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| Australia became a commonwealth
of the British Empire in 1901. It was able to take advantage
of its natural resources to rapidly develop its agricultural
and manufacturing industries. Australia is a stable, democratic
society with a skilled workforce and a strong, competitive
economy. This is the only nation to govern an entire continent
and is the sixth largest country in the world in land
area. |
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| 1.1 |
Land area: |
Total: 7,686,850 sq km |
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Land: 7,617,930 sq km |
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Water: 68,920 sq km
(includes Lord Howe Island and Macquarie Island). |
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Land use: |
Arable land: 7% |
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Permanent crops: 0% |
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Other: 93% (1998 est.) |
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Irrigated
land: |
24,000 sq km (1998 est.) |
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Map references: Oceania |
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Location: |
Oceania, continent
between the Indian
Ocean and the South Pacific Ocean. |
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Area -
comparative: |
In land area, Australia
is the sixth largest nation after Russia, Canada, China,
the
United States of America and Brazil. Slightly smaller
than the US contiguous 48 states. |
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| 1.2 |
Population:
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It has, a relatively small
population. 19,546,792 (July 2002 est.) |
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| 1.3 |
Population
growth rate: |
0.96% (2002 est.) |
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Age structure:
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0-14
years: 20.4% (male 2,046,052; female 1,949,725) |
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5-64
years: 67% (male 6,610,840; female 6,480,354) |
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65
years and over: 12.6% (male 1,078,506; female 1,381,315)
(2002 est.) |
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| 1.4 |
Languages: |
English is the
native and official language, with modern Australian English
a conglomerate of British and American, using its own
phraseology and spelling. Over 200 other languages are
spoken in Australia, including 48 Australian Indigenous
languages. Australian school children have the highest
rate of learning Asian languages, particularly Japanese
and Chinese, of any industrialized western nation. |
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| 1.5 |
Religion: |
Anglican 26.1%, Roman Catholic 26%, other Christian 24.3%,
non-Christian 11%, other 12.6% |
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| 1.6 |
Education: |
Australia has
a well-developed education system with participation rates
and secondary school completion rates among the highest
in the world. Australian governments at all levels are
continually reviewing and reforming education and training
to address the issues that arise from social and economic
change. In many cases, Australian models attract international
attention and Australia is involved in co-operating with
the development of educational programmes in a number
of overseas countries.
Preschool and school education has a
similar structure across Australia with only slight variations
amongst the States and Territories. Preschool education
is commonly one year in length and is not compulsory.
School education is thirteen years with some variations
in Queensland and Western Australia. It is divided into
a preparatory year, primary schooling and secondary schooling.
The preparatory year is not compulsory but is almost universally
undertaken. Children usually start in the preparatory
year at around five years of age although in some States
the starting age is closer to four years. Primary schooling
is six or seven years 1-6 or 1-7, and secondary schooling
is five or six years 7-12 or 8-12. School education is
compulsory until the age of 15 except in Tasmania where
it is compulsory until age 16. During the 1980s and 1990s,
there has been a steady increase in the number of students
completing the full thirteen years of education, with
the national rate at 72.3 per cent in 1999. Retention
rates vary between States and Territories, ranging from
53 per cent in the Northern Territory to over 91 per cent
in the Australian Capital Territory.
Tertiary education programmes can be
divided into two main types those offered by institutions
and industry within the Vocational Education and Training
(VET) sector, and higher education programmes which are
mainly offered by universities and other higher education
institutions.
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| 1.7 |
Literacy rate: |
Definition: Age
15 and over can read and write.
Total Population: 100%
Male: 100%
Female: 100% (1980 est.) |
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| 1.8 |
Capital: |
Canberra |
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| 1.9 |
Major States:
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New South
Wales |
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Victoria |
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Queensland |
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Western Australia |
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South Australia |
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Tasmania |
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Northern Territory |
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Australian Capital Territory
- Canberra |
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| 1.10 |
Climate:
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Generally
arid to semiarid; temperate in south and east; tropical
in north |
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| 1.11 |
Public
Holidays: |
National
holiday - Australia Day, 26 January (1788)
Australians tend to take their annual vacation in
December and January, combining Christmas/New Year
celebrations with the long summer school vacation
period. Consequently, business slows down and it
is usually difficult to make appointments during
this time. Business travelers should be certain
that their contacts will be available during this
period before scheduling trips.
Listed below are the national public holidays observed
in Australia, Easter being the only holiday which
changes each year. Some holidays may vary from state
to state with individual states also having their
own public holidays. For example, all states have
a public holiday for the Queen's Birthday and Labour
Day, but the dates vary from state to state.
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•
New Year's Day January 1 |
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•
Australia Day January 26 |
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•
Good Friday April 18, 2003 |
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•
Easter Monday April 21, 2003 |
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•
Anzac Day April 25 |
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Christmas Day December 25 |
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•
Boxing Day December 26 |
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| 1.12 |
Working Hours: |
The normal
business workweek is Monday - Friday, 38 hours,
usually ranging between 8 a.m. - 6 p.m., with an
hour or so for lunch. Most shops close by 6 p.m.
most days, but keep some evening hours, Saturday
and increasingly, Sunday hours. |
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Business Hours
and Banking: |
Office business
hours generally are 9:00 am-5:00 pm, Monday through
Friday. Retail shops increasingly keep longer business
hours, and all city centers have evening shopping
at least one day per week, along with Saturday and
(in most areas) Sunday. However, Australia has not
yet gone to the 7-day/24-hour shopping mode characteristic
of most of the U.S.. Banks are open to the public
from 9:00 a.m. to 4:00 p.m. (some later), Monday
through Friday, with 7-day/24-hour ATM service.
Restaurants and convenience stores are commonly
open for extended hours. |
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| 1.13 |
Time: |
The time
difference between Sri Lanka and Australia,
+ 4.00 hours (winter) last Sunday of October to
last Sunday of April.
+ 5.00 hours (summer) last Sunday of April to last
Sunday of October.
Time Zones
Australia's three time zones, Eastern, Central and
Western, are parallel to those in Asia. Eastern
Time (Sydney, Melbourne, Canberra, Brisbane, and
Cairns) is one hour ahead of Tokyo. The reversal
of the seasons (and hence of daylight saving time
in the Northern and Southern Hemispheres) complicates
the time zone calculation. Not all Australian states
have daylight saving time. Between the months of
April and October, when it is 8:00 am in New York
and 11:00 am in Los Angeles, it is 10:00 pm in Sydney
and 8:00 pm in Perth. From November to March, at
8:00 am in New York, it is 12:00 am (midnight) in
Sydney and 9:00 pm in Perth. |
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| 1.14 |
Visa
Requirements: |
A
valid passport or certificate of identification
is required for everyone wishing to enter Australia,
which can be obtained from Australian Embassies,
High Commissions and Consulates. The Australian
Embassy has a list of participating travel agencies.
The nearest Australian visa office should be contacted
well in advance. The Electronic Travel Authority
(ETA) is becoming progressively available through
travel agents. Further information can be obtained
from: www.immi.gov.au |
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| 1.15 |
Currency: |
Australian dollar (AUD)
/ (A$) |
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Currency
code - AUD
The conversion rate is variable. As of the writing
of this report in July 2002, A$1 was trading at
US$0.56. Traveler's cheques are accepted widely.
Currency can be exchanged easily at international
airports and most major banks, and ATM machines
linked to Cirrus and other international networks
are readily accessible.
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Currency
Regulations: |
There
are no major restrictions on importing or exporting
currency or travelers cheques to/from Australia,
although a customs declaration is filed when taking
out large amounts of cash.
Credit
Cards/ATMS
Most international credit cards are accepted in
Australia and, as in the U.S., can be used for purchases
of goods and services and to confirm hotel and other
travel arrangements. ATM machines have most international
cash access systems available so that travelers
can withdraw cash directly. |
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| 1.16 |
Weights and
Measures: |
Australian
Distances, temperatures and weights are expressed
in metric units. Speed and distance are measured
in kilometers; goods in kilograms and liters; temperature
in Celsius (Centigrade). |
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| 1.17 |
Government: |
Commonwealth
of Australia
Conventional short form: Australia
Government type: A Democratic Federal and State
parliamentary system, recognizing the British Monarch
as Sovereign of Australia. |
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| 1.18 |
Political condition
bearing on trade: |
Fiscal
And Monetary Policy
Since coming to power in 1996, the Coalition government
has been guided by two fiscal policy goals: fiscal
discipline involving the reduction of government
debt and the reform of Australia's taxation system.
By FY 1998-99, the Coalition had returned the federal
budget to surplus without any increases in taxation.
After four consecutive surpluses, the budget slipped
into deficit in 2001-02. This was partly due to
higher defense and border protection expenditures
following the events of September 11, 2001. Stimulatory
fiscal settings, actions such as the first-homeowners
grant and tax refunds to self-funded retirees, taken
in the context of a global economic downturn and
an Australian election campaign late in 2001, also
contributed to a deficit budget. The budget is,
however, projected to return to surplus in 2002-03.
Combined with the sale of Federal Government assets
such as the Sydney Airport, the budget surpluses
produced by the Coalition have reduced the Federal
Government's debt levels from a peak of nearly 19
percent of GDP in FY 1995-96 to 5.5 percent in FY
2001-2002.
Tax reform remains a work in progress. The Federal
Government's central achievement so far has been
to shift Australia's tax mix away from income taxes,
through the introduction of the Goods and Services
Tax (GST) in July 2000. The GST, which is set at
ten percent on most goods and services, was accompanied
by reductions in personal income tax and the abolition
of various indirect taxes. Personal income tax rates
fell as much as 13 percent (from 43 percent to 30
percent) with middle-class households reaping the
largest benefit of the tax cuts. Tax brackets were
shifted to allow more households to fall at or below
the 30 percent tax rate. The July 1, 2000, tax cut
was the largest income tax cut in Australia's history.
Business tax reform, however, has been the subject
of ongoing review and legislative wrangling since
1998, and progress has been slow due to the complexity
of the issues and sometimes, indifferent support
from business. The tax on company profits has however
been reduced in stages from 36 to 30 percent.
Monetary policy is currently in the early stages
of a tightening cycle. In response to a downturn
in domestic demand in late 2000 and mounting evidence
of a global slowdown, the Reserve Bank of Australia
(RBA) lowered interest rates by a cumulative total
of 125 basis points between February and September
2001. Following the events of September 11, and
the ensuing heightened state of uncertainty regarding
the global economy, rates were lowered by a further
50 basis points to near thirty-year lows by December
2001.
As evidence has emerged of a global recovery and
the underlying strength of the Australian economy
has been maintained in 2002, the RBA has sought
to remove some of this stimulus. Interest rates
were raised by 25 basis points in May, and by a
further 25 basis points to 4.75 percent by June
2002. Given the continued strength in domestic demand,
and the RBA's stated concern over inflationary pressures
as the economy approaches capacity, monetary policy
is set to see further rate increases during 2002
toward a more neutral stance.
Major
political issues affecting the business climate
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A political consensus for progress and change
All of Australia's major political parties seek
to promote growth and encourage investment and trade,
including investment abroad. Although there are
differences on issues such as tax reform and continued
privatization of state-owned industries, the leading
parties strongly support Australia's internal economic
restructuring, aimed at transforming the country
into a globally competitive trading nation.
In integral policy directions that attract universal
support include Australia's desire to define itself
as a part of the dynamic Asia-Pacific region. Australians
also support efforts by the government and business
to diversify its mix of exports in order to reduce
reliance on basic commodities and to increase sales
of value-added products.
While overall momentum to privatize most public
services has waned for the time being, contentious
debate continues over the sale of the remaining
government-owned shares of Telstra, the parastatal
communications giant. |
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| 1.19 |
Other useful
general information: |
| Fiscal
year: |
1 July - 30 June |
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| Natural
resources: |
Bauxite, coal, iron ore, copper, tin, silver,
uranium, nickel, tungsten, mineral sands,
lead, zinc, diamonds, natural gas, petroleum. |
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| Natural
hazards: |
Cyclones along the coast; severe droughts;
forest fires. |
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| Source: Australian Bureau of
Statistics |
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