Composition of Australia GDP
In 2007, 3 percent of Australia GDP was contributed to by agricultural sector and 26.4 percent came from industrial sector. Service sector contributed 70.6 percent of Australia's GDP. Mining sector of Australia has been a positive contributor to its gross domestic product.
GDP growth has gone up from 4.5 percent in financial year 1993-94, to approximately 8 percent in financial year 2006-07. In same time frame contribution of business and property sectors increased from 10 percent to 14.5 percent. Contribution made by manufacturing sector, which was a principal figure in Australia's gross domestic product, has plummeted down to 12 percent from an earlier high of 15 percent.
Status and growth of Australia GDP
Per capita gross domestic product ( purchasing power parity) of Australia is a bit more than United Kingdom, France and Germany. Per capita gross domestic product growth of Australia has been more than certain other countries, that are economically advanced, like New Zealand, Canada, United States of America and Netherlands.