How do natural resources affect australia`s economy

Most of the land in the outback is barren and not good for farming, however, there is an abundance of natural resources found there. The natural resources found in Australia include sold, silver, uranium, coal, copper, and iron ore. Australia is a huge exporter of coal and iron ore. Australia mines more bauxite, titanium, and diamonds than any other country. Australia also leads in reserves of lead, cadmium, or nickel. Nearly $400 billion worth of metals, minerals, and fuels have been exported in the past twenty years. Natural resources make up 1/3 of Australia’s economy. Natural resources are also important to trade in Australia. A gold rush in the mid nineteenth century brought hundreds of thousands of people from England, Ireland, Germany, and China to Australia in hopes of finding wealth. The United States and China are very interested in the Uranium reserves in Australia for nuclear fuel.

Natural resources are important exports for Australia.Explanation:

Australia is a country plentiful in natural resources, much of which hasn't even been drawn yet. Australian exports are growing nowadays; certainly, the greatest level of exports was approached in February 2014, at a price of $23.8 billion U.S. dollars. The natural resources of Australia cover various famous coal, iron ore, and gold, though further oil, gas, rare earth, copper, tin, bauxite, silver, uranium, diamonds, and different metals.

Metals like iron-ore and gold equal 28% of Australian exports, although coal isn't very sluggish at 18%. A full 60% of the coal drilled is transported, producing capital to the Australian marketplace and presenting them the biggest exporter of coal in the globe.