On 1 January 1901, the six colonies federated, forming the Commonwealth of Australia.
Australia has since maintained a stable liberal democratic political system that functions as a federal parliamentary constitutional monarchy comprising six states and several territories.
Colloquial names for Australia include "Oz" and "the Land Down Under" (usually shortened to just "Down Under").
Australia has the world's 13th-largest economy and ninth-highest per capita income (IMF).
Australia is a member of the United Nations, G20, Commonwealth of Nations, ANZUS, Organisation for Economic Co-operation and Development (OECD), World Trade Organization, Asia-Pacific Economic Cooperation, and the Pacific Islands Forum.
is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania and numerous smaller islands.
It is the largest country in Oceania and the world's sixth-largest country by total area.
The population of 25 million Until the early 19th century, Australia was best known as "New Holland", a name first applied by the Dutch explorer Abel Tasman in 1644 (as Nieuw-Holland) and subsequently anglicised.