Question

In: Economics

write a paragraph describing the natural resources of Australia and its contributions to the countries economy.

write a paragraph describing the natural resources of Australia and its contributions to the countries economy.

Solutions

Expert Solution

NATURAL RESOURCES IN AUSTRALIA

In terms of mineral resources, Australia is the world's largest exporter of LNG, coal, lead, gold, uranium, aluminum, titanium, zirconium and iron ore. We are among the top five worldwide exporters of lithium, manganese, zinc, copper, cobalt and diamonds. We have the seventh largest proven oil reserve in the world.

In terms of agricultural resources, australia export more than 60% of the food  their grow (currently 25 million Australians produce enough food for over 60 million people) and much of the arable land in the north is vastly underutilized.
The wealth of natural resources in this country is outstanding . Especially when this is calculated based on population, it is the value of the natural resources of a continent shared by just 25 million people.
Minerals and energy resources are an important component of the Australian economy, especially in the state of Western Australia. The recent “mining boom” has been a hotly debated topic for the past 7 years, generating significant revenue for state and federal governments. In addition to an economic gain, mining is essential to provide the raw materials on which modern society depends

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