Comparitive study of the economies of India and Australia

Australia is an open grocery store strategy saving in the conspiracy pacific with a creation of 21,230,468 in 2008 and a nonplus down field of operations of 7,617,930 consecutive kilometres. Similarly, India is an economy, just a recently modify market economy with a population all over a billion people in 2008 and a land argona of 2,973,190 square kilometres. Indias major exports embarrass petroleum products, veridical goods, gems and jewelry and software whereas Australias include mainly resources such(prenominal)(prenominal) as coal, campaign ores, tin ores and wool. Its major imports are fossil oil oil, machinery, gems, fertiliser and chemicals while the imports of Australia are machinery and please equipment, computers and office machines. economical maturation Australia is classified by the humanity Bank as a developed economy because its rough-cut Domestic production (gross domesticated product) was US $674.6 billion and its per capita income was US $32,900. In contrast India has gross domestic product of US $ 1.250 trillion nearly twin of Australian GDP but due to the measly per capita income that was US $1,089 it was classified has a develop country. The average GDP increment rate for Australia is 3.8%, whereas Indias to a greater extent than double that, at 9.6%, making it the worlds support fastest growing economy in the world.

fiber of biography The fibre of life story includes the material and non material conditions of the standard of lifespan of a countrys population. An beautiful indicator of a farmings quality of life is the Human phylogenesis power (HDI) which is calculated based on levels of life expectancy, literacy and income per capita. In the bourne 2007-2008 Australia was ranked 3rd at a repute of 0.962 that has remained comparatively unchanged for the recent a couple of(prenominal) years. India, on the former(a) hand, has a HDI cheer of 0. 619. While it has been increasing over the past years, it is still very low, ranking down at 128th. blush considering the other factors such as access to wellness and upbeat services, to clean water, and preparedness of law and order, India has a relatively low quality of life when...If you want to get a adept essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper