Immigration was encouraged because it was vital to Australia's recovery. The government offered incentives to foreigners who wanted to settle in Australia, such as free land and free passage for former service people. This surge of immigrants increased the population to nearly 3 million people (Grabowski 48).
Exports and Growth Industries.
The years after WWII, Australia enjoyed a period of peace and prosperity. New mineral resources were discovered and helped to increase industry expansion with nearby nations (Grabowski 49).
Australia began to take a more powerful place in the global economy by developing and exporting a diverse range of goods and services. Australia's ties with Asia and the Pacific Rim have become increasingly important because they contribute financial aid.
Australia is one of the world's largest mineral processors and exporters. Australia is home to some of the world's great mining companies (Australian Advantage).
Australia's manufactured goods supply around 10% of exports. Its chief industries include mining, food processing, manufacturing of industrial and transportation equipment, chemicals, iron and steel, textiles, machinery, and motor vehicles. .
Australia has valuable mineral resources, including coal, iron, bauxite, copper, tin, lead, zinc, and uranium, but oil & gas still control the state's exports. Australia also offers a unique investment environment for minerals investors. .
Despite the success that mineral resources have brought to Australia's export industry, there is reason to believe that the mining industry's future is bleak. The level of mineral exploration is falling quickly. Some analysts are warning that some regions may not have any mining industry left in the next ten years (Highfield).
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For the first time in Australia's history, mineral deposits are being depleted faster than new ones are being discovered. The decline has caused the loss of more than half of the country's exploration jobs (Highfield).
