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Australia has a prosperous Western-style capitalist economy, with a per capita GDP on par with the four dominant West European economies. Rising output in the domestic economy has been offsetting the global slump, and business and consumer confidence remains robust. Australia's emphasis on reforms is another key factor behind the economy's strength. The stagnant economic conditions in major export partners and the impact of the worst drought in 100 years cast a shadow over prospects for 2003.
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Mining, industrial and transportation equipment, food processing, chemicals, steel.
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Wheat, barley, sugarcane, fruits; cattle, sheep, poultry.
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