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).
Southern Hemisphere
Among the most developed nations in the Southern Hemisphere are Australia, with a nominal GDP per capita of US$51,850 and a Human Development Index of 0.939, the second highest in the world as of 2016. New Zealand is also well developed, with a nominal GDP per capita of US$38,385 and a Human Development Index of 0.915, putting it at #13 in the world in 2016. The least developed nations in the Southern Hemisphere cluster in Africa and Oceania, with Burundi and Mozambique at the lowest ends of the Human Development Index, at 0.404 (#184 in the world) and 0.418 (#181 in the world) respectively. The nominal GDP per capitas of these two countries don't go above US$550 per capita, a tiny fraction of the incomes enjoyed by Australians and New Zealanders.