Executive Summary
This report will illustrate economic performance compare between Australia and New Zealand by firstly compare their snapshot economic data, and then will identify the comparative historical profile on their economic development. Furthermore, this report will compare an average experience of New Zealand with Australia and "major seven" OECD countries, which are USA, Japan, Germany, France, Italy, UK, Canada refer to New Zealand's political-economic history over 4 decades . In addition, with the aid of charts, the report will correlate between Australia's economic variable, which are following areas inflation, real GDP growth, unemployment rate, employment growth and labour productivity growth, and New Zealand and Major seven OECD. Finally, this report will evaluate to illustrate the view relating in New Zealand's experiment with individual contracts.
Part A A comparative snapshot of the Australia and New Zealand economies
Data Australia New Zealand
Population
Population grow rate
Population density
Annual inflation rate
Unemployment rate
GDP growth rate
Export as a percentage of GDP
Current account balance as a percentage of GDP
Saving rate as a percentage of GDP
Official interest rate
Commercial interest rate
Urbanization rate
Exchange rate against the $US
Percentage change in local currency cost of the $US
Principal Export Partner
Principal Export
20.2 million (2004)
0.87 % (2005 est)1
2.6 people/Sq.Km (2003)
2.7 % (2005 est)1
5.1 % (2005 est)1
2.6 % (2005 est)1
19.3 % (2005 est)1
-5.6 % (2005 est)1
18.598 %(2003)
5.5%(2005)
7.24 %(2005)4
92%(2005)
0.7666 ( ...