Australia incomes have historically grown over the past 100 years?

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In 1900 The largest industry of Australia was agriculture,forestry,fishing with GDP of 19.4%.15% GDP was on service industries.3.4% GDP is related to Government administration and defence.From 1900 to 1950 Manufacturings GDP doubled to 22.4%..In 2000-01 5.6% GDP was contributed by mining industry,The iron ore production has been increased in 1960 which increased the GDP of mining ,5million iron ore was produced.In 1961 the coal production is 41 million tonnes but it has increased to 73 million tonnes in 1971.The GDP of government administration and defence has been increased to 5 % in 1973.Education,finance,health services,communication services,etc of service industry group has contributed 50% GDP in 2002.The GDP of 10% is contributed by dwelling rent industry,over past 100 years we can see statistical growth in economy of Australia in major industries like agriculture,forestry,fishing,construction and government administration.Thus Australia has increased economic growth over past 100 years.

Rahul Sunny answered 1 year ago

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