81-400: Shoalhaven Coast is an Australian wine region located in the state of New South Wales . The Shoalhaven Coast wine region is located in the state of New South Wales . It is close to the cities of Sydney, Wollongong and Canberra. The region has 16 cellar doors that have produced 500 tonnes or 400,000 bottles of wine. The region is popularly known for Chambourcin , a French red wine. It
162-570: A goods and services tax (GST) was introduced, similar to the European-style VAT . According to the Australian Bureau of Statistics (ABS) seasonally adjusted estimates, the unemployment rate remained steady at 4.1% in October 2024 while the labour force participation rate decreased 0.1 points to 67.1%. The participation rate for 15- to 24-year-olds increased by 0.7 points to 71.1% while
243-466: A mixed economy . As of 2023, Australia was the 14th-largest national economy by nominal GDP ( gross domestic product ), the 19th-largest by PPP-adjusted GDP, and was the 21st-largest goods exporter and 24th-largest goods importer . Australia took the record for the longest run of uninterrupted GDP growth in the developed world with the March 2017 financial quarter . It was the 103rd quarter and
324-555: A celebratory dinner was more likely to be accompanied by an inferior French wine than a premium Australian wine. This is partly due to exchange rate fluctuations, making Australian wines appear much cheaper than French wines in the UK and hence perceived as being of poorer quality. While this situation may be somewhat mitigated by the continued rise in the Australian dollar during 2010, the stronger currency threatens to weaken Australian exports to
405-541: A centralised tax system. The legislation could not expressly prohibit state income taxes (s. 51(ii) does not curtail the power of states to levy taxes) but the federal government's proposal made localised income tax extremely difficult politically. The federal government offered instead compensatory grants authorised by s. 96 of the Constitution for the loss of state income ( State Grants (Income Tax Reimbursement) Act 1942 ). The states rejected Canberra's regime and challenged
486-452: A number of varietals, such as Chardonnay, Pinot noir and Shiraz. Moreover, Australians have innovated in canopy management and other viticultural and in wine-making techniques, and they have a general attitude toward their work that sets them apart from producers in Europe. Australian wine-makers travel the wine world as highly skilled seasonal workers, relocating to the northern hemisphere during
567-470: A portion used for winemaking. Early Australian winemakers faced many difficulties, particularly due to the unfamiliar Australian climate. But because it is also warm, dry, and Mediterranean overall, making Australia ideal for wine production, they eventually achieved considerable success. "At the 1873 Vienna Exhibition the French judges, tasting blind, praised some wines from Victoria, but withdrew in protest when
648-498: A recession. In September 2020, it was confirmed that due to the effects of the COVID-19 pandemic , the Australian economy had gone into recession for the first time in nearly thirty years, as the country's GDP fell 7 per cent in the June 2020 quarter, following a 0.3 per cent drop in the March quarter. It officially ended at the beginning of December 2020. The following table shows
729-533: A time when China was Australia's most lucrative market. As relations between the two countries improved the tariffs were removed in March 2024. In 2024, in part due to overproduction as well as falling consumption, Australian vignerons uprooted millions of vines. Major grape varieties are Shiraz , Pinot noir , Cabernet Sauvignon , Merlot , Chardonnay , Sauvignon blanc , Sémillon , and Riesling . The country has no native grapes, and Vitis vinifera varieties were introduced from Europe and South Africa in
810-620: Is "AAA" for all three major rating agencies, higher than the United States of America. The emphasis on exporting commodities rather than manufactures underpinned a significant increase in Australia's terms of trade during the rise in commodity prices since 2000. However, due to a colonial heritage a lot of companies operating in Australia are foreign-owned and as a result, Australia has had persistent current account deficits for over 60 years despite periods of positive net merchandise exports; given
891-513: Is a city located in the South-eastern coastal region of New South Wales, Australia. It is about 200 kilometres south of Sydney. It is adjacent to the Tasman Sea. The South coast railway line cuts through the northern part of the city and stops at Bomaderry. As at 2013, the city has a population of 97,694. The city was named "Shoalhaven" by George Bass in 1797, when he explored the area and crossed
SECTION 10
#1732854914082972-420: Is a festival established to celebrate everything wine. Thousands of visitors come to the region to stay for three days for exciting live music, fine food, winemaker's dinners, wine education talks, vineyard tours, market stalls etc. The weekend is filled with interesting activities for everyone. It has become a major event on wine and food lover's calendar. Festival lovers can buy a commemorative wine glass at
1053-563: Is also found in South Australia, California (particularly Paso Robles, originating with Tablas Creek Vineyard ), and Washington (Columbia Valley); smaller production exists in Argentina and South Africa. A very similar blend is traditional to Priorat (in Catalonia , Spain), still based on Garnacha (Grenache), but adding Mazuelo (Carignan), Syrah, and Merlot (same GS, different M's). Grenache
1134-623: Is characterised as a "two-speed economy". From June 2012 to March 2013 Victoria experienced a recession. In 2012 the Government of Victoria cut 10% of all jobs in the public service. The period since has seen these trends reversed with Western Australia and Northern Territory, who are heavily dependent on mining, experience significant downturns in GDP while the eastern states returned to growth, led by strong upturns in NSW and Victoria. Taxation in Australia
1215-729: Is dominated by a small number of major wine companies. The largest wineries are the Casella winery in Yenda, NSW ( Yellow Tail wines) and the Berri Estates winery in Glossop, SA. The ownership of wineries varies but their location has largely been the same since the introduction of stainless steel tanks in the 1990s, there was a major change in the wine industry in the 1980s when local winegrower cooperatives ceased operations or were privatised. The majority of grapes are grown in warm climate regions, including
1296-596: Is highly influenced by the Pacific Ocean. The two major varieties of wine in Shoalhaven coast are the Chambourcin and Verdelho . Chambourcin is a French hybrid grape variety for making wine. It has a great resistance to fungal diseases. It is good for the humid summer climate experienced in the region. The wine produced from this variety is deep-coloured with an aroma of plummy fruit. Verdelho originates from Portugal and
1377-444: Is levied at the federal, state, and local government levels. The federal government raises revenue from personal income taxes and business taxes. Other taxes include the goods and services tax (General Service Tax) , excise and customs duties. The federal government is the main source of income for state governments. As a result of state dependence on federal taxation revenue to meet decentralised expenditure responsibilities, Australia
1458-661: Is no evidence that she placed an order as a result. The production and quality of Australian wine was much improved by the arrival of free settlers from various parts of Europe, who used their skills and knowledge to establish some of Australia's premier wine regions. For example, emigrants from Prussia in the mid-1850s were important in establishing South Australia's Barossa Valley as a winemaking region. In smaller scale, winemakers from Switzerland also helped in establishing Geelong wine region in Victoria in 1842. In 1853, Australia had less than six hundred hectares of grapes, with only
1539-478: Is produced by crossbreeding and it has a bright and striking colour and an aroma of plummy fruit. The superb coastal beaches brings in enormous tourism, which boosts the wine market. Because of that, the cellar doors in the area are bustling with activities. The region also boasts of the Coolangatta Estate , which is a major tourist attraction in the region. The Shoalhaven coast has been a great success over
1620-537: Is ranked 18th in the world (CIA World Factbook 2016). The country was ranked fifth in the United Nations 2022 Human Development Index and sixth in The Economist worldwide quality-of-life index 2005. In 2014, using constant exchange rates, Australia's wealth had grown by 4.4% annually on average after the financial crisis of 2007–2008 , compared with a 9.2% rate over 2000–2007. Australia's sovereign credit rating
1701-546: Is responsible for most of the production of wine in Australia. In recent years, the Tasmanian wine industry has emerged as a producer of high quality wines. In particular, the Tamar Valley has developed a reputation for its Chardonnay and Pinot noir, which are well suited to the cooler Tasmanian climate. Queensland is also developing a wine industry with over 100 vineyards registered in the state. Some notable wines are produced in
SECTION 20
#17328549140821782-585: Is said to have a vertical fiscal imbalance . Besides receipts of funds from the federal government, states and territories have their own taxes, in many cases as slightly different rates. State taxes commonly include payroll tax levied on businesses, a poker-machine tax on businesses that offer gambling services, land tax on people and businesses that own land and most significantly, stamp duty on sales of land (in every state) and other items (chattels in some states, unlisted shares in others, and even sales of contracts in some states). The states effectively lost
1863-460: Is situated on the northern bank of the Shoalhaven River . The word "Coolangatta" means "good lookout". The estate is surrounded by vineyards. Shoalhaven region has warm temperatures during the growing season. Vineyards on the north directly facing the slopes are open, well-drained and exposed to air. The only problem with the region is the unpredictable summer rainfall. The climate of the region
1944-674: Is the Australian dollar , which it shares with several Pacific nation states. Australia's economy is strongly intertwined with the countries of East and Southeast Asia , also known as ASEAN Plus Three (APT), accounting for about 64% of exports in 2016. China in particular is Australia's main export and import partner by a wide margin. Australia is a member of the APEC , G20 , OECD and WTO . The country has also entered into free trade agreements with ASEAN , Canada, Chile, China, South Korea, Malaysia, New Zealand, Peru, Japan, Singapore, Thailand and
2025-434: Is the lightest of the three grapes, producing a pale red juice with soft berry scents and a bit of spiciness. As a blending component, it contributes alcohol, warmth and fruitiness without added tannins . Shiraz can contribute full-bodied, fleshy flavours of black fruits and pepper. It adds colour, backbone and tannins and provides the sense of balance such blends require. Mourvèdre contributes elegance, structure and acidity to
2106-474: The Black Summer bushfires of 2019 to 2020, winemaking was adversely affected in production areas struck by fire or smoke, which affects flavour through smoke taint . The Adelaide Hills wine region was particularly badly hit, losing up to 30% of is vineyards. Some winemakers found innovative ways to get around the problem of tainted grapes. In 2020, China placed taxes of more than 200% on Australian wines at
2187-538: The Business Franchise Licences (Tobacco) Act 1987 (NSW) was invalid because it levied a customs duty, a power exercisable only by the Commonwealth (s.90). This decision effectively invalidated state taxes on cigarettes, alcohol and petrol. Similarly, the imposition of a Commonwealth goods and services tax (GST) in 2000 transferred another revenue base to the Commonwealth. Consequently, Australia has one of
2268-734: The National Australia Bank in April 2012 cut its growth forecast for Australia to 2.9% from 3.2%., and JP Morgan in May 2012 cut its growth forecast to 2.7% in calendar 2012 from a previous forecast of 3.0%, also its forecast for growth in 2013 to 3.0% from 3.3%. Deutsche Bank in August 2012, and Société Générale in October 2012, warned that there is risk of recession in Australia in 2013. While Australia's overall national economy grew, some non-mining states and Australia's non-mining economy experienced
2349-467: The penal colony of New South Wales by Governor Phillip on the First Fleet (1788). Wine produced from this was initially for household use. An attempt at wine making from these first vines failed, but with perseverance, other settlers managed to successfully cultivate vines for winemaking , and Australian made wine was available for sale domestically by the 1820s. In 1822 Gregory Blaxland became
2430-402: The provenance of the wine was revealed, on the grounds that wines of that quality must clearly be French." Australian wines continued to win high honours in French competitions. A Victorian Syrah (also called Shiraz) competing in the 1878 Paris Exhibition was likened to Château Margaux and "its taste completed its trinity of perfection." One Australian wine won a gold medal "first class" at
2511-425: The 1.2 to 1.3 billion litres produced annually exported to overseas markets. The wine industry is a significant contributor to the Australian economy through production, employment, export, and tourism. There is a $ 3.5 billion domestic market for Australian wines, with Australians consuming approximately 500 million litres annually. Norfolk Islanders are the second biggest per capita wine consumers in
Shoalhaven Coast - Misplaced Pages Continue
2592-528: The 1882 Bordeaux International Exhibition and another won a gold medal "against the world" at the 1889 Paris International Exhibition. That was all before the destructive effects on the industry of the phylloxera epidemic. Australia has rapidly become a world leader in both the quantity and quality of wines it produces. For example, Australian wine exports to the US rose from 578,000 cases in 1990 to 20,000,000 cases in 2004 and in 2000 it exported more wine than France to
2673-419: The 1920s, followed by the 1950s and the 1980s. By contrast, the late 1910s/early 1920s, the 1930s, the 1970s and early 1990s were marked by financial crises. From the early 1980s onwards, the Australian economy has undergone intermittent economic liberalisation . In 1983, under prime minister Bob Hawke , but mainly driven by treasurer Paul Keating , the Australian dollar was floated and financial deregulation
2754-452: The 1960s and 1970s which fuelled the rise of suburbanisation and consumerism in Perth , the capital and most populous city of Western Australia, as well as other regional centres. The Australian government stimulus package ($ 11.8 billion) helped to prevent a recession. The World Bank expected Australia's GDP growth rate to be 3.2% in 2011 and 3.8% in 2012. The economy expanded by 0.4% in
2835-736: The 1998 vintage 99 points out of a possible 100. Wine critic Hugh Johnson has called Grange the only First Growth of the Southern Hemisphere. The influential wine critic Robert Parker , who is well known for his love of Bordeaux wines, has written that Grange "has replaced Bordeaux's Pétrus as the world's most exotic and concentrated wine". Other red wines to garner international attention include Henschke Hill of Grace, Clarendon Hills Astralis, D'Arenberg Dead Arm, Torbreck Run Rig and other high-end Penfolds wines such as St Henri shiraz. Australia has almost 2000 wine producers, most of whom are small winery operations. The market
2916-418: The 26th year since the country had a technical recession (two consecutive quarters of negative growth). As of June 2021, the country's GDP was estimated at $ 1.98 trillion. The Australian economy is dominated by its service sector , which in 2017 comprised 62.7% of the GDP and employed 78.8% of the labour force. At the height of the mining boom in 2009–10, the total value-added of the mining industry
2997-455: The 5th largest world producer of salt . The country is also a major producer of precious stones. Australia is the world's largest producer of opal and is one of the largest producers of diamond , ruby , sapphire and jade . In non-renewable energies, in 2020, the country was the 30th largest producer of oil in the world, extracting 351.1 thousand barrels / day. In 2019, the country consumed 1 million barrels / day (20th largest consumer in
3078-712: The Australian media due to discrepancies between the methods of different research bodies (Roy Morgan versus the ABS), differing definitions of the term 'unemployed' and the ABS' practice of counting under-employed people as "employed". As of February 2024, the Australia labour force were employed in the following industries (seasonally adjusted) : According to the Australian Graduate Survey done by Graduate Careers Australia , full-time employment for newly qualified professionals from various occupations (around four months after
3159-628: The Graduate Careers Survey 2014 survey included 113,263 responses ("59.3 per cent of the almost 191,000 Australian resident graduates who were surveyed responded to the AGS.") The professional associations of some of these occupations expressed their criticism of the immigration policy in 2014. Note: All data in the table above is seasonally adjusted . In 2019, the country was the 2nd largest world producer of gold ; 8th largest world producer of silver ; 6th largest world producer of copper ;
3240-560: The Island of Madeira . In Australia, it is used to produce white table wines. It is an alternative to Chardonnay wine. They are common because they smell and taste like they produced from grapes. Other types of wine produced in the region are Sauvignon blanc , Semillon , Cabernet Sauvignon and Shiraz . New varieties of wine are also springing up, such as, Arneis , Viognier , Tempranillo , Sangiovese and Tannat . The Shoalhaven coast wine festival takes place on every June long weekend. It
3321-570: The Riverina, Murray Valley and Riverland wine regions, located in southern NSW, north western Victoria and South Australia. A 2019 report by the Australian Competition and Consumer Commission examined grape production in these areas and the myriad competition and consumer issues facing growers. The information included on wine labels is strictly regulated. One aspect of this is that the label must not make any false or misleading statements about
Shoalhaven Coast - Misplaced Pages Continue
3402-427: The UK for the first time in history. The industry has at times suffered from its own productivity. In the late 1980s, governments sponsored growers to pull out their vines when Australia was a net importer of wine. Low grape prices in 2005 and 2006 have led to calls for another sponsored vine pull. Cleanskin wines were introduced into Australia during the 1960s as a means to combat oversupply and poor sales. During
3483-461: The UK. 2007 statistics for the North American market show that Australian wine accounted for a 17% share of the total value of US imported wine, behind France with 31% and Italy with 28%. New marketing strategies developed for the key UK market encouraged customers to explore premium Australian brands while maintaining sales of the lower-margin high-volume brands, following research that indicated
3564-442: The United States. The ANZCERTA agreement with New Zealand has greatly increased integration with the economy of New Zealand . Australia's average GDP growth rate for the period 1901–2000 was 3.4% annually. As opposed to many neighbouring Southeast Asian countries, the process towards independence was relatively peaceful and thus did not have significant negative impact on the economy and standard of living. Growth peaked during
3645-528: The ability to raise income tax during the Second World War. In 1942, Canberra invoked its Constitutional taxation power (s. 51 (ii)) and enacted the Income Tax Act and three other statutes to levy a uniform income tax across the country. These acts sought to raise the funds necessary to meet burgeoning wartime expenses and reduce the unequal tax burden between the states by replacing state income taxes with
3726-715: The blend, producing flavours of sweet plums, roasted game and hints of tobacco. Australia's most famous wine is Penfolds Grange . The great 1955 vintage was submitted to competitions beginning in 1962 and over the years has won more than 50 gold medals. The vintage of 1971 won first prize in Syrah/Shiraz at the Wine Olympics in Paris. The 1990 vintage was named 'Red Wine of the Year' by the Wine Spectator magazine in 1995, which later rated
3807-435: The completion of their qualifications) experienced some declines between 2012 and 2015. Some examples are: The Graduate Careers Survey 2014 explained, "However, GCA's Beyond Graduation Survey (BGS) indicates that the middle- and longer-term outlook is very positive, with the employment figures for 2010 graduates growing by 14 percentage points three years later." The Beyond Graduation Survey 2013 included 12,384 responses and
3888-538: The court's earlier decision and confirmed the power of the federal government's power to make s. 96 grants conditionally (in this case, a grant made on the condition that the recipient state does not levy income tax). Since the Second Uniform Tax Case , a number of other political and legal decisions have centralised fiscal power with the Commonwealth. In Ha vs. New South Wales (1997), the High Court found that
3969-531: The crucial US market. Australian wine accounts for a very large imported wine market share in South Asian countries and is the second largest imported wine in India with a market share of 16%. Australia was China's largest supplier of imported wine, a standing achieved in part by free-trade agreements established between the two countries. However, in retaliation for the Australian government's support of an inquiry into
4050-559: The economy, including tourism, education and financial services, constitutes 69% of GDP. Australian National University in Canberra also provides a probabilistic interest-rate-setting project for the Australian economy, which is compiled by shadow board members from the ANU academic staff. Rich in natural resources, Australia is a major exporter of agricultural products, particularly wheat and wool , minerals such as iron ore and gold, and energy in
4131-473: The entryway to the river. He called it "Shoal Haven" because of the low depth of the river mouth. Vineyards and wineries in the Shoalhaven Coast region were established in the 1980s. Therefore, most of them are small, but a lot of people are investing massively over the last decade. The first vineyard in the region was planted by Alexander Berry at Coolangatta Estate on the slopes of Mt. Coolangatta. It
SECTION 50
#17328549140824212-546: The first person to export Australian wine, and was the first winemaker to win an overseas award. In 1830 vineyards were established in the Hunter Valley. In 1833 James Busby returned from France and Spain with a serious selection of grape varieties including most classic French grapes and a good selection of grapes for fortified wine production. Wine from the Adelaide Hills was sent to Queen Victoria in 1844, but there
4293-450: The first winery they get to. This will enable them to taste wine and cheese at each of the participating wineries throughout the festival period. The region is known for producing quality and premium wine. This feat was recognized with more than 1,000 Australian and International wine awards. Australia (wine) The Australian wine industry is one of the world's largest exporters of wine, with approximately 800 million out of
4374-626: The forms of liquified natural gas and coal. Although agriculture and natural resources constitute only 3% and 5% of GDP, respectively, they contribute substantially to Australia's export composition. Australia's largest export markets are Japan, China, South Korea, India and the United States. At the turn of the current century, Australia experienced a significant mining boom. The mining sector's contribution to overall GDP grew from around 4.5% in 1993–94, to almost 8% in 2006–07. The services sector also grew considerably, with property and business services in particular growing from 10% to 14.5% of GDP over
4455-543: The fourth quarter of 2011, and expanded by 1.3% in the first quarter of 2012. The growth rate was reported to be 4.3% year-on-year. The International Monetary Fund in April 2012 predicted that Australia would be the best-performing major advanced economy in the world over the next two years; the Australian Government Department of the Treasury anticipated "forecast growth of 3.0% in 2012 and 3.5% in 2013",
4536-432: The high-altitude Granite Belt region in the state's extreme south, production is centred on the towns of Stanthorpe and Ballandean . Some well-known wine-producing regions include: Greater Perth: South Western Australia: The Australian Wine export market was worth 2.8 billion Australian dollars (A$ ) a year in June 2007, having grown at 9%pa. Of this about A$ 2 billion is accounted for by North America and
4617-774: The late 18th and early 19th centuries. Some varieties have been bred by Australian viticulturists, for example Cienna and Tarrango . The most widely cultivated grape variety in Australia is Shiraz. About 130 different grape varieties are used by commercial winemakers in Australia. Over recent years many winemakers have been rediscovering so-called "alternative varieties" other than those listed above. Many varieties from France, Italy and Spain, for example Petit Verdot , Pinot grigio , Sangiovese , Tempranillo , Nebbiolo , Malbec , Barbera , Arneis , Fiano (grape) and Viognier are becoming more common. Wines from many other varieties are being produced. Australian winemaking results have been impressive and it has established benchmarks for
4698-524: The legislation's validity in the First Uniform Tax Case ( South Australia v Commonwealth ) of 1942. The High Court of Australia held that each of the statutes establishing Commonwealth income tax was a valid use of the s. 51(ii) power, in which Latham CJ noted that the system did not undermine essential state functions and imposed only economic and political pressure upon them. The Second Uniform Tax Case ( Victoria v Commonwealth (1957)) reaffirmed
4779-535: The main economic indicators in 1980–2023 (with IMF staff estimates in 2024–2027). Inflation under 5% is in green. (in bil. US$ PPP) (in US$ PPP) (in bil. US$ nominal) (in US$ nominal) (real) (in percent) (in percent) (in % of GDP) Australia's per-capita GDP is higher than that of the UK, Canada, Germany and France in terms of purchasing power parity . Per Capita GDP (PPP) Australia
4860-412: The most pronounced vertical fiscal imbalances in the world: the states and territories collect just 18% of all governmental revenues but are responsible for almost 50% of the spending areas. Furthermore, the centralisation of revenue collection has allowed Canberra to force state policy in areas well beyond the scope of its constitutional powers, by using the grants power (s.96) to mandate the terms on which
4941-609: The net income outlay between Australia and the rest of the world is always negative. The current account deficit totalled AUD$ 44.5 billion in 2016 or 2.6% of GDP. Inflation has typically been between 2 and 3% and the pre-GFC cash rate typically ranged between 5 and 7%, however, partly in response to the end of the mining boom the cash rate has recently been steadily falling, dropping from 4.75% in October 2011 to 1.5% in Aug 2016, then to 1.25% in June 2019 and 1.0% in July 2019. The service sector of
SECTION 60
#17328549140825022-517: The off-season at home. They are an important resource in the globalisation of wine and wine critic Matt Kramer notes that "the most powerful influence in wine today" comes from Australia. GSM is a name commonly used for a red wine consisting of a blend of Grenache , Shiraz (Syrah), and Mourvèdre . Blends where Shiraz is the main component are sometimes referred to instead as SGM . This blend originated from those used in some Southern Rhône wines , including Châteauneuf-du-Pape , though it
5103-544: The origins of Covid-19, China imposed tariffs of over 200% on Australian wine in October 2020. These tariffs have been lifted as of April 2024 following an improvement in relations between the two countries. Canada is the fourth-largest export market for Australian wines with the major exporting provinces being British Columbia, Ontario and Quebec. With the restrictions on the sale of Australian wine being removed in British Columbia, Australian wine will be on more shelves in
5184-470: The particular Terroir such as: climatic differences, topography and soil types . The major varieties are predominantly Shiraz , Cabernet Sauvignon , Chardonnay , Merlot , Semillon , Pinot noir , Riesling , and Sauvignon blanc . Wines are often labelled with the name of their grape variety, which must constitute at least 85 percent of the wine. Vine cuttings from the Cape of Good Hope were brought to
5265-414: The province with lower tariffs. Australian wine research and production is supported by the government through partnerships with the publicly funded CSIRO and Wine Australia worth $ 18 million. In an average year, alcohol production in Australia is estimated to produce between $ 3.3 and $ 5.5 billion in taxable income. Economy of Australia Australia is a highly developed country with
5346-474: The same period, making it the largest single component of GDP (in sectoral terms). This growth has largely been at the expense of the manufacturing sector, which in 2006–07 accounted for around 12% of GDP. A decade earlier, it was the largest sector in the economy, accounting for just over 15% of GDP. In 2018 Australia became the country with the largest median wealth per adult, but slipped back to second highest after Switzerland in 2019. Australia's total wealth
5427-500: The source of the grapes. Many names (called geographic indications ) are protected. These are divided into "South Eastern Australia", the state names , zones (shown in the map), regions, and subregions. The largest volume of wine is produced from grapes grown in the warm climate Murray-Darling Basin zones of Lower Murray , North Western Victoria and Big Rivers. In general, the higher-value premium wines are made from smaller and cooler-climate regions. The South Australian wine industry
5508-654: The states spend money in areas over which it has no power (such as spending on education, health and policing). Local governments (called councils in Australia) have their own taxes (called rates) to enable them to provide services such as local road repairs, local planning and building management, garbage collection, street cleaning, park maintenance services, libraries, and museums. Councils also rely on state and federal funding to provide infrastructure and services such as roads, bridges, sporting facilities and buildings, aged care, maternal and child health, and childcare. In 2000,
5589-449: The unemployment rate for this group decreased by 0.2 points to 9.3%. According to the ABS, in October 2024, the underemployment rate decreased by 0.1 points to 6.2%, while the underutilisation rate (the unemployed plus the under-employed) remained steady at 10.4% in trend terms. According to Roy Morgan Research the unemployment rate in April 2019 was 8.9%, while Australian workers who were considered either unemployed or underemployed
5670-468: The unemployment rate rose to 10.8%. However, the recession did assist in reducing long-term inflation rate expectations and Australia has maintained a low inflation environment since the 1990s to the present day. Mining has contributed to Australia's high level of economic growth, from the gold rush in the 1840s to the present day. The opportunities for large profits in pastoralism and mining attracted considerable amounts of British capital, while expansion
5751-482: The world in terms of domestic market capitalisation and has one of the largest interest rate derivatives markets in the Asia-Pacific region . Some of Australia's largest companies include Commonwealth Bank , BHP , CSL , Westpac , NAB , ANZ , Fortescue , Wesfarmers , Macquarie Group , Woolworths Group , Rio Tinto , Telstra , Woodside Energy and Transurban . The currency of Australia and its territories
5832-577: The world with 54 litres. Only 16.6% of wine sold domestically is imported. Wine is produced in every state, with more than 60 designated wine regions totalling approximately 160,000 hectares; however Australia's wine regions are mainly in the southern, cooler parts of the country, with vineyards located in South Australia , New South Wales , Victoria , Western Australia , Tasmania and Queensland . The wine regions in each of these states produce different wine varieties and styles that take advantage of
5913-472: The world's largest producer of iron ore ; the world's largest producer of bauxite ; the 2nd largest world producer of manganese ; 2nd largest world producer of lead ; 3rd largest world producer of zinc ; 3rd largest world producer of cobalt ; 3rd largest producer of uranium ; 6th largest producer of nickel ; 8th largest world producer of tin ; 14th largest world producer of phosphate ; 15th largest world producer of sulfur ; in addition to being
5994-410: The world). The country was the 20th largest oil importer in the world in 2018 (461.9 thousand barrels / day). In 2015, Australia was the 12th largest world producer of natural gas , 67.2 billion m3 per year. In 2019, the country was the 22nd largest gas consumer (41.9 billion m3 per year) and was the 10th largest gas exporter in the world in 2015: 34.0 billion m3 per year. In the production of coal ,
6075-404: The years with the establishment of new wineries and increased number of visitors to the area. This has positioned the region in the forefront of North South Wales wine industry. Shoalhaven Coast holds a Winter wine festival every year in June. The festival is supported by wine tours from Sydney and Wollongong. It offers winery tours, outdoor entertainment and regional food tastings. Shoalhaven
6156-462: Was 8.4% of GDP. Despite the recent decline in the mining sector, the Australian economy has remained resilient and stable and did not experience a recession from 1991 until 2020. Among OECD members, Australia has a highly efficient and strong social security system , which comprises roughly 25% of GDP . The Australian Securities Exchange in Sydney is the 16th-largest stock exchange in
6237-489: Was estimated to be 17.7% (2.381 million) in the same month. Around 4.219 million were estimated to be in part-time employment. In 2007, 228,621 Newstart unemployment allowance recipients were registered, a total that increased to 646,414 or 5.3% of the total labour force by March 2013. As of December 2018, the number of Newstart recipients stands at 722,923 or 5.4% of the labour force. The accuracy of official unemployment figures has been brought into question in
6318-603: Was estimated to be AUD$ 10.9 trillion as of September 2019. Between 2010 and 2013, much of the economic growth in Australia was attributed to areas of the country where mining- and resource-based industries and services are mostly located. Western Australia and the Northern Territory are the only states that have economic growth. During 2012 and 2013 Australian Capital Territory , Queensland , Tasmania , South Australia, New South Wales and Victoria experienced recessions at various times. The Australian economy
6399-416: Was facing decline, which eventually led to a savings and loan crisis which compromised the well-being of millions of US people. The following recession thus impacted the many countries closely linked to the US, including Australia. Paul Keating, who was treasurer at the time, famously referred to it as "the recession that Australia had to have." During the recession, GDP fell by 1.7%, employment by 3.4% and
6480-471: Was supported by enormous government outlays for transport, communication, and urban infrastructures, which also depended heavily on British finance. As the economy expanded, large-scale immigration satisfied the growing demand for workers, especially after the end of convict transportation to the eastern mainland in 1840. Australia's mining operations secured continued economic growth and Western Australia itself benefited strongly from mining iron ore and gold from
6561-617: Was undertaken. The early 1990s recession came swiftly after the Black Monday of October 1987 , as a result of a stock collapse of unprecedented size which caused the Dow Jones Industrial Average to fall by 22.6%. This collapse, larger than the stock market crash of 1929 , was handled effectively by the global economy and the stock market began to quickly recover. But in North America, the lumbering savings and loans industry
#81918