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Australian Financial Sysyem

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by

Suchismita Chandra

on 16 December 2013

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Transcript of Australian Financial Sysyem

According to the 2013 Credit Suisse Global Wealth report, Australia has a median wealth of US$222,000 ($217,559), the highest in the world and nearly four times the amount of each US adult. The proportion of those with wealth above US$100,000 is the highest of any country – eight times the world average. Average wealth was $US397,000, the world's second-highest after Switzerland.

Australia's current account is about 2.6% of GDP negative: Australia has had persistently large current account deficits for more than 50 years.

Australia has an export-oriented economy, with a strong focus on minerals and energy, premium quality agricultural and services products, innovation and creativity. In 2011, the value of Australia's trade with the world totaled more than $600 billion. Australia is a developed country and one of the wealthiest in the world, with the world's 12th largest economy. In 2012 Australia had the world's fifth-highest per capita income, Australia's military expenditure is the world's 13th largest.
- Australia's current account deficit for the 2007–08 financial year was up 4% to $19.49 billion (according to the Australian Bureau of Statistics).

- Participants in the financial system:
a. Commercial and investment banks.
b. Finance companies.
c. Credit unions.

The economy of Australia is one of the largest capitalist economies in the world with a GDP of US$1.57 trillion.
- Net exports contributed 0.7% points to GDP growth in the September quarter 2013 while detracted -0.3 percentage points in the June quarter 2013.
- Australia total export volumes grew by over 6 per cent in 2013.
- Mineral and fuel exports increased by 10.9 per cent in 2013, leading the growth in export volumes.
- Rural export volumes also grew strongly, up 11.6 per cent in 2013.
- Food exports also performed well, with wheat exports up 7.5 per cent to $6.5 billion and vegetables, fruit and nuts, up 28.9 per cent to $1.9 billion.
Movements in commodity prices and the exchange rate have driven divergent trends in the competitiveness of the nation’s resource and non-resource exporters over the past 10 years.

The strong increase in investment in the resources sector started to flow through to faster volumes growth In contrast, after growing at a faster pace than the broader economy through the 1990s, manufactured and services exports growth slowed through the mid 2000s, and they have been in relative decline over recent years.
Australian Financial System
Major trading partners:
1. Japan
2. South Korea.
3. United States.
4. United Kingdom.
5. Germany.
6. Singapore.

Total value of trade (imports and exports):
• AUSTRALIA'S TOTAL EXPORTS- A$313.3b
• AUSTRALIA'S TOTAL IMPORTS- A$294.9b


- Australia's GDP growth rate was 3.2% in 2011 and 3.8% in 2012.
- Australia’s economic freedom score is 82.6, making its economy the 3rd freest in the 2013 Index.
- Manufactures: 10%
- Services: 18.5%
- Rural: 13%
- Resources: 58.5%
- In the September quarter 2013 Exports of goods and services increased 0.3% and Imports of goods and services fell-3.3%
- The incredible resilience of Australian economy
published 2013 June quarter National Accounts showing GDP growth of 2.6%, a little below trend for the 2012-2013 financial year.
- Exports were up an impressive 6.4% over the year to the June quarter 2013.
Presented By: Sonica agarwal (1221629)
Suchismita Chandra (1221630)
Taneesha (1221631)
Thangam E (1221632)
Full transcript