What is the secret of Australia, the country that is 25 years without suffering a recession

We have to go back too far to find a crisis stage in the Australian economy.

In 1990, the Argentine national team, led by Maradona, was football champion.

The few mobile phones were in operation the size of a brick construction. And the Soviet Union was in its final process of disintegration.

Since 1991, and for 25 consecutive years, the Australian economy is only growing.

The latest figures from June show that the economy is growing at an annual rate of 3.3%.

Only missing three quarters before Australia reached the record for longest continuous economic growth in the modern age - which currently belongs to the Netherlands 26 years.

diversified economy

The good performance experienced by the Australian economy has even more merit due to the collapse of international prices of raw materials - an ominous trend for a nation facing mining.

The explanation can be found, in part, on good luck, according to the correspondent of BBC Asian economy, Karishma Vaswani.

"The mines were closed and jobs were lost in this sector. But do not forget that Australia is a highly diversified economy," he said.

"Tourism, finance, technology and education are key components of the economy of Australia and benefited from a weaker Australian currency," according to correspondent.

There have also been profit in the agricultural sector and the same mining industry got a relief in the recent devaluation of the Australian dollar, which made the country's goods become cheaper abroad.

And technological advances have made it more competitive.

High standard of living

But regardless of the recent development, the fact is that Australia is more than a generation without knowing a real economic crisis.

The country has abundant natural resources and its territory has continental dimensions.

Has mineral resources, but also benefited from migration flows leading professionals and entrepreneurs from around the world to live in the country.

Australia attracts new residents, in part with the promise of a good quality of life amidst beaches, nature and a pleasant climate - as well as cosmopolitan cities like Sydney and Melbourne.

The unemployment is a low level of about 5%.

And there are many Australians who have never experienced an economic crisis.

But analysts warn that with an external demand that sometimes falters, a high level of indebtedness of its inhabitants and other factors that reduce consumption, one can not rule out a slowdown in growth.

So Australia can not neglect the 9 months remaining to reach the Netherlands and get the gold medal in world economic growth.