Western Australia and the Australian Capital Territory, the country's largest state and smallest territory, respectively, do not seem to share all that much in common on the surface level, but experts have now revealed that these are the two best performing economies of the nation.

While one has a large supply of mineral reserves and has made it the driving force of Australia's economy, the other lies neatly between Sydney and Melbourne, and has about 50% of its land inhabited by nature parks and reserves.

So, while comparisons between these are stark, CommSec has stressed that both WA and ACT are equally robust when it comes to economic performance. According to Chief Economist of the group, Craig James, based on 8 key factors, both the areas "are Australia's two best performing economies".

"Western Australia is the fastest growing economy, buoyed by mining-related construction and investment. And solid growth in residential construction and property sales has propelled the ACT to the top of the economic rankings", said Mr. James.

Out of the 8 indicators, WA topped three (economic growth, business investment and construction work), and ACT was top ranked in 2 (housing finance and dwelling starts).