Aboriginal settlers arrived on the continent from Southeast Asia about 40,000 years before the first Europeans began exploration in the 17th century.

No formal territorial claims were made until 1770, when Capt. James COOK took possession in the name of Great Britain.

Six colonies were created in the late 18th and 19th centuries; they federated and became the Commonwealth of Australia in 1901.

The new country took advantage of its natural resources to rapidly develop agricultural and manufacturing industries and to make a major contribution to the British effort in World Wars I and II.

In recent decades, Australia has transformed itself into an internationally competitive, advanced market economy.

It boasted one of the OECD's fastest growing economies during the 1990s, a performance due in large part to economic reforms adopted in the 1980s.

Long-term concerns include pollution, particularly depletion of the ozone layer, and management and conservation of coastal areas, especially the Great Barrier Reef.

Source: CIA World Fact Book

Population: 20,434,176 (July 2007 est.)

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Age structure: 0-14 years: 19.3% (male 2,023,375/female 1,929,229) 15-64 years: 67.4% (male 6,945,068/female 6,831,653) 65 years and over: 13.2% (male 1,197,494/female 1,507,357) (2007 est.)

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Median age: total: 37.1 years male: 36.3 years female: 38 years (2007 est.)

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Population growth rate: 0.824% (2007 est.)

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Birth rate: 12.02 births/1,000 population (2007 est.)

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Death rate: 7.56 deaths/1,000 population (2007 est.)

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Net migration rate: 3.78 migrant(s)/1,000 population (2007 est.)

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Sex ratio: at birth: 1.05 male(s)/female under 15 years: 1.049 male(s)/female 15-64 years: 1.017 male(s)/female 65 years and over: 0.794 male(s)/female total population: 0.99 male(s)/female (2007 est.)

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Infant mortality rate: total: 4.57 deaths/1,000 live births male: 4.95 deaths/1,000 live births female: 4.16 deaths/1,000 live births (2007 est.)

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Life expectancy at birth: total population: 80.62 years male: 77.75 years female: 83.63 years (2007 est.)

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Total fertility rate: 1.76 children born/woman (2007 est.)

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HIV/AIDS - adult prevalence rate: 0.1% (2003 est.)

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HIV/AIDS - people living with HIV/AIDS: 14,000 (2003 est.)

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HIV/AIDS - deaths: less than 200 (2003 est.)

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Nationality: noun: Australian(s) adjective: Australian

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Ethnic groups: white 92%, Asian 7%, aboriginal and other 1%

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Religions: Catholic 26.4%, Anglican 20.5%, other Christian 20.5%, Buddhist 1.9%, Muslim 1.5%, other 1.2%, unspecified 12.7%, none 15.3% (2001 Census)

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Languages: English 79.1%, Chinese 2.1%, Italian 1.9%, other 11.1%, unspecified 5.8% (2001 Census)

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Literacy: definition: age 15 and over can read and write total population: 99% male: 99% female: 99% (2003 est.)

Australia has an enviable Western-style capitalist economy with a per capita GDP on par with the four dominant West European economies. Robust business and consumer confidence and high export prices for raw materials and agricultural products are fueling the economy. Australia's emphasis on reforms, low inflation, and growing ties with China are other key factors behind the economy's strength. Drought and strong import demand pushed the trade deficit up in recent years, although the trade balance improved in 2006. Housing prices probably peaked in 2005, diminishing the prospect that interest rates would be raised to prevent a speculative bubble. Conservative fiscal policies have kept Australia's budget in surplus since 2002.

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GDP (purchasing power parity): $674.6 billion (2006 est.)

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GDP (official exchange rate): $644.7 billion (2006 est.)

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GDP - real growth rate: 2.7% (2006 est.)

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GDP - per capita (PPP): $33,300 (2006 est.)

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GDP - composition by sector: agriculture: 3.8% industry: 26.2% services: 70% (2005 est.)

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Labor force: 10.66 million (2006 est.)

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Labor force - by occupation: agriculture: 3.6% industry: 21.2% services: 75.2% (2004 est.)

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Unemployment rate: 4.9% (2006 est.)

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Population below poverty line: NA%

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Household income or consumption by percentage share: lowest 10%: 2% highest 10%: 25.4% (1994)

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Distribution of family income - Gini index: 35.2 (1994)

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Inflation rate (consumer prices): 3.8% (2006 est.)

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Investment (gross fixed): 26.8% of GDP (2006 est.)

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Budget: revenues: $267 billion expenditures: $258 billion; including capital expenditures of $NA (2006 est.)

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Public debt: 14.1% of GDP (2006 est.)

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Agriculture - products: wheat, barley, sugarcane, fruits, cattle, sheep, poultry

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Industries: mining, industrial and transportation equipment, food processing, chemicals, steel

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Industrial production growth rate: -3.5% (2006 est.)

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Electricity - production: 225.3 billion kWh (2004)

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Electricity - consumption: 209.5 billion kWh (2004)

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Electricity - exports: 0 kWh (2004)

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Electricity - imports: 0 kWh (2004)

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Oil - production: 530,000 bbl/day (2005 est.)

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Oil - consumption: 877,300 bbl/day (2004 est.)

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Oil - exports: 333,200 bbl/day (2004)

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Oil - imports: 611,400 bbl/day (2004)

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Oil - proved reserves: 1.491 billion bbl (1 January 2005)

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Natural gas - production: 37.03 billion cu m (2004 est.)

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Natural gas - consumption: 26.37 billion cu m (2004 est.)

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Natural gas - exports: 10.66 billion cu m (2004 est.)

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Natural gas - imports: 0 cu m (2004 est.)

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Natural gas - proved reserves: 821.2 billion cu m (1 January 2005 est.)

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Current account balance: -$41.62 billion (2006 est.)

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Exports: $117 billion (2006 est.)

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Exports - commodities: coal, gold, meat, wool, alumina, iron ore, wheat, machinery and transport equipment

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Exports - partners: Japan 19.6%, China 12.3%, South Korea 7.5%, US 6.2%, India 5.5%, NZ 5.5%, UK 5% (2006)

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Imports: $127.7 billion (2006 est.)

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Imports - commodities: machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products

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Imports - partners: China 14.4%, US 14.1%, Japan 9.6%, Singapore 6%, Germany 5.1% (2006)

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Reserves of foreign exchange and gold: $48.25 billion (2006 est.)

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Debt - external: $585.1 billion (30 June 2006 est.)

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Economic aid - donor: ODA, $894 million (FY99/00)

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Currency (code): Australian dollar (AUD)

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Exchange rates: Australian dollars per US dollar - 1.3285 (2006), 1.3095 (2005), 1.3598 (2004), 1.5419 (2003), 1.8406 (2002)

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Fiscal year: 1 July - 30 June