australia last updated january 2007 background is rich in energy resources and leads the world total coal exports has exhibited robust economic growth over decade spite of a strong australian dollar that depressed however 2006 severe drought increasing inflation high oil prices all contributed to deceleration country achieved 2 5 percent increase real gross domestic product gdp down from 7 rate 2005 overview natural with significant petroleum gas reserves s consumption dominated by which fuels most power generation accounts for large share but due declining output facing growing dependence on imports past two decades steadily consumed amounts likely continue medium term one few countries belonging organization cooperation development oecd net exporter largest
