Australia seems to be headed towards real stagnation in terms of growth in future. The next 4 years are very critical. Data from Global Insight shows that even though in absolute terms, the GDP will grow from US$ 1081.8 billion now to US$ 3279.7 billion after 2013, the percentage growth in GDP will be at the current rate of 3.2% annually till 2012, after which it will decline to 3.1% annually.
Australia is trying to maximize on the tourism front to try and overcome this problem, but what adds to its predicament is that its share of world exports will stagnate at 1.1% till 2012 after which it will stand at 0.9%. Now that’s some serious problem in hand for any nation.
Australia seems to be headed towards real stagnation in terms of growth in future. The next 4 years are very critical. Data from Global Insight shows that even though in absolute terms, the GDP will grow from US$ 1081.8 billion now to US$ 3279.7 billion after 2013, the percentage growth in GDP will be at the current rate of 3.2% annually till 2012, after which it will decline to 3.1% annually. 
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