioned as a center for the Asia-Pacific region. This is demonstrated by deep and liquid financial markets and regional leadership in investment management as well as in areas including infrastructure financing and structured products. The Australian Government is committed to building upon Australias strong regulatory environment and financial sector expertise, and firmly establishing Australia as a financial center in the region. The government is taking a number of initiatives to support this objective. Highly developed financial markets make Australia one of the major centers of capital markets activity in Asia and Australias large and mature financial services sector has assets of more than A$4.3 trillion, which is equivalent to almost four times GDP. The government is also looking at opportunities for simplification of Australias financial services regulation and negotiating mutual recognition agreements with key international markets. Agreements have already been signed with the United States, Hong Kong and New Zealand. In addition, the government has secured Australias status as an approved destination for investment funds under Chinas Qualified Domestic Institutional Investor program.
ENERGY-

Australia is a sunny place, with over 90 per cent of the continent absorbing solar radiation of over 1950 kilowatt hours per square meter per year. Australias solar industry is internationalized, advanced and has been growing strongly, backed by the combination of a highly skilled workforce, a competitive electricity market, world class research and development facilities and strong government support. The CSIRO, Australias premier research body, is undertaking a range of solar initiatives Wind energy is a growth market in Australia a well-established industry backed by a large and growing domestic energy market. There is no shortage of land on the Australian continent for large scale wind farm technology installations, and specialized service skills are available across the sector .The CSIRO also has a Wind Energy Research Unit which is working on the potential for wind energy across the country. Australia has immense potential in geothermal energy a potential now being realized through an upsurge in exploration for geothermal resources and investment in this low emissions energy technology. Ernst & Young assessment of country attractiveness in the geothermal industry ranked Australia fourth due to significant resources and large market potential, ahead of such major geothermal countries as Japan. The Australian Government is supporting the development of the countrys geothermal industry through a A$58.9 million Energy Security Program to acquire and generate pre-competitive geo-scientific data on Australias onshore resource potential in geothermal energy resources suitable for base load electricity generation. The biofuels industry primarily ethanol and biodiesel uses fuel from living or recently living biological material. There are a number of different sources of ethanol and biodiesel in use across Australia .The biofuels industry in Australia has strong Government support, which includes funding of A$16 million for the National Collaborative Research Infrastructure Strategy biofuels project and A$2.8 million for the Second Generation Biofuels Research and Development Program.
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Phase 2 country report 2011

Carbon Trading-Australia is well placed to become the carbon trading hub for the rapidly growing Asia-Pacific region: as the dust settles from the global financial crisis Australia continues to be one of the worlds most resilient economies; and Australia also has robust and sophisticated financial markets. Australia is home to a range of world class organizations capable of delivering services across the entire carbon value chain. These range from the measurement and monitoring of emissions to environmental feasibility studies, project design, development and documentation, validation, verification and auditing services. Australian financial service firms have extensive experience trading in the commodity and electricity markets. Energy efficiency using less energy to provide the same level of service is one of the keys to reducing greenhouse emissions and creating a low carbon economy. Much is being done in Australia in this area. Environmental services and Technologies-Australia has a thriving marketplace in Environmental Services and Technology. Deep concern within the country about the state of the environment is reflected in both regulations and expenditure on environmental services. Australia has much to offer in the specialist areas of environmental monitoring, impact assessment, waste management, recycling and remediation. Skilled and experienced personnel, innovative technologies, and strong research and development underpin a growing market for international investment.
BIOTECHNOLOGY-

Australia is home to a thriving network of 470 biotechnology companies. Of these, 49 per cent are involved in therapeutics, 15 percent in agricultural biotechnology and 13 per cent in diagnostics. The Bio Industry Review reported that 399 alliances had been announced involving Australian life science companies in the previous 12 months. Of these, over 70 per cent were with international organizations 101 with North American organizations, 100 with European organizations and 57 with Asian organizations.
INFRASTRUCTURE-

Australia has a high level of infrastructure activities. As population centers expand, local governments have increased spending on large-scale infrastructure projects. Together with the resource sector boom, this accounts for extremely high levels of activity in the civil engineering and construction sector. In particular, transport and utilities projects have become a focus for long-term investment. More recently, the Government established Infrastructure Australia to coordinate a national approach to Australias future infrastructure needs. The agency has completed an audit of the nations economic assets and identified key themes to drive development of Australias infrastructure. These include: broadband; energy grids: port productivity and land transport; public transport; and water supply.
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Phase 2 country report 2011

Australia has a proud record of originality in advanced manufacturing. It is the country that gave birth to the ultrasound scanner, the black box flight recorder and the bionic ear. Today, advanced manufacturing accounts for around half of Australias A$104 billion annual manufacturing output and is one of the fastest growing export sectors. Part of this success is due to cross-fertilization between R&D institutions and the manufacturing sector. For example, co-operative research centers have been established to provide links between industry and the research community. They help to commercialize technologies in specialist fields such as advanced composite structures, automotive technologies, cast metals manufacturing, railway engineering, polymers and spatial information.
FOOD AND BREVERAGES-

Food and beverage is a major industry sector for the Australian economy, in terms of both its financial contribution and employment. Food and beverage processing is Australia's largest manufacturing industry, accounting for around 18 per cent of manufacturing employment. Industry players are diverse in size - from multinationals producing large volume fast-moving consumer goods through to smaller players. Australia has a reputation for supplying clean and natural products with low chemical residues. Quality and safety is paramount with strict safety standards regulated and enforced along the supply chain. Excellent R&D facilities, both public and private, assist in the innovation process by facilitating development of new and differentiated products, as well as continual improvements to packaging and production processes.
RESOURCES-

Thanks to abundant mineral resources, skilled industry professionals, advanced extraction processes and cutting-edge technology, Australia is a leader in the global mineral industry. Australia has the worlds largest reserves of lead, nickel, uranium and zinc. It is the worlds largest producer of bauxite and alumina (using the Economic Demonstrated Reserves (EDR) measure) the second largest producer of zinc ore and nickel, and the third largest producer of iron ore and gold. Mining and minerals activity currently comprises approximately eight per cent of the Australian economy, and 40 per cent of exports. The scale of our resource industry has helped Australia become a world leader in the development and manufacture of mining equipment, technology and services (METS). Australian firms are competitive right across the supply chain, which includes exploration, engineering, minerals processing, environmental management, mine safety, R&D and training
AGRICULTURE-

The Australian agribusiness sector occupies a significant place in the Australian economy and has a strong track record in attracting international investment throughout the agricultural supply chain. Australias diverse climate, rainfall patterns and soil types sustain a wide range of agribusiness enterprises, including: tropical and temperate horticulture; inland and coastal aquaculture; the production of grains, oilseeds and fibers; grazing and feed lotting of livestock; thoroughbred breeding, forestry and the production of timber products. Australia enjoys several advantages. Our geographic isolation and leading quarantine and monitoring regime help preserve a reputation for high quality production. Proximity to Asian
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Phase 2 country report 2011

economies, extensive free trade agreements and counter-seasonal production for the northern hemisphere means that trans-national companies sourcing from Australia can deliver produce throughout the year; this assists to drive demand for Australias products in world markets.

This is the summary of the Australia Country Report taken from ABS(Australia Bureau of Statistics, IMF.

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