Where does Australia fit in the world economy?
Analysis conducted by the Boston Consulting Group, about 52% of all global growth between 2014-2016 can be attributed just to China and the United States.
After looking at the growth of every country, it turns out there are only 16 that are adding 1% or more growth to the whole picture.
Every other country added together produces just 18.5% of total growth.
What About Australia?
As you can see from the chart above, we’re pulling above our weight.
The economy of Australia is one of the largest mixed market economies in the world, with a GDP of US$1.525 trillion as of 2014.
According to Wikipedia Australia’s total wealth is 6.4 trillion dollars.
Australia is the 19th-largest importer and 19th-largest exporter.
Not bad for a population of less than 24 million people