U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > World Forums > Australia and New Zealand
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 05-02-2009, 06:27 PM
 
Location: halifax
237 posts, read 840,557 times
Reputation: 171

Advertisements

nominal gdp is the main indicator used to assess economic size.

2008
nominal gdp $1.01 trillion
2009
nominal gdp $755 billion
2010
nominal gdp $744 billion

compare this to some of the Eurozone countries.

Greece went from being 35 % the size of Australia's to almost half.

2008 $357 billion
2009 $325 billion

Spain went from being 38 % larger to twice as big as compared to Australia.

according to the data the UK is falling behind fast as well.

UK

2008 $2.7 trillion
2009 $2 trillion

compare this to Italy

2008 2.3 trillion
2009 $2 trillion

when you consider that Italy exports about 21 % more than the UK it makes you question if Italy is more powerful than Britain.

http://www.imf.org/external/pubs/ft/...NGDPD&grp=0&a=
Rate this post positively Reply With Quote Quick reply to this message

 
Old 02-17-2010, 11:30 PM
 
Location: halifax
237 posts, read 840,557 times
Reputation: 171
Default updated information

It seems in the last quarter something pushed Australia's nominal gdp up (could have been the exchange rates or gdp growth in the last quarter).
it appears as though the recession didn't hit Australia's gdp as much as people thought it would middle of last year.

920 billion is the 2009 estimate at the close of the year. it isn't expected to reach a trillion again until 2011 but until that time it's forecasted to just edge ahead of Mexico and South Korea.

Nominal GDP is the most commonly cited indicator of economic power as it reflects the ability of nation to purchase at international prices. PPP is more suited to gauging the living standards of the local population.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 02-18-2010, 12:48 AM
 
Location: Brisbane
4,521 posts, read 6,499,499 times
Reputation: 3703
It has to be currency movements affecting it, I would assume "international prices" are measured in $US. The AUD was high in 2008, took a massive hit in late 2008/2009 and is now climbing back up again!

Anyway if the economy did shrink by 1/3rd we certainly did not experience any major problems with unemployment, housing crashes, banks going broke etc.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > World Forums > Australia and New Zealand

All times are GMT -6. The time now is 08:50 AM.

© 2005-2022, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top