Part of the country series of articles.
TRAVEL ADVISORY: NORMAL PRECAUTIONSThe Commonwealth advises travellers to exercise normal precautions when travelling in this country. Travellers should familiarise themselves with local laws and customs and consular availability.
| Commonwealth of Australia | |
|---|---|
| Federal Constitutional Monarchy | |
 |
|
| Capital | Canberra |
| Languages | English, and many indigenous languages |
| Population | 24,800,000 |
The Commonwealth of Australia is a federal constitutional monarchy in the southern Pacific and one of the wealthiest countries in the world by per capita income. Its manufacturing sector is productive by regional standards, but the economy is increasingly shaped by raw commodity exports – iron ore, coal, copper, wheat and wool – as Asian industrialisation generates demand that Australia’s mining and agricultural sectors are well positioned to supply. The resulting revenue has been substantial, and has prompted sustained debate in Canberra about industrial policy and economic diversification.
Australia’s closest trading relationships remain New Zealand and Britain, reflecting commercial ties established under the imperial trading system that have persisted into the twenty-first century. The pull of Asian markets has grown with each decade. Japan and Korea have been significant trading partners for nearly a century, and Chinese industrialisation represents the largest variable in Australian economic forecasting. Australia’s defence relationships are oriented primarily toward the Commonwealth and the US, whilst its trade is increasingly directed toward East and Southeast Asia – a divergence that shapes most significant debates in Australian foreign policy.