Australia is a prosperous, politically and economically stable, industrialized nation. Australia is the world's 12th-largest economy, with nominal GDP of US$1.5 trillion and one of the highest levels of per capita GDP in the world. It has a large services sector but is also a major exporter of resources, energy, and food. The Australian economy has grown for 22 consecutive years. Net debt is expected to peak at 12 percent of GDP in 2014-15. The economy grew by 2.75 percent in 2011 and 2012 but is now slowing. The unemployment rate is currently 5.8 percent.