Instruct: Given a question, retrieve relevant passages that can help answer the question.
Query: What's Australia's GDP?
The economy of Australia is a large mixed-market economy, with a GDP of A$1.69 trillion as of 2017. In 2018 Australia overtook Switzerland, and became the country with the largest median wealth per adult. Australia's total wealth was AUD$8.9 trillion as of June 2016. In 2016, Australia was the 14th-largest national economy by nominal GDP, 20th-largest by PPP-adjusted GDP, and was the 25th-largest goods exporter and 20th-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, the 103rd quarter and marked 26 years since the country had a technical recession (two consecutive quarters of negative growth).
The Greater Austin metropolitan statistical area had a gross domestic product (GDP) of $86 billion in 2010. Austin is considered to be a major center for high tech. Thousands of graduates each year from the engineering and computer science programs at the University of Texas at Austin provide a steady source of employees that help to fuel Austin's technology and defense industry sectors. The region's rapid growth has led "Forbes" to rank the Austin metropolitan area number one among all big cities for jobs for 2012 in their annual survey and WSJ Marketwatch to rank the area number one for growing businesses. By 2013, Austin was ranked No. 14 on "Forbes"' list of the Best Places for Business and Careers (directly below Dallas, No. 13 on the list). As a result of the high concentration of high-tech companies in the region, Austin was strongly affected by the dot-com boom in the late 1990s and subsequent bust. Austin's largest employers include the Austin Independent School District, the City of Austin, Dell, the U.S. Federal Government, NXP Semiconductors, IBM, St. David's Healthcare Partnership, Seton Family of Hospitals, the State of Texas, the Texas State University, and the University of Texas at Austin.
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.
Gross domestic product (GDP) is the total dollar value of all goods an economy produces over a given time, usually expressed as a comparison to the previous quarter or year. If the year to year GDP is up 5 percent, then the economy has grown 5 percent. There are two approaches - the income approach (adding up all earnings over a year) and the expenditures approach (adding up what everyone spent). The income approach is described as the total employee compensation, gross profit for corporations and non-incorporated firms, and taxes minus subsidies. The expenditures method is more common and it specifically combines total consumption within households, and the total investment within a business. It also reveals how much money the government is spending and the balance of trade. Another factor by which is not promptly supportive are the youngsters who play a role within GDP. They clearly do not add to it and do not help the stock and bond market returns. Youngsters are wellsprings of advancement, entrepreneurial souls and play a major incentive to GDP.
The main way of measuring poverty is to set a poverty line and then determine how many people fall below this line. Poverty lines can be set as either absolute poverty lines or relative poverty lines. Australia does not have an official poverty line, either absolute or relative. The 2012 report entitled Poverty in Australia used two poverty lines and also took account of people's housing costs. One poverty line used by the OECD and in this study, referred to half of the middle income for all households, that is, 50% of median household income and the other is 60% of median income.
Surrounded by the Indian and Pacific oceans, Australia is separated from Asia by the Arafura and Timor seas, with the Coral Sea lying off the Queensland coast, and the Tasman Sea lying between Australia and New Zealand. The world's smallest continent and sixth largest country by total area, Australia—owing to its size and isolation—is often dubbed the "island continent", and is sometimes considered the world's largest island. Australia has of coastline (excluding all offshore islands), and claims an extensive Exclusive Economic Zone of . This exclusive economic zone does not include the Australian Antarctic Territory. Apart from Macquarie Island, Australia lies between latitudes 9° and 44°S, and longitudes 112° and 154°E.
A leading factor for the proposal of New Zealand as a state of Australia is the major economic benefits it could bring. However, free trade and open borders now appear to be the maximum extent of public acceptance of the proposal. There are many family connections between the two nations, with around 500,000 New Zealanders living in Australia and 60,000 Australians living in New Zealand as of 2013. Peter Slipper, a former Member of Australia's Parliament, once said, "It's about how can we improve the quality of living for people on both sides of the Tasman" when referring to the proposal.
With the inauguration of the Commonwealth of Australia on 1 January 1901, Sydney ceased to be a colonial capital and became the capital of the Australian state of New South Wales. With industrialisation, Sydney expanded rapidly, and by the early 20th century it had a population well in excess of one million.
Queensland's capital city, Brisbane is located in the most populous region South East Queensland. Also located here is the Gold Coast, Ipswich, Logan, Redcliffe City and Toowoomba the second largest inland city in Australia is located 120 km west of Brisbane on the Darling Downs as well as Warwick.
Perth ( ) is the capital and largest city of the Australian state of Western Australia. It is the fourth-most populous city in Australia, with a population of 2.04 million living in Greater Perth. Perth is part of the South West Land Division of Western Australia, with the majority of the metropolitan area located on the Swan Coastal Plain, a narrow strip between the Indian Ocean and the Darling Scarp. The first areas settled were on the Swan River at Guildford, with the city's central business district and port (Fremantle) both later founded downriver.
The NRL Grand Final, which determines the Australian rugby league football season's premiers, is one of Australia's major sporting events and one of the largest attended club championship events in the world. Since 1999 it has been contested at Sydney's Stadium Australia, which was the primary athletics venue for the 2000 Olympic Games. The first year it was held at Stadium Australia, the National Rugby League grand final broke the record for attendance at an Australian rugby league game, with 107,999 people attending.
The economy of Canada is a highly developed mixed economy with 10th largest GDP by nominal and 16th largest GDP by PPP in the world. As with other developed nations, the country's economy is dominated by the service industry, which employs about three quarters of Canadians. Canada has the fourth highest total estimated value of natural resources, valued at US$33.2 trillion in 2016. It has the world's third largest proven petroleum reserves and is the fourth largest exporter of petroleum. It is also the fourth largest exporter of natural gas. Canada is considered an "energy superpower" due to its abundant natural resources and small population.
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually 
GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.
The Ambassador and Permanent Representative of Australia to the World Trade Organization is an officer of the Australian Department of Foreign Affairs and Trade and the head of the Permanent Mission of the Commonwealth of Australia to the World Trade Organization (WTO) in Geneva, Switzerland. The position has the rank and status of an Ambassador Extraordinary and Plenipotentiary and continues Australia's representation to the General Agreement on Tariffs and Trade (GATT; 1948–1995), as a charter member joining the WTO to replace the GATT on 1 January 1995. The Permanent Mission to the WTO is based with the Australian Permanent Mission and Consulate-General in Geneva. Prior to 1983, the role of Australia's representative on the GATT was filled by the Permanent Representative of Australia to the United Nations Office in Geneva.
Section 24 of the Constitution of Australia requires that the total number of members of the Australian House of Representatives shall be "as nearly as practicable" twice as many as the number of members of the Australian Senate. There is presently a total of 76 senators: 12 senators from each of the six states and two from each of the two autonomous internal territories (the Australian Capital Territory and the Northern Territory). There are 150 members of the Australian House of Representatives.
Kenya's economy is market-based with a few state-owned infrastructure enterprises and maintains a liberalised external trade system. The country is generally perceived as Eastern Africa's hub for Financial, Communication and Transportation services. Major industries include: agriculture, forestry and fishing, mining and minerals, industrial manufacturing, energy, tourism and financial services. As of 2019 estimates, Kenya had a GDP of $98.264 billion making it the 65th largest economy in the world. Per capita GDP was estimated at $1,991.
The Commonwealth of Australia was formed in 1901 as a result of an agreement among six self-governing British colonies, which became the six states. The terms of this contract are embodied in the Australian Constitution, which was drawn up at a Constitutional Convention and ratified by the people of the colonies at referendums. The Australian head of state is the Queen of Australia who is represented by the Governor-General of Australia, with executive powers delegated by constitutional convention to the Australian head of government, the Prime Minister of Australia.
A record 1,311,184 people played cricket across Australia in 2015–16, an 8.5 per cent increase on 2014–15 – placing cricket at No.1 as the current top participation sport in Australia. Women participation also reached record figures in 2015–16, growing nine percent to 314,936 players. According to Cricket Australia's annual report of 2014–15, 1,208,360 Australians played formal, organised cricket during the year, an increase of nine percent over the previous year. Separately, official audience data shows that 93.6% of Australians watched at least some cricket on TV in 2010–11 calendar year.
Gross domestic product (GDP) is a measure of aggregate output. Nominal GDP in a particular period reflects prices which were current at the time, whereas real GDP compensates for inflation. Price indices and the U.S. National Income and Product Accounts are constructed from bundles of commodities and their respective prices. In the case of GDP, a suitable price index is the GDP price index. In the U.S. National Income and Product Accounts, nominal GDP is called "GDP in current dollars" (that is, in prices current for each designated year), and real GDP is called "GDP in [base-year] dollars" (that is, in dollars that can purchase the same quantity of commodities as in the base year).
Australia entered World War II on 3 September 1939, following the government's acceptance of the United Kingdom's declaration of war on Nazi Germany. Following attacks on Allied countries, the Australian government later declared war on other members of the Axis powers, including the Kingdom of Italy (11 June 1940) and the Empire of Japan (8 December 1941). By the end of the war, almost a million Australians had served in the armed forces, whose military units fought primarily in the European theatre, North African campaign, and the South West Pacific theatre. In addition, Australia came under direct attack for the first time in its post-colonial history. Its casualties from enemy action during the war were 27,073 killed and 23,477 wounded.
Queensland (abbreviated as Qld) is the second-largest and third-most populous state in the Commonwealth of Australia. Situated in the north-east of the country, it is bordered by the Northern Territory, South Australia and New South Wales to the west, south-west and south respectively. To the east, Queensland is bordered by the Coral Sea and Pacific Ocean. To its north is the Torres Strait, with Papua New Guinea located less than 200 km across it from the mainland. The state is the world's sixth-largest sub-national entity, with an area of .
There are currently an estimated 2,000 pig producers in Australia, producing 5 million pigs annually (Productivity Commission). Although relatively small on the world stage (0.4% world production), the industry provides a significant positive impact on local, regional, state, and national economies through income generation and employment. The pork industry contributes approximately $970m to Australia's GDP and the supply chain contributes $2.6billion to the GDP. The industry generates over $1.2b of household income, directly employing 6,500 full-time positions, and the supply chain employs 29,000 people. The Australian pork industry is represented by Australian Pork Limited, a producer-run company created by legislation.
Ranked fifth in the Index of Economic Freedom (2017), Australia is the world's twelfth largest economy and has the sixth highest per capita GDP (nominal) at US$56,291. The country was ranked second in the United Nations 2016 Human Development Index. Melbourne reached top spot for the fourth year in a row on "The Economist"'s 2014 list of the world's most liveable cities, followed by Adelaide, Sydney, and Perth in the fifth, seventh, and ninth places respectively. Total government debt in Australia is about A$190 billion—20% of GDP in 2010. Australia has among the highest house prices and some of the highest household debt levels in the world.
In the late 19th century, Australia's economic strength relative to the rest of the world was reflected in its GDP. In 1870, Australia had the highest GDP per capita in the world due to economic growth fuelled by its natural resources. However, as Australia's population grew rapidly over the 20th century, its GDP per capita dropped relative to countries such as the US and Norway. However, the Australian economy has been performing nominally better than other economies of the OECD and has supported economic growth for over 20 consecutive years. According to the Reserve Bank of Australia, Australian per capita GDP growth is higher than that of New Zealand, US, Canada and The Netherlands. The past performance of the Australian economy has been heavily influenced by US, Japanese and Chinese economic growth.
Since 2008, inflation has typically been 2–3% and the base interest rate 5–6%. The service sector of the economy, including tourism, education, and financial services, accounts for about 70% of GDP. 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 the forms of liquified natural gas and coal. Although agriculture and natural resources account for only 3% and 5% of GDP respectively, they contribute substantially to export performance. Australia's largest export markets are Japan, China, the US, South Korea, and New Zealand. Australia is the world's fourth largest exporter of wine, and the wine industry contributes A$5.5 billion per year to the nation's economy.