Economic

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 ( Jan 2005)1

-4.8%(2003)3

Japan (19.7%), China (10.2%), Republic of Korea(7.7%)1

Coal, Iron ore, Crude-petroleum, Non-monetary

goal1 4,076,140 (July 2006 est.)1

0.99% (2006 est.)1

15.02 people per sq. km 2005

4% (2005)1

4% (2005)1

2.5%(2005)1

45.7%(2005)1

2.2%(2005)1

25.35912% (2004)3

3.47%(2005)

5.51%(2005)7

84%(2005)

1.4203 (2005)1

-3.84247% (2004)3

Australia(21%),United Stated(14.4%),Japan(11.33%)1

Coal, Crude petroeum, Iron ore, Non-monetary goal1

Principal Import Partner

Principal Import

Political System

Political Leader

Principal Religions

Social Indicators

Infant mortality rate(2005)

Murder rate

Population below poverty lines

United States (14.2%), China (13.3%), Japan (11.5%)

Passenger motor vehicles, Computers, Medicament (incl. Veterinary), Telecommunications equipment9

Democratic, federal-state system recognizing the British monarch as sovereign9

Prime Minister The Hon. John Winston Howard9

Catholic (26.4%), Anglican (20.5%), other Christian (20.5%), Buddhist(1.9%) 9

Total:4.69 deadths/1000 live births

Male:5.08 deaths/1000 live births

Female:4.27 deaths/1000 live births

Rate/100000 persons 4.710

NA9

Japan (20.6%), China (13.2%), United states (12.8%)11

Telecommunication equipment, Passenger motor vehicle, televisions, Computer, Household type equipment11

Parliamentary democracy11

Anglican (14.9%), Roman Catholic (12.4%), Presbyterian (10.9%)11

Total:5.76 deadths/1000 live births

Male:6.69 deaths/1000 live births

Female:4.89 deaths/1000 live births11

Overall, it can be seen that, Australia's population is larger than New Zealand. However, their population growth rate is lower than New Zealand. Interestingly, Australia's infant mortality rate is lower than New Zealand. It can indicate that Australia's living standard is better that New Zealand.

In addition, South Korea export sector