Great Depression

The Great Depression of the 1930s was an economic catastrophe that severely affected most nations of the world, and Australia was not immune. In fact, Australia, with its extreme dependence on exports, particularly primary products such as wool and wheat[1], is thought to have been one of the hardest-hit countries in the Western world along with Canada and Germany.[citation needed] Unemployment reached a record high of 29% in 1932[2], (although 32% has also been quoted[3]) and gross domestic product declined by 10% between 1929 and 1931.[4] There were also incidents of civil unrest, particularly in Australia's largest city, Sydney

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