Trade and economic performance.

 

In the second a moiety of the 20th century, Australian trade shifted away from Europe and North America to Japan and other East Asian markets. Regional franchising businesses, now a $128 billion sector, have been operating co-branded sites overseas for years with incipient investors emanating from Western Australia and Queensland.

In the tardy 19th century, Australia's economic vigor relative to the rest of the world was reflected in its GDP. In 1870, Australia had the highest GDP per capita in the world due to economic magnification fuelled by its natural resources. 

However, as Australia's population grew rapidly over the 20th century, its GDP per capita dropped relative to countries such as the US and Norway. However, the Australian economy has been performing nominally better than other economies of the OECD and has fortified economic magnification for over 20 consecutive years. According to the Reserve Bank of Australia, Australian per capita GDP magnification is higher than that of Incipient Zealand, US, Canada and The Netherlands. The past performance of the Australian economy has been heavily influenced by US, Japanese and Chinese economic magnification.