 Australia is a wealthy country ; it generates its income from various sources including mining @-@ related exports , telecommunications , banking and manufacturing . It has a market economy , a relatively high GDP per capita , and a relatively low rate of poverty . In terms of average wealth , Australia ranked second in the world after Switzerland in 2013 , although the nation 's poverty rate increased from 10 @.@ 2 % to 11 @.@ 8 % , from 2000 / 01 to 2013 . It was identified by the Credit Suisse Research Institute as the nation with the highest median wealth in the world and the second @-@ highest average wealth per adult in 2013 . 
