Background:

Aboriginal settlers arrived on the continent from Southeast Asia about 40,000 years before the first Europeans began exploration in the 17th century. No formal territorial claims were made until 1770, when Capt. James COOK took possession in the name of Great Britain. Six colonies were created in the late 18th and 19th centuries; they federated and became the Commonwealth of Australia in 1901. The new country took advantage of its natural resources to rapidly develop its agricultural and manufacturing industries and to make a major contribution to the British effort in World Wars I and II. In recent decades, Australia has transformed itself into an internationally competitive, advanced market economy. Long-term concerns include pollution, particularly depletion of the ozone layer, and management and conservation of coastal areas, especially the Great Barrier Reef. A referendum to change Australia's status, from a commonwealth headed by the British monarch to a republic, was defeated in 1999.

Location:

Oceania, continent between the Indian Ocean and the South Pacific Ocean

Geographic coordinates:

27 00 S, 133 00 E

Area:

total: 7,686,850 sq km
land: 7,617,930 sq km
water: 68,920 sq km

Land boundaries:

0 km

Coastline:

25,760 km

Elevation extremes:

lowest point: Lake Eyre -15 m
highest point: Mount Kosciuszko 2,229 m

Natural resources:

bauxite, coal, iron ore, copper, tin, gold, silver, uranium, nickel, tungsten, mineral sands, lead, zinc, diamonds, natural gas, petroleum

Geography - note:

world's smallest continent but sixth-largest country; population concentrated along the eastern and southeastern coasts; regular, tropical, invigorating, sea breeze known as "the Doctor" occurs along the west coast in the summer

Population:

19,913,144 (July 2004 est.)

Country name:

conventional long form: Commonwealth of Australia
conventional short form: Australia

Government type:

democratic, federal-state system recognizing the British monarch as sovereign

Capital:

Canberra

Administrative divisions:

6 states and 2 territories*; Australian Capital Territory*, New South Wales, Northern Territory*, Queensland, South Australia, Tasmania, Victoria, Western Australia

Independence:

1 January 1901 (federation of UK colonies)

National holiday:

Australia Day, 26 January (1788)

Constitution:

9 July 1900, effective 1 January 1901

Flag description:

blue with the flag of the UK in the upper hoist-side quadrant and a large seven-pointed star in the lower hoist-side quadrant known as the Commonwealth Star, representing the federation of the colonies of Australia in 1901; the star depicts one point for each of the six original states and one representing all of Australia's internal and external territories; the remaining half is a representation of the Southern Cross constellation in white with one small five-pointed star and four larger, seven-pointed stars

Economy - overview:

Australia has an enviable Western-style capitalist economy, with a per capita GDP on par with the four dominant West European economies. Rising output in the domestic economy has been offsetting the global slump, and business and consumer confidence remains robust. Australia's emphasis on reforms, low inflation, and growing ties with China are other key factors behind the economy's strength. The impact of drought, weak foreign demand, and strong import demand pushed the trade deficit up to $14 billion in 2003 and to $11 billion in 2004 from $5 billion in 2002. One other concern is the domestic housing bubble.

GDP:

purchasing power parity - $571.4 billion (2003 est.)

GDP - real growth rate:

3% (2003 est.)

Labor force:

10.19 million (37256)

Industrial production growth rate:

-0.1% (2003 est.)

Exports:

$68.67 billion (2003 est.)

Exports - partners:

Japan 18.1%, US 8.7%, China 8.4%, South Korea 7.4%, New Zealand 7.4%, UK 6.7% (2003)

Imports:

$82.91 billion (2003 est.)

Imports - partners:

US 16%, Japan 12.5%, China 11%, Germany 6.1%, UK 4.2% (2003)

Currency:

Australian dollar (AUD)

Currency code:

AUD

Fiscal year:

1 July - 30 June