Australia is set to become a key player in the development and deployment of low carbon liquid fuels, including Renewable Diesel and Sustainable Aviation Fuel (SAF) with renewable fuels forming a key component of the 2024-25 Federal Budget and the highest funded transport decarbonisation priority in this year’s budget.
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The Australian economy is dominated by the services sector (including tourism, education and financial services), which covers about 68% of GDP.

The mining sector accounts for 10% of GDP. Australia is one of the leaders in the production of diamonds, bauxite, lead, zircon, exports coal, iron ore, zinc, lead, as well as oil and gas.

Economic growth is heavily dependent on the mining and agricultural sectors, whose products are mainly exported to East Asian markets. Over the past decade, one of the main trends in the sector economy has been the growth of the mining sector (including oil).

In Australia, the forestry and timber processing industry is developed, in particular, eucalyptus is harvested, pine is grown on plantation farms.

The food industry in Australia has a clear export orientation.

Engineering companies in Australia produce agricultural machinery, automobiles, locomotives, industrial machines and other products.

The share of raw materials in exports is significant — 54 %

The electric power generation is one of the most important sectors of the socio-economic infrastructure of the country. Electricity production according to the results for the 2019 calendar year — 265117 million kWh. In the structure of production, coal accounts for 43.9%, brown coal — 12.5%, natural gas — 20.5%, petroleum products — 2.2% and 20.9% — renewable energy sources. Of the 55.481 billion kWh generated by renewable energy in 2019, 35.2% was wind energy, 32.4% was solar energy, 26.0% was hydropower and 6.4% was biofuels.

The central bank of the country is the Reserve Bank of Australia. Its task, in accordance with the charter, is to conduct a monetary and banking policy capable of ensuring the stability of the country's currency, maintaining full employment, economic prosperity and the well-being of the population. One of the ways to solve these problems is to keep consumer price inflation within 2-3% per year.