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Australia's economy shrugged off the first global contraction since World War II to expand 2.7 percent last year, putting other developed countries in the shade, official figures showed on Wednesday.
The "wonder from Down Under" leaped 0.9 percent in the three months to December, its steepest rise since the pre-crisis quarter of March 2008, the government's statistics bureau said.
The annual result means Australia impressively stayed on track despite the biggest global collapse since the Great Depression, which shaved 0.8 percent off the world economy.
Australia was the only major Western economy to avoid recession in the downturn, thanks to 70 billion dollars (63.2 billion US) in stimulus spending and ongoing Asian demand for its raw materials, particularly from China.
Treasurer Wayne Swan said Australia's growth was "the envy of the developed world".
"This is an exceptional outcome in what has been a devastating year for the global economy," Swan said.
"During the worst global financial and economic crisis in 75 years, when most advanced economies contracted, the Australian economy not only continued to grow, but grew solidly."
Swan voiced renewed confidence that Australia is set for prosperous economic times, after central bank officials tipped years, if not decades, of growth as Asian giants China and India urbanise and industrialise.
"The fact that our economy grew in every single quarter of 2009, while other advanced economies contracted sharply, is a tribute to all those Australians who got in behind the stimulus," he told reporters.
"These are very pleasing numbers today. They give us cause for optimism that we can have sustainable growth well into the future if we keep getting all the big calls right."
The annual result beat analyst forecasts of 2.3 percent, while the quarterly figure follows the September quarter's adjusted 0.3 percent growth and 0.6 percent growth in the three months to June.
The figures smash results from other advanced economies, which were largely in the red last year with the United States shrinking 2.4 percent and Germany and Japan receding five percent.
On Tuesday, the central bank announced its fourth interest rate rise since October, by 25 basis points to 4.0 percent, to curb inflation as growth and unemployment return to normal.
"It's quite remarkable to see that the Australian economy is getting close to three percent growth, given the depth of the financial crisis and the state of developed nations across the globe," said CommSec economist Savanth Sebastian.
"There are some very good signs that the economy is rebounding and rebounding well," he added.
