Australian and nea zeland economies momin
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Australian and nea zeland economies momin

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Australian and nea zeland economies momin Australian and nea zeland economies momin Presentation Transcript

  • Things that I will discuss;  National incomes of both countries  Employment  Rate of inflation in the two countries  Standards of living and the quality of life
  • National income  National income is the total value a country’s final output of all new goods and services produced in one year. How national income is measured  The income method, which adds up all incomes received by the factors of production generated in the economy during a year. This includes wages from employment and self- employment, profits to firms, interest to lenders of capital and rents to owners of land.
  • How national income is measured  The output method, which is the combined value of the new and final output produced in all sectors of the economy, including manufacturing, financial services, transport, leisure and agriculture.  The expenditure method, which adds up all spending in the economy by households and firms on new and final goods and services by households and firms.
  • Much of the economic growth in Australia is attributed to areas of the country where mining- and resource- based industries and services are mostly located. Western Australia and the Northern Territory are the only states that have economic growth. During 2012 and 2013 Austral Capital Territory, Queensland, Tasmania, South Australia, New South Wales and Victoria have had recessions. The Australian economy is characterized as a "two-speed economy". From June 2012 to March 2013 Victoria has had a recession. In 2012 the Victorian state government cut 10% of all jobs in the public service
  • i. The economy of Australia is one of the largest capitalist economies in the world with a GDP of US$1.57 trillion. Australia's total wealth is 6.4 trillion dollars. In 2011, it was the 13th largest national economy by nominal GDP and the 17th-largest importer and exporter of goods. ii. The Australian economy is dominated by its service sector, comprising 68% of GDP. The mining sector represents 10% of GDP; the "mining-related economy" represents 9% of GDP – the total mining sector is 19% of GDP. Economic growth is largely dependent on the mining sector and agricultural sector with the products to be exported mainly to the East Asian market. Its GDP is 1.7percent of the world
  •  New Zealand has a market economy that depends greatly on international trade, mainly with Australia, the European Union, the United States, China, South Korea and Japan. It has only small manufacturing and high- tech sector, being strongly focused on tourism and primary industries such as agriculture.
  •  Free-market reforms over recent decades have removed many barriers to foreign investment, and the World Bank in 2005 praised New Zealand as being the most business-friendly country in the world, before Singapore  The gross domestic product of new Zealand is 160 billion us dollar and the economy is ranked at 60th in the world. It has been stated as the most competitive economy of the world by Wikipedia
  •  Taxation levels are not as much as those in Australia and government spending on merit and public goods is about 5% lower  So in a nutshell the income levels of the Australian economy are much higher with more gvt spending in every sector
  • NEW ZEALAND UNEMPLOYMENT RATE  Unemployment Rate in New Zealand increased to 6.40 percent in the second quarter of 2013 from 6.20 percent in the first quarter of 2013. Unemployment Rate in New Zealand is reported by the Statistics New Zealand. New Zealand Unemployment Rate averaged 6.29 Percent from 1985 until 2013, reaching an all time high of 11.20 Percent in September of 1991 and a record low of 3.50 Percent in December of 2007
  • NEW ZEALAND UNEMPLOYMENT RATE  In New Zealand, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page contains - New Zealand Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2013-09-05  In a nutshell unemployment rates in new Zealand are higher than those in Australia , which indicates better management and provision of better opportunities for the labor force with higher incentives Australian govt
  • NEW ZEALAND UNEMPLOYMENT RATE  In a nutshell unemployment rates in New Zealand are higher than those in Australia , which indicates better management and provision of better opportunities for the labor force with higher incentives Australian govt
  • NEW ZEALAND UNEMPLOYMENT RATE  Unemployment Rate in New Zealand increased to 6.40 percent in the second quarter of 2013 from 6.20 percent in the first quarter of 2013. Unemployment Rate in New Zealand is reported by the Statistics New Zealand. New Zealand Unemployment Rate averaged 6.29 Percent from 1985 until 2013, reaching an all time high of 11.20 Percent in September of 1991 and a record low of 3.50 Percent in December of 2007
  •  New Zealand Unemployment Rate averaged 6.29 Percent from 1985 until 2013, reaching an all time high of 11.20 Percent in September of 1991 and a record low of 3.50 Percent in December of 2007
  •  The standard of living in Australia is comparatively higher than the rest of the world. Though there is still a disparity among the citizens of Australia regarding living standards. Australia is also home to a number of Aboriginals who have been for over the years marginalized by the European settlers. This marginalization has led to a huge difference between the living standards of the Europeans and the indigenous tribes.
  •  There is also a significant disparity in the living standards of the Australian city dwellers and the growth of the economy is about 3.3 % per year. The Purchasing Power Parity or the PPP of Australia is one of the highest in the world. According to the figures of 2004 the PPP of Australia is 30000 us dollars
  •  The Organization for Economic Cooperation and Development organization claims that in the last 15 years the growth of standard of living has been phenomenal in Australia. Within a few years Australia has surpassed the eight countries and is just left behind United States.  The educational facilities and the health services are one of the best in this country. The World Health Organization also certifies this country for having a very low crime rate than most parts of world.  Australia has a relatively high cost of living but the per capita income is also greater than new Zealand being 44580 and32220 respectively.
  •  The Human Development Index (HDI) is a composite statistic of life expectancy, education, and income indices used to rank countries into four tiers of human development  Australia It has a very high HDI of 0.921 and is on second spot of world rankings. This means that the life expectancy, average quality of educational opportunities and gross national income is very high compared to the outer world  New Zealand New Zealand on the other hand also has a very high hdi of 0.91 and just lags behind Australia with a small margin
  •  Australia
  •  New Zealand
  •  so to be brief Australia is a much more economically strong country than new Zealand and has an impact greater than new Zealand in every field at the world stage