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.
Canberra is the capital city of Australia and is Australia’s largest inland city and the eighth largest Australian city overall. Canberra’s main industry is government administration and defence employing over 40% of Canberra’s workforce. The unemployment rate in Canberra is well below the national unemployment rate, with labour shortages reported in some sectors. As a result of low unemployment and substantial levels of public sector and commercial employment, Canberra has the highest average disposable income of any Australian capital city.
Canberra 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 rank for each of the 13 Basket Groups is now available.