Australia is often referred to as the “beautiful country” with temperate climate, impressive landscape, growing economy, political stability and a quality of life envied by many. Australia is known around the world for its stunning landscapes. It is surrounded by the Indian and Pacific Oceans.
It is the sixth largest country in the world and is about the same size as the 54 mainland states of the USA and 48 per cent larger than Europe, but has the lowest population density in the world – just two people per square kilometers.
The Australian economy was around 5.4 % (compound average annual growth) from 1997 to 2002. Although in 2001, economic growth was forecasted to be moderate, Australia’s growth was accompanied by low inflation. Australia’s compound average inflation over the 1990s was
3.26 %, as compared to the average inflation of 2.5 % in the EU and 2.9 % in the UK.