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).
Birth rate
At a time when Australia's unemployment was at a 28-year low of 5.2%, the then Treasurer Peter Costello stated there was opportunity to go lower. With a good economic outlook for Australia, Costello held the view that now was a good time to expand the population, with his famous quote that every family should have three children "one for mum, one for dad and one for the country". Australia's fertility rate reached a peak of 1.95 children per woman in 2010, a 30-year high, although still below replacement rate.