Economy of Australia
The economy of Australia is a large mixed-market economy, with a GDP of A$1.69 trillion as of 2017. In 2018 Australia overtook Switzerland, and became the country with the largest median wealth per adult. Australia's total wealth was AUD$8.9 trillion as of June 2016. In 2016, Australia was the 14th-largest national economy by nominal GDP, 20th-largest by PPP-adjusted GDP, and was the 25th-largest goods exporter and 20th-largest goods importer. Australia took the record for the longest run of uninterrupted GDP growth in the developed world with the March 2017 financial quarter, the 103rd quarter and marked 26 years since the country had a technical recession (two consecutive quarters of negative growth).
Australian Capital Territory
The economic activity of the Australian Capital Territory is heavily concentrated around Canberra. A stable housing market, steady employment and rapid population growth in the 21st century have led to economic prosperity and in 2011 CommSec ranked the ACT as the second best performing economic region in the country. This trend continued into 2016, when the territory was ranked the third best performing out of all of Australia's states and territories. There is a higher proportion of young adults in the region compared with other Australian states or territories. Approximately one-fifth of ACT residents were born outside Australia, mainly in the United Kingdom. Almost one-fifth speak a language other than English at home, the most common being Chinese.