Economy of Australia
The Australian economy is dominated by its service sector including tourism, education and finance. The total contribution of this sector is approximately 70%, followed by Mining sector shares 8% of total GDP. Economic growth is largely dependent on the mining sector. Australian Economy is dependent on Crude Oil' and petro Products' imports.
According to report of International Monetary Fund(2011) Australia is ranked 5th in the world in terms of GDP (PPP). Australia's sovereign credit rating is 'AAA', higher than that of the USA.