The smallest continent but the sixth biggest nation of the world, Australia is located between the Indian Ocean and the South Pacific Ocean. Presently, Australia is the 14th largest economy of the world. Australia's emphasis on its reforms is another vital factor behind its economy's strength. Its prosperous Western-style capitalist economy is among the four major West European economies.

The service sector of Australia is the largest sector contributing over 70% to its GDP, other small sectors are agriculture and mining. These agriculture and mining sectors collectively account for about 65% of Australia's total exports.

Australia is a major and globally prominent exporter of natural gas, coal, iron, bauxite, copper, tin, gold, silver, uranium, tungsten, mineral sands, lead, zinc, opals, diamonds, grain, wool, meat and food products. Its agricultural sector supports the production of wheat, barley, sugarcane, fruits; and cattle, sheep, poultry, etc.

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