Editing Economy of Australia (section)

==Sectors==
[[File:ABS-5676.0-BusinessIndicatorsAustralia-BusinessGrossOperatingProfitsCurrentPrices-GrossOperatingProfits-TotalState-TotalIndustry-CurrentPrice-TotalScp scope-A3531229A.svg|thumb|right|Gross operating profits across all industries since 1994 ($millions/quarter)]]
{{Main|List of largest Australian companies}}

===Industry===

====Mining====
{{Main|Coal companies of Australia|Energy in Australia|Mining in Australia}}
[[File:Australian Energy resources and major export ports map.svg|thumb|right|Australian energy resources and major export ports map]]

In 2019, the country was the 2nd largest world producer of [[gold]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gold.pdf USGS Gold Production Statistics]</ref> 8th largest world producer of [[silver]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-silver.pdf USGS Silver Production Statistics]</ref> 6th largest world producer of [[copper]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-copper.pdf USGS Copper Production Statistics]</ref> the world's largest producer of iron ore;<ref>[https://pubs.usgs.gov/periodicals/mcs2020/mcs2020-iron-ore.pdf USGS Iron ore Production Statistics]</ref> the world's largest producer of [[bauxite]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-bauxite-alumina.pdf USGS bauxite alumina Production Statistics]</ref> the 2nd largest world producer of [[manganese]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-manganese.pdf USGS Manganese Production Statistics]</ref> 2nd largest world producer of [[lead]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-lead.pdf USGS Lead Production Statistics]</ref> 3rd largest world producer of [[zinc]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-zinc.pdf USGS Zinc Production Statistics]</ref> 3rd largest world producer of [[cobalt]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-cobalt.pdf USGS Cobalt Production Statistics]</ref> 3rd largest producer of [[uranium]];<ref>{{Cite web|url=http://www.world-nuclear.org/info/inf23.html|title=World Uranium Mining|access-date=28 April 2021|archive-date=26 December 2018|archive-url=https://web.archive.org/web/20181226012424/http://www.world-nuclear.org/information-library/nuclear-fuel-cycle/mining-of-uranium/world-uranium-mining-production.aspx|url-status=dead}}</ref> 6th largest producer of [[nickel]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-nickel.pdf USGS Nickel Production Statistics]</ref> 8th largest world producer of [[tin]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-tin.pdf USGS Tin Production Statistics]</ref> 14th largest world producer of [[phosphate]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-phosphate.pdf USGS Phosphate Production Statistics]</ref> 15th largest world producer of [[sulfur]];<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-sulfur.pdf USGS Sulfur Production Statistics]</ref> in addition to being the 5th largest world producer of [[table salt|salt]].<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-salt.pdf USGS Salt Production Statistics]</ref> The country is also a major producer of precious stones. Australia is the world's largest producer of [[opal]] and is one of the largest producers of [[diamond]], [[ruby]], [[sapphire]] and [[jade]]. In non-renewable energies, in 2020, the country was the 30th largest producer of [[oil]] in the world, extracting 351.1 thousand barrels / day.<ref name="eia.gov">[https://www.eia.gov/international/data/world/petroleum-and-other-liquids/annual-petroleum-and-other-liquids-production Annual petroleum and other liquids production]</ref> In 2019, the country consumed 1 million barrels / day (20th largest consumer in the world).<ref>[https://www.bp.com/content/dam/bp/en/corporate/pdf/energy-economics/statistical -review / bp-stats-review-2020-full-report.pdf Statistical Review of World Energy, June 2020] {{Dead link|date=January 2022 |bot=InternetArchiveBot |fix-attempted=yes}}</ref><ref>[https://www.cia.gov/library/publications/the-world -factbook / rankorder / 2246rank.html The World Factbook – Central Intelligence Agency]{{dead link|date=July 2022|bot=medic}}{{cbignore|bot=medic}}</ref> The country was the 20th largest oil importer in the world in 2018 (461.9 thousand barrels / day).<ref name="eia.gov"/> In 2015, Australia was the 12th largest world producer of [[natural gas]], 67.2 billion m3 per year. In 2019, the country was the 22nd largest gas consumer (41.9 billion m3 per year) and was the 10th largest gas exporter in the world in 2015: 34.0 billion m3 per year.<ref>{{Cite web|url=https://www.cia.gov/library/publications/the-world-factbook/rankorder/2249rank.html|title=CIA. The World Factbook. Natural gas – production.|access-date=28 April 2021|archive-date=15 March 2016|archive-url=https://web.archive.org/web/20160315051210/https://www.cia.gov/library/publications/the-world-factbook/rankorder/2249rank.html|url-status=dead}}</ref> In the production of [[coal]], the country was the 4th largest in the world in 2018: 481.3 million tons. Australia is the 2nd largest coal exporter in the world (387 million tons in 2018).<ref>[https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world -energy.html Statistical Review of World Energy 2018] {{Dead link|date=January 2022 |bot=InternetArchiveBot |fix-attempted=yes}}</ref>

In 2014–15 [[mineral extraction]] in Australia was valued at 212&nbsp;billion Australian dollars. Of this, coal represented 45,869&nbsp;million, oil and natural gas 40,369&nbsp;million, iron ore 69,486&nbsp;million, gold ore 13,685&nbsp;million, and other metals 7,903&nbsp;million.<ref>{{cite web|url=http://www.abs.gov.au/ausstats/abs@.nsf/0/D96FCC4AEEA50923CA2568A90013940B?Opendocument|title=ABS – Mining|date=27 May 2016}}</ref>

Coal is mined primarily in Queensland, New South Wales and Victoria. Fifty-four per cent of the coal mined in Australia is exported, mostly to East Asia. In 2000–01, 258.5&nbsp;million tonnes of coal was mined, and 193.6&nbsp;million tonnes exported. Coal provides about 85% of Australia's electricity production.<ref name="modern">{{cite web|url=http://www.gc3.cqu.edu.au/modern-world/index.php#australia|title=The Importance of Coal in the Modern World – Australia|publisher=Gladstone Centre for Clean Coal|access-date=17 March 2007|archive-url=https://web.archive.org/web/20070208111031/http://gc3.cqu.edu.au/modern-world/index.php#australia|archive-date=8 February 2007|url-status=dead}}</ref> In fiscal year 2008–09, 487 million tonnes of coal was mined, and 261&nbsp;million tonnes exported.<ref name="ABARE2009">{{cite web|url=http://www.abareconomics.com/publications_html/ams/ams_09/ams_sept09.pdf|title=Australia Mineral Statistics 2009– June Quarter|publisher=Australian Bureau of Agricultural and Resource Economics|access-date=3 October 2009|url-status=dead|archive-url=https://web.archive.org/web/20110707074336/http://www.abareconomics.com/publications_html/ams/ams_09/ams_sept09.pdf|archive-date=7 July 2011}}</ref> Australia is the world's leading coal exporter.<ref name="CoalInfo2008">International Energy Agency. (31 August 2008) Coal Information 2008. Organisation for Economic Cooperation & Development. {{ISBN|92-64-04241-5}}</ref>

The Australian mining corporations [[Rio Tinto Group]] and [[BHP]] are among the largest in the world.

Rio Tinto's [[Argyle diamond mine|Argyle mine]] in Western Australia was the second-largest diamond mine in the world. The Argyle mine opened in 1983 and has produced more than 95 per cent of Australia's diamonds, including some of the world's most valuable [[pink diamond|pink]] and [[red diamond]]s.<ref name="bipash">{{cite news|last1=Pash|first1=Chris|title=Australia's biggest diamond mine is running out of diamonds|url=https://www.businessinsider.com.au/australias-biggest-diamond-mine-is-running-out-of-diamonds-these-are-the-key-players-in-the-race-to-replace-argyle-2018-3|access-date=8 January 2020|work=Business Insider Australia|date=29 March 2018|language=en|archive-date=14 November 2020|archive-url=https://web.archive.org/web/20201114164631/https://www.businessinsider.com.au/australias-biggest-diamond-mine-is-running-out-of-diamonds-these-are-the-key-players-in-the-race-to-replace-argyle-2018-3|url-status=dead}}</ref> Due to the depletion of ore, Argyle closed in 2020—the closure was expected to reduce Australia's yearly diamond output from 14.2 million carats to 134.7 thousand carats.<ref name="miningtech">{{cite news|title=Outlook for diamond mining in Australia after 2021 Argyle mine closure|url=https://www.mining-technology.com/comment/outlook-for-diamond-mining-in-australia/|access-date=8 January 2020|work=Mining Technology|date=2 July 2019|archive-date=29 October 2020|archive-url=https://web.archive.org/web/20201029024148/https://www.mining-technology.com/comment/outlook-for-diamond-mining-in-australia/|url-status=dead}}</ref>

====Manufacturing====
{{Main|Manufacturing in Australia}}
The manufacturing industry in Australia has declined from 30% of GDP in the 1960s to 12% of GDP in 2007.<ref>{{cite web|url=http://www.blakemore.com.au/papers/Australia%20Made%20Paper.pdf|title=Australian Manufacturing (PDF)|access-date=20 May 2014|url-status=dead|archive-url=https://web.archive.org/web/20140125015016/http://blakemore.com.au/papers/Australia%20Made%20Paper.pdf|archive-date=25 January 2014}}</ref>

In 2008, four companies mass-produced cars in Australia.<ref name="goauto.com.au">{{cite web|last=Hassall|first=David|url=http://www.goauto.com.au/mellor/mellor.nsf/story2/1B11FCD261CC6475CA2579DE00021DC5|title=Tomcar – New local vehicle manufacturer|publisher=GoAuto|date=12 April 2012|access-date=10 February 2014|archive-date=2 January 2013|archive-url=https://web.archive.org/web/20130102052652/http://www.goauto.com.au/mellor/mellor.nsf/story2/1B11FCD261CC6475CA2579DE00021DC5|url-status=dead}}</ref> [[Mitsubishi Motors Australia|Mitsubishi]] ceased production in March 2008, followed by [[Ford Australia|Ford]] in 2016, and [[Holden]] and [[Toyota Australia|Toyota]] in 2017.<ref>{{cite news|url=http://www.abc.net.au/news/2017-10-03/toyota-car-production-ends-altona-after-50-years-manufacturing/9007624|title=Toyota workers out of jobs as car manufacturer closes Altona plant|publisher=ABC News|location=Australia|date=6 December 2017|access-date=9 October 2017}}</ref>

Until [[Free trade|trade liberalisation]] in the mid-1980s, Australia had a large textile industry.<ref name="cie-report-tradelib">{{cite web|last1=CIE|title=Final Report: Australian trade liberalisation – Analysis of the economic impacts|url=https://dfat.gov.au/about-us/publications/trade-investment/Documents/cie-report-trade-liberalisation.pdf|publisher=DFAT|access-date=15 January 2020|archive-url=https://web.archive.org/web/20200115231339/https://dfat.gov.au/about-us/publications/trade-investment/Documents/cie-report-trade-liberalisation.pdf|archive-date=15 January 2020|url-status=dead}}</ref> This decline continued through the first decade of the 21st century.<ref name="trends07">{{cite web|url=http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp0809/09rp16|title=Australian manufacturing—structural trends 2001–02 to 2006–07|date=24 November 2008|access-date=9 July 2014}}</ref> Since the 1980s, tariffs have steadily been reduced; in early 2010, the tariffs were reduced from 17.5 per cent to 10 per cent on clothing, and 7.5–10% to 5% for footwear and other textiles.<ref>{{cite web|url=http://www.acci.asn.au/text_files/media_releases/2010/003-10.pdf|title=ACCI Welcomes textiles and car tariff cuts (ACCI media release 003/10)|author=Peter Anderson|date=1 January 2010|access-date=13 February 2010}}</ref>
As of 2010, most textile manufacturing, even by Australian companies, is performed in Asia.
[[File:ABS-6291.0.55.003-LabourForceAustraliaDetailedQuarterly-EmployedPersonsByIndustrySubdivisionSex-EmployedTotal-TextileLeatherClothingFootwearManufacturing-Persons-A2546111A.svg|thumb|right|300px|Total employment in Australian textile, clothing and footwear manufacturing (thousands of people) since 1984]]

====Agriculture====
{{Main|Agriculture in Australia|Australian wine}}
In 2019, the value added from agriculture, fishing and forestry combined made up approximately 2.1% of Australia's GDP.<ref>{{Cite web|url=https://data.worldbank.org/indicator/NV.AGR.TOTL.ZS?locations=AU|title=Agriculture, forestry, and fishing, value added (% of GDP) – Australia &#124; Data}}</ref> 60% of farm products are exported. [[Irrigation in Australia|Irrigation]] is an important and widespread practice for a country where many parts receive low rainfall. Agriculture, forestry and fishing was the second-strongest {{clarify|strongest how?|date=December 2020}} industry from 2013 to 2015, with the number of employees growing from 295,495 in February 2013 to 325,321 in February 2015.<ref>[http://www.finder.com.au/press-release-careers-in-australia finder.com.au's Careers in Australia Report 2015]</ref>

===Services===
[[Information technology|IT]]-related jobs (such as computer [[systems design]] and engineering) are defined as Professional, Scientific and Technical Services by the Department of Education, Employment and Workplace Relations of Australia. IT job creation occurs mostly in the [[List of Australian capital cities|state capital cities of Australia]].<ref>{{cite web|url=http://www.deewr.gov.au/Employment/ResearchStatistics/Documents/AustralianJobs.pdf|title=Employment Research Statistics|work=deewr.gov.au|access-date=20 May 2014|archive-url=https://web.archive.org/web/20120322131845/http://www.deewr.gov.au/Employment/ResearchStatistics/Documents/AustralianJobs.pdf|archive-date=22 March 2012|url-status=dead}}</ref>

====Finance====
Australia's "[[Big Four (banking)#Australia/New Zealand|big four banks]]" ([[National Australia Bank]], [[Commonwealth Bank]], [[Australia and New Zealand Banking Group]] and [[Westpac]]) are among the 'World's 50 Safest Banks' as of April 2012.<ref>{{cite web|url=http://www.gfmag.com/tools/best-banks/11661-worlds-50-safest-banks-april-2012.html|title=WORLD'S 50 SAFEST BANKS 2012 &#124; Global Finance|publisher=Gfmag.com|access-date=24 July 2012|archive-url=https://web.archive.org/web/20120729074232/http://www.gfmag.com/tools/best-banks/11661-worlds-50-safest-banks-april-2012.html|archive-date=29 July 2012|url-status=dead}}</ref>

Between 1991 and 2013, 36,720 [[mergers and acquisitions]] with a total known value of US$2,040&nbsp;billion with the involvement of Australian firms have been announced.<ref>{{cite web|url=http://www.imaa-institute.org/statistics-mergers-acquisitions.html#MergersAcquisitions_Australia|title=Statistics on Mergers & Acquisitions (M&A) – M&A Courses &#124; Mergers & Acquisitions Courses|publisher=Imaa-institute.org|access-date=2 January 2014|url-status=dead|archive-url=https://web.archive.org/web/20120106045040/http://www.imaa-institute.org/statistics-mergers-acquisitions.html#MergersAcquisitions_Australia|archive-date=6 January 2012}}</ref> In the year 2013, 1,515 transactions valued at US$78&nbsp;billion had been announced which was a decrease in terms of numbers (−18%) and value (−11%) compared to 2012. The largest takeover or merger transaction involving Australian companies was the 2007 takeover of the [[Coles Group]] by [[Wesfarmers]], totalling A$22&nbsp;billion.<ref>{{cite news|last=Carson|first=Vanda|title=Wesfarmers buys Coles|url=http://www.theage.com.au/news/business/wesfarmers-buys-coles/2007/07/01/1183229003109.html|work=The Age|access-date=12 June 2011|location=Melbourne, Australia|date=2 July 2007}}</ref>

====Tourism====
[[File:ABS-3401.0-OverseasArrivalsDeparturesAustralia-ShorttermMovementVisitorArrivals SelectedCountriesResidence-Original-NumberMovements-TotalCountryStay.Residence-A1831011L.svg|thumb|right|Monthly short-term arrivals in Australia since 1991. The large drop in arrivals in 2020 is due to the [[COVID-19 pandemic]].<ref>{{cite web|url=https://www.abs.gov.au/statistics/industry/tourism-and-transport/overseas-travel-statistics-provisional/latest-release|title=Overseas Travel Statistics, Provisional|publisher=Australian Bureau of Statistics|date=15 December 2020}}</ref>]]
{{Main|Tourism in Australia}}
In the financial year 2017/18, tourism represented 3.1% of Australia's GDP contributing A$57.2&nbsp;billion to the national economy.<ref name="ABS1011">{{cite web|publisher=Australian Bureau of Statistics|title=Tourism Satellite Account 2017–18:Key Figures|date=12 October 2021|url=http://www.abs.gov.au/ausstats/abs@.nsf/mf/5249.0?OpenDocument}}</ref> Domestic tourism is a significant part of the tourism industry, representing 73% of the total direct tourism GDP.<ref name="ABS1011"/>

In calendar year 2018, there were 9.3 million visitor arrivals.<ref>{{cite web|url=http://www.tourism.australia.com/en/markets-and-stats/tourism-statistics/international-visitor-arrivals.html|title=Tourism statistics: International visitor arrivals|date=25 February 2022|publisher=Tourism Australia|access-date=7 June 2019|archive-date=7 June 2019|archive-url=https://web.archive.org/web/20190607022958/http://www.tourism.australia.com/en/markets-and-stats/tourism-statistics/international-visitor-arrivals.html|url-status=dead}}</ref> Tourism employed 646,000 people in Australia in 2017–18, 5.2% of the workforce.<ref name="ABS1011"/> About 43.7% of persons employed in tourism were part-time. Tourism also contributed 8.0% of Australia's total export earnings in 2010–11.<ref name="ABS1011"/>

==== Creativity and culture ====
Growing importance is being given to the economic contribution of the creative industries to the national economy. The [[United Nations Conference on Trade and Development]] (UNCTAD) recompiles statistics about the export and import of goods and services related to the creative industries.<ref>{{Cite web|title=Beyond 20/20 WDS|url=https://unctadstat.unctad.org/wds/ReportFolders/reportFolders.aspx?IF_ActivePath=P,10&sCS_ChosenLang=en|access-date=2021-12-29|website=unctadstat.unctad.org}}</ref> The [[World Intellectual Property Organization]] (WIPO) has assisted in the preparation of national studies measuring the size of over 50 copyright industries around the world.<ref>{{Cite web|title=The Economic Performance of Copyright-Based Industries|url=https://www.wipo.int/copyright/en/performance/index.html|access-date=2021-12-29|website=wipo.int|language=en}}</ref> According to the WIPO compiled data, the national contribution of [[Creative industries]] varies from 2% to 11% depending on the country.

The [[Australian Copyright Council]] (ACC) has been consistently compiling reports using the WIPO-guided framework on the impact of the copyright-based industries to Australia's economy in 2011,<ref>{{Cite web|last=Price Waterhouse Coopers|date=2011|title=The Economic Contribution of Copyright-Based Industries in Australia by the Australian Copyright Council|url=https://www.wipo.int/export/sites/www/copyright/en/performance/pdf/econ_contribution_cr_au.pdf|url-status=live|access-date=29 December 2021|publisher=WIPO|archive-url=https://web.archive.org/web/20130604120924/http://www.wipo.int/export/sites/www/copyright/en/performance/pdf/econ_contribution_cr_au.pdf|archive-date=4 June 2013}}</ref> 2012,<ref>{{cite web|title=The Economic Contribution of Copyright-Based Industries in Australia 2012|url=https://www.wipo.int/export/sites/www/copyright/en/performance/pdf/pwc_report_2012_australia.pdf|publisher=[[World Intellectual Property Organization]] (WIPO)}}</ref> and 2014.<ref>{{cite web|title=The Economic Contribution of Copyright-Based Industries in Australia 2014|url=https://www.wipo.int/export/sites/www/copyright/en/performance/pdf/pwc_report_2014_australia.pdf|publisher=[[World Intellectual Property Organization]] (WIPO)}}</ref> In the most up-to-date WIPO-supported study published in 2017,<ref>{{Cite web|last=PricewaterhouseCoopers Consulting (Australia)|date=September 2017|title=The Economic Contribution of Copyright-Based Industries in Australia|url=https://www.wipo.int/export/sites/www/copyright/en/performance/pdf/pwc_report_2017_australia.pdf|url-status=live|access-date=29 December 2021|publisher=WIPO|archive-url=https://web.archive.org/web/20180509015839/http://www.wipo.int:80/export/sites/www/copyright/en/performance/pdf/pwc_report_2017_australia.pdf|archive-date=9 May 2018}}</ref> the copyright industries contributed $122.8 billion to the Australian economy in 2016 amounting to 7.4% of Australia's total economic output. The 2016 figure represented an increase of $8.5 billion compared to 2011, with a growth in value added growing at 1.4% per annum (since 2011). Further, it found that these industries generated more economic output than the manufacturing, health care and mining sectors in 2016, and moved from being the 7th largest industry in 2011 to the 3rd in 2016.

====Media====
{{Main|Media of Australia|Telecommunications in Australia}}
In 2018, Australia was ranked 19th out of 180 countries in accordance to [[press freedom]]. The media industry is highly consolidated, with [[News Corp Australia]] and [[Nine Entertainment]] publishing the majority of popular newspapers, owning multiple television and radio stations, and providing the two major Australian streaming services, [[Binge (streaming service)|Binge]] and [[Stan (service)|Stan]]. Other major media companies include [[Ten Network Holdings|Ten Network]], [[Seven West Media]] and the national broadcasters [[Australian Broadcasting Corporation|ABC]] and [[Special Broadcasting Service|SBS]].

====Education====
{{Main|Education in Australia|Tertiary education in Australia}}
School attendance is compulsory in Australia, from the age of 5 up until approximately 16 (although it varies between each state and territory).<ref>{{cite web|url=http://www.deewr.gov.au/Schooling/Pages/overview.aspx|archive-url=https://web.archive.org/web/20110328132033/http://www.deewr.gov.au/Schooling/Pages/overview.aspx|archive-date=28 March 2011|title=Schooling Overview|publisher=Australian Government, Department of Education, Employment and Workplace Relations}}</ref> Australia also has an adult literacy rate that was estimated to be 99% in 2003.<ref name=cialittab>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/fields/2103.html#136|title=Literacy|work=[[The World Factbook]]|access-date=10 October 2013|archive-date=24 November 2016|archive-url=https://web.archive.org/web/20161124171442/https://www.cia.gov/library/publications/the-world-factbook/fields/2103.html#136|url-status=dead}}</ref>

In the [[Programme for International Student Assessment]], Australia regularly scores among the top five of thirty major developed countries (member countries of the Organisation for Economic Co-operation and Development). In 2018 there were 525,054 international students in Australia, comprising a market of 32,2&nbsp;billion A$.<ref>{{Cite news|url=http://www.abc.net.au/news/2018-04-18/australia-hosting-unprecedented-numbers-international-students/9669030|title=Australia hosting unprecedented numbers of international students|date=18 April 2018|publisher=ABC News|location=Australia|access-date=18 June 2018}}</ref>

====Logistics====
{{Main|Transport in Australia}}