Comprised of 14 countries, Oceania is the smallest terrestrial continent, occupying an area of approximately 8.5 million square kilometers. The continental economy presents a great disparity, a fact that can be analyzed through the difference in the Gross Domestic Product (GDP) of the countries in this region.
Australia and New Zealand have a high degree of socioeconomic development, being among the richest countries and with the best quality of life on the planet. These two nations have strong industrialization and highly mechanized agriculture. The other countries have an economy with little expressiveness, based on agriculture. Tourism is developed in practically every country.
The diversified Australian industrial park drives the national economy, with emphasis on the following segments: chemicals, metallurgy, steel, petrochemicals, machinery and equipment, etc. Mining is another important sector for raising financial resources. This activity is carried out through the extraction of bauxite, gold, iron, lead and manganese.
New Zealand, the second richest nation on the continent, has a high level of industrialization (food, processing, metallurgy, steel, petrochemicals, etc.). It is also home to large reserves of oil, coal and natural gas. Another highlight of the national economy are the herds of sheep, goats, cattle and pigs, boosting the production of wool, meat and dairy products.
The other twelve nations (Fiji, Marshall Islands, Solomon Islands, Kiribati, Micronesia, Nauru, Palau, Papua New Guinea, Samoa, Tonga, Tuvalu and Vanuatu), unlike Australia and New Zealand, have a low degree of industrialization and little economy. developed. The main activities for raising income are tourism, agriculture, with plantations of subsistence and export monocultures, in particular coconut, cocoa, coffee, cassava and banana, in addition to fishing.
By Wagner de Cerqueira and Francisco
Graduated in Geography
Brazil School Team
Oceania - continents - geography - Brazil School
Source: Brazil School - https://brasilescola.uol.com.br/geografia/aspectos-economicos-oceania.htm