Australia in Brief publication
Australian democracy
The core defining values of Australian Democracy are:freedom of election and being electedfreedom of assembly and political participationfreedom of speech, expression and religious beliefrule of lawother basic human rights.Australia is a representative democracy where voters elect candidates to carry out the business of government on their behalf.All Australian citizens over the age of 18 must vote in elections.The Australian Constitution of 1901 established a federal system of government, based on the British (Westminster) tradition of government. Powers are distributed between a national government (the Commonwealth) and the six states (New South Wales, Queensland, South Australia, Tasmania, Victoria and Western Australia). The Australian Capital Territory and the Northern Territory have self-government arrangements.Australia's elected national government is answerable to the Parliament for its actions. The Prime Minister leads a Cabinet of ministers, who are responsible for decisions made by their department.
A strong and open economy
Australians enjoy some of the highest living standards in the world despite being home to only 0.3 per cent of the global population.Since 1992, our economy has grown faster than any other major developed country. We have plentiful natural resources and a sophisticated services sector backed by a highly educated workforce.As one in five Australian jobs is trade related, we work hard to keep overseas markets open and Australians in employment.Australia has fifteen Free Trade Agreements (FTAs) with 26 countries.These agreements open up export markets for our companies, reduce the cost of doing business overseas, and give Australians greater choice and more affordable products.In 2020, FTAs with Indonesia, Hong Kong and Peru entered into force, as did PACER Plus, a free trade agreement between Australia, New Zealand and several Pacific Island countries.The COVID-19 pandemic had a dramatic effect on the Australian economy and society. But compared to our major trading partners, Australia has shown great resilience, underwritten by significant government support and ongoing demand for our mining exports.In 2018-19, the mining sector accounted for 8.5 per cent of Australia's GDP and minerals and fuels accounted for 50.9 per cent of Australia's goods and services exports. Our agriculture, tourism, education, financial services and science and technology products are also in high demand.We welcome foreign investment. It has helped build our economy by providing capital to finance new industries and enhance existing ones. Our well-regulated and transparent environment makes it easy to establish and operate a business in Australia.