Government Type: federal parliamentary democracy and a Commonwealth realm

Capital: Canberra Geographic Coordinates: 35 17 S, 149 13 E

Independence: 1 January 1901 (from the federation of UK colonies)

National holiday: Australia Day, 26 January (1788); ANZAC Day (commemorated as the anniversary of the landing of troops of the Australian and New Zealand Army Corps during World War I at Gallipoli, Turkey), 25 April (1915)

Constitution: 9 July 1900; effective on 1 January 1901

Legal system: based on English common law; accepts compulsory ICJ jurisdiction with reservations; accepts International Criminal Court jurisdiction with conditions

Suffrage: 18 years of age; universal and compulsory

Economy Overview: Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia's trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the Rudd government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.5% during the first three quarters of 2009 - the best performance in the OECD. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.3% by February 2010. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. The Australian financial system remained resilient throughout the financial crisis and Australian banks have rebounded. Australia was one of the first advanced economies to raise interest rates - three times since October 2009 - and the government removed the wholesale funding guarantee for financial institutions in March 2010. During 2010, the government will focus on raising Australia's economic productivity, managing the symbiotic, but sometimes tense, economic relationship with China, passing emissions trading legislation, and dealing with other climate-related issues such as drought and devastating bushfires. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China and Japan.

International Disputes: In 2007 Australia and Timor-Leste signed a 50-year development zone and revenue sharing agreement in lieu of a maritime boundary; dispute with Timor-Leste hampers creation of a revised maritime boundary with Indonesia in the Timor Sea; regional states continue to express concern over Australia's 2004 declaration of a 1,000-nautical mile-wide maritime identification zone; Australia asserts land and maritime claims to Antarctica; in 2004 Australia submitted its claims to Commission on the Limits of the Continental Shelf (CLCS) to extend its continental margins covering over 3.37 million square kilometers, expanding its seabed roughly 30 percent more than its claimed exclusive economic zone; since 2003, Australia has led the Regional Assistance Mission to the Solomon Islands (RAMSI) to maintain civil and political order and reinforce regional security