Australian Economic Growth
and the United Kingdom having 2.2% (Tang, 2016). This can be illustrated in the diagram below. Source: Trading Economics Source: Focus Economics This remarkable progress is owing to the fact that Australia was relatively not affected by the global financial crisis, taking into consideration that the financial and banking system of Australia continued to be strong and the rate of inflation under control. The greatest share of the Australian economy is represented by the services sector, which signifies roughly 70% of the gross domestic product (GDP) (Thedora, 2016). One of the elements contributing to the Australian economic growth encompasses the increase in demand for raw materials from emerging nations. This… Continue Reading...