ACT economy the equal of Ethiopia
The ACT’s economy now rivals that of the entire nation of Ethiopia.
The Australian Bureau of Statistics reported on Wednesday that Canberra’s economic output for the last financial year was $31.5 billion.
Of that, public administration and safety make up around one third – $9.8 billion – followed by $3 billion from construction.
The territory’s output has grown by $7 billion over the last eight years, according to the bureau.
The most recent rankings of nations’ gross domestic product shows Ethiopia at US$31.7 billion in 2011.
With the boom continuing in Western Australia, the ABS figures show that state now accounts for 16.2 per cent of the national output, with the other resources-rich state, Queensland, supplying 19 per cent, while NSW remained dominant, at 34 per cent.