Official Name: Commonwealth of Australia
Capital: Canberra
Area:
total: 7,686,850 sq km
land: 7,617,930 sq km
water: 68,920 sq km
note: includes Lord Howe Island and Macquarie Island
Government: Democratic, federal-state system recognizing the British monarch as sovereign
Population: 21,007,310 (July 2008 est.)
Time Zone: 3 PM = noon GMT
GDP: purchasing power parity - $760.8 billion (2007 est.)
Key Exports: coal, iron ore, gold, meat
Inflation: 1.4% (2000 est.)
Official languages: English, native languages.
Religion: Anglican 26.1%, Roman Catholic 26%, other Christian 24.3%, non-Christian 11%
Geography: The geography of Australia encompasses a wide variety of biogeographic regions being the world's smallest continent but the sixth-largest country in the world. The population of Australia is concentrated along the eastern and southeastern coasts. The geography of the country is extremely diverse, ranging from the snow capped mountains of the Australian Alps and Tasmania to large deserts, tropical and temperate forests.
Climate: The climate of Australia varies widely, but by far the largest part of Australia is desert or semi-arid – 40% of the landmass is covered by sand dunes. Only the south-east and south-west corners have a temperate climate and moderately fertile soil. The northern part of the country has a tropical climate: part is tropical rainforests, part grasslands, and part desert.
Rainfall is highly variable, with frequent droughts lasting several seasons thought to be caused in part by the El Niño-Southern Oscillation. Occasionally a dust storm will blanket a region or even several states and there are reports of the occasional large tornado. Rising levels of salinity and desertification in some areas is ravaging the landscape.
Australia's tropical/subtropical location and cold waters off the western coast make most of western Australia a hot desert with aridity, a marked feature of greater part of the continent. These cold waters produce precious little moisture needed on the mainland. A 2005 study by Australian and American researchers investigated the desertification of the interior, and suggested that one explanation was related to human settlers who arrived about 50,000 years ago. Regular burning by these settlers could have prevented monsoons from reaching interior Australia.
Finance and Banking: The Australian financial industry began to deregulate in 1983. Apart from the general loosening of regulations on banks, the distinction between savings banks and trading banks were abolished and foreign banks could open branches in Australia more easily.
The abolition of banking restrictions increased credit availability amid the asset price boom in the 'roaring 80s', fuelling uncontrolled credit lending and poor screening practices as banks geared up with ambitious plans to maintain competitiveness.
Currently, the Australian banking sector is dominated by four major banks: Australia and New Zealand Banking Group, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation. The Australian government has a "four pillars" policy that prevents mergers between the four major banks. This is long-standing policy rather than formal regulation, but it reflects the broad political unpopularity of bank mergers. A number of leading commentators have argued that the "four pillars" policy is built upon economic fallacies and works against the nation's better interests.
The banks are regulated by the Australian Prudential Regulatory Authority (APRA). APRA is responsible for regulating much of the financial industry, including insurance and superannuation companies.
Taxes: The federal government imposes income taxes on individuals, and this is the most significant source of revenue for this level of government. The state governments do not impose any income taxes, and have not done so since World War II. Income taxes in Australia are progressively imposed with higher income earners paying a higher percentage than lower income earners.
Currency:
Currency: Australian dollar (AUD) Currency code:
AUD Exchange rates: Australian dollars per US dollar - 1.7995 (January 2001), 1.7173 (2000), 1.5497 (1999), 1.5888 (1998), 1.3439 (1997), 1.2773 (1996)
Country Dialing Code: (country code) +61 + the number
Credit cards and cash: All banks in Australia offer customers cash and debit cards. Australia has popular, secure and efficient credit card systems which are distinguished by low, not high, credit card interchange fees.
Telecommunications:
Telephones - main lines in use: 9.58 million (1998)
Telephones - mobile cellular: 6.4 million (1998)
Telephone system: general assessment: excellent domestic and international service
-Domestic: domestic satellite system; much use of radiotelephone in areas of low population density; rapid growth of mobile cellular telephones
-International: submarine cables to New Zealand, Papua New Guinea, and Indonesia; satellite earth stations - 10 Intelsat (4 Indian Ocean and 6 Pacific Ocean), 2 Inmarsat (Indian and Pacific Ocean regions) (1998)
Radio broadcast stations: AM 262, FM 345, shortwave 1 (1998)
Radios: 25.5 million (1997) Television broadcast stations: 104 (1997)
Televisions: 10.15 million (1997)
Internet country code: .au
Internet Service Providers (ISPs): 264 (2000)
Internet users: 7.77 million (2000)
Medical facilities: Excellent medical care is available. Serious medical problems requiring hospitalization and/or medical evacuation to country of origin can cost thousands of dollars. Most doctors and hospitals expect immediate cash/credit card payment for health services.
Visitors are cautioned that Australian fauna can be dangerous. From jellyfish off the Great Barrier Reef to crocodiles and sharks, poisonous insects and snakes, the continent and its waters host wildlife that merit awe and respect in equal doses. Further information on Australian wildlife may be obtained from the Wet Tropics Management Authority Information on Marine Life at http://www.wettropics.gov.au/vi/vi_marine.html and the Wet Tropics Management Authority information on animals at http://www.wettropics.gov.au/vi/vi_animals.html. Swimmers should use safety precautions, swim between the flags only where a lifeguard is present, and never swim alone. Scuba diving can be a treacherous sport. Over the past few years there have been numerous deaths related to diving incidents. Divers are urged to follow recommended precautions and never dive alone.
Crime: Visitors should be aware that street crime, burglaries, and car thefts are a daily occurrence in Australia’s larger cities. Weapons are increasingly used in such crimes, which also may be associated with drug trafficking and usage. Foreign visitors are sometimes targets for pickpockets, purse-snatchers and petty thieves. There have also been reports of drink spiking in some areas.
Appropriate, common sense precautions should be taken, especially at night, to avoid becoming a target of opportunity. To call for fire/police/ambulance services throughout Australia, dial “000” for urgent assistance.
Traffic & Driving in Australia: While in a foreign country, visitors may encounter road conditions that differ significantly from those in their country of origin. The information below concerning Australia is provided for general reference only, and may not be totally accurate in a particular location or circumstance.Visitors are reminded that all traffic operates on the left side of the road, and that all vehicles use right-hand drive. Visitors should use caution when crossing streets and when driving. When crossing roads, pedestrians are reminded to look carefully in all directions. Seat belts are mandatory. Speed limits and laws regarding driving while intoxicated are rigorously enforced. Roads and streets are frequently narrower and less graded than the average highway in Western countries. Outside the major metropolitan areas, most highways are two-lane roads with significant distances between destinations. Speed limits vary throughout Australia. For a list of State Roads and Traffic Authorities and other sites concerning traffic rules and regulations, travelers may visit http://www.rta.nsw.gov.au/relatedwebsites.html.