The Super Pit gold mine in Kalgoorlie, Australia's largest open cut mine. Australia is a wealthy country with a market economy, a relatively high GDP per capita, and a relatively low rate of poverty. In terms of average wealth, Australia ranked second in the world after Switzerland in 2013, and the nation's poverty rate increased from 10.2 per cent to 11.8 per cent, from 2000/01 to 2013. It was identified by the Credit Suisse Research Institute as the nation with the highest median wealth in the world and the second-highest average wealth per adult in 2013.