section_path: Economy/Australia
section_name: Australia
paragraph_text: Australia
  
  Australia and New Zealand are the only highly developed independent nations in the region, although the economy of Australia is by far the largest and most dominant economy in the region and one of the largest in the world. New Caledonia, Hawai ʻ i, and French Polynesia are highly developed too but are not sovereign states. Australia's per-capita GDP is higher than that of the UK, Canada, Germany, and France in terms of purchasing power parity. New Zealand is also one of the most globalised economies and depends greatly on international trade.
  
  The Australian Securities Exchange in Sydney is the largest stock exchange in Australia and in the South Pacific. In 2012, Australia was the 12th largest national economy by nominal GDP and the 19th-largest measured by PPP-adjusted GDP.
  
  Mercer Quality of Living Survey ranks Sydney tenth in the world in terms of quality of living, making it one of the most livable cities. It is classified as an Alpha World City by GaWC. Melbourne also ranked highly in the world's most liveable city list, and is a leading financial centre in the Asia–acific region.
  
  The majority of people living in Australia work in health care, retail and education sectors. Australia boasts the largest amount of manufacturing in the region, producing cars, electrical equipment, machinery and clothes.