The economy of Australia is a prosperous, free market economy dominated by its services sector, representing 68% of Australian GDP. The agricultural and mining sectors (10% of GDP combined) account for 57% of the nation’s exports.
Sydney is the largest city in Australia, and the state capital of New South Wales. The largest economic sectors in Sydney, as measured by the number of people employed, include property and business services, retail, manufacturing, and health and community services. Since the 1980s, jobs have moved from manufacturing to the services and information sectors. Sydney provides approximately 25 percent of the country’s total GDP.
Sydney has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.
The latest cost of living overview for each of the 13 Basket Groups is now available.