Word: billioned
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Dates: during 1950-1959
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...Industrial production has tripled to $10 billion, with a 162% increase in steel (to 3.2 million tons), 133⅓% jump in electricity, a 100% jump in cement. In washing machines alone, Australia's appliance makers have gone from 6,500 units in 1948 to 181,400 last year...
...Exports are up to $1.9 billion annually, with a 220% increase in minerals, themselves a $1 billion industry. At the same time, imports have been held to $1.8 billion as Australia supplies more of its own needs...
Immigration to crack production bottlenecks and bring new blood to the isolated country was another big factor. A third was a huge public works program that has spent $1.2 billion to standardize the nation's chaotic five-gauge railroad system, build new airports, roads, telephone and telegraph lines, and heavy utilities needed as a foundation for industry. The government's giant $1 billion hydroelectric project in the Snowy Mountains south of Canberra is already producing power, will ultimately generate 3,000,000 kw. and provide 1,800,000 acre feet of irrigation water for the states of Victoria...
...annually, some 85% of it from Britain and the U.S. Britain is still Australia's biggest partner, but the U.S. is coming up fast. In 1948 the U.S. had only $115 million invested in Australia; today the kitty amounts to $670 million, and the forecast is for $1 billion in U.S. capital by the end of 1960. All told, 880 U.S. firms now do business in Australia. How well they do is evident from the statistics: a ten-year profit of $477 million, or better than 400% realized on the original 1948 investment...
...Billion...