Question

How do natural resources affect Australia's economy

Answer 1

Answer:

Natural resources are important exports for Australia.

Explanation:

Australia is a country plentiful in natural resources, much of which hasn't even been drawn yet. Australian exports are growing nowadays; certainly, the greatest level of exports was approached in February 2014, at a price of $23.8 billion U.S. dollars. The natural resources of Australia cover various famous coal, iron ore, and gold, though further oil, gas, rare earth, copper, tin, bauxite, silver, uranium, diamonds, and different metals.

Metals like iron-ore and gold equal 28% of Australian exports, although coal isn't very sluggish at 18%. A full 60% of the coal drilled is transported, producing capital to the Australian marketplace and presenting them the biggest exporter of coal in the globe.

Answer 2

Natural resources contribute so much in Australia’s economy, like the mining industry billion of its resources projects initiated in Australia. This also contributes 8 per cent to its GDP and around 60 per cent of its export. Its export earnings from the resource and energy give also a big impact to its economic status. Australia’s rich in natural resources also in agriculture help very much in their economic state.