Why is Australia’s GDP per capita so high?

Australia is rich in resources, has a high-quality population, advanced science and technology, and reasonable policy makers. It is located on the Pacific transportation hub. It can export iron ore to Japan, China, and ASEAN in the west, and export to the United States in the east. The economy The speed of development is very fast among developed countries, and this is the reason

Another reason is that Australia has a vast land and sparse population, and the environment is relatively favorable, so the per capita GDP is very high

Extended information:

In 2018, Australia’s annual GDP growth rate was 2.7%, totaling US$1.42 trillion

Just last week, according to data released by the United States, The U.S. GDP growth rate in the fourth quarter was poor, which ultimately led to the U.S. GDP growth rate in 2018 being only 2.9%. Data subsequently released by India showed that in 2018, India’s GDP growth reached 7.4%.

Although on the surface, the economic performance of the United States seems a bit bad, but it depends on who it compares with! If compared with emerging market countries such as India and China, the growth rate will naturally be inferior, because after all, the basic Set it there.

But as far as the performance of the United States is concerned, it is still very high when viewed from the perspective of the entire Western developed world. For now, only Australia can compare with it

On March 6, Australia released its economic data for 2018. According to official data, Australia's GDP growth in the fourth quarter of 2018 was only 2.3 year-on-year, lower than the previous value of 2.8% and the expected 2.6%. This was the worst result since September 2016.

Due to the obvious economic slowdown in the fourth quarter, the country's economic growth for the whole of 2018 was only 2.7%.

In addition, for the whole of 2018, Australia's total GDP was 1,897.045 billion Australian dollars, which was approximately 1.42 trillion U.S. dollars based on the average exchange rate.

On a global scale, it is lower than Russia’s US$1.62 trillion, ranking 13th in the world.

Previously, according to data released by Guangdong Province, Guangdong’s gross regional product (GDP) reached 9.73 trillion yuan in 2018, with a year-on-year growth rate of 6.8%.

If we look at the annual average exchange rate, GDP is approximately US$1.47 trillion

Ifeng.com - US$1.42 trillion! Australia’s GDP in 2018 ranked first in the world