Compare And Contrast The Economies Of Australia And Brazil
TBS 905 Economic Analysis for Business
Major Assignment
Describe, Compare and Contrast the
Economies of Australia and Brazil
Prepared by: AZEEZ YUSUFF
Student Number: 3947166
Word Count: 2985
08 October 2013
Executive Summary
The purpose of this report is to describe, compare and contrast the Economies of Brazil and
Australia. It is based on a variety of economic indicators spanning the five year period 2008 to
2012 and utilizes the underlying data to analyze, compare and contrast the two economies.
Furthermore, the comparison of the two economies is to enable us determine which of the two countries has optimally utilized its scarce resources, improve its productivity and ultimately ensured its citizens enjoy a better standard and quality …show more content…
The Australian economy is dominated by the service sector and enjoys a strong gross saving and investment level. The high Australian dollar however, has hurt the manufacturing sector including driving local consumer’s demand for cheap imported goods and services at the expense of locally manufactured goods. Further, Australia with a low population of 22million will depend a lot on foreign capital to significantly unlock its capital intensive reserves of coal, iron, copper, gold, natural gas among others, in order to optimally utilize these resources to drive the economy. Recent major investments like the US$40 billion
Gorgon Liquefied Natural Gas project and the AUD$44 billion national broadband project will further expand the resources sector and service sector of Australia which are significant components and drivers of its economic growth. Local investment has also recently increased due to the low interest rate on housing.
Brazil has one of the largest economies in the world, with a population of about 200million people. With its large and developed agricultural, service, manufacturing and mining sector, the country is gradually expanding its presence to the world (CIA world fact book, 2013). Like …show more content…
The growth of Brazil’s economy has been
experiencing very highs and lows over the intervening period characterized by periods of high inflation, disproportionate distribution of wealth, poor infrastructure and low gross national savings to drive required investments. The Economy of Brazil is dominated by the service sector and it is steadily improving on its trade deficits level. Brazil will be hosting the World cup in
2014 and the Olympics in 2016, expectation is high that the country will utilize the opportunity of hosting such global games to massively invest in necessary transport, hotel, and technology infrastructures, increase tourism and serve as a general boost to the economy.
While it is clear that the two economies have many similarities and differences, the report concludes that the Australian economy is more productive, more stable and will continue to grow steadily. As such, it is suggested that the Australians enjoy a better standard of living than the Brazilians.
TABLE OF CONTENTS
Executive Summary
i
Table of Contents
1.
Major Assignment
Describe, Compare and Contrast the
Economies of Australia and Brazil
Prepared by: AZEEZ YUSUFF
Student Number: 3947166
Word Count: 2985
08 October 2013
Executive Summary
The purpose of this report is to describe, compare and contrast the Economies of Brazil and
Australia. It is based on a variety of economic indicators spanning the five year period 2008 to
2012 and utilizes the underlying data to analyze, compare and contrast the two economies.
Furthermore, the comparison of the two economies is to enable us determine which of the two countries has optimally utilized its scarce resources, improve its productivity and ultimately ensured its citizens enjoy a better standard and quality …show more content…
The Australian economy is dominated by the service sector and enjoys a strong gross saving and investment level. The high Australian dollar however, has hurt the manufacturing sector including driving local consumer’s demand for cheap imported goods and services at the expense of locally manufactured goods. Further, Australia with a low population of 22million will depend a lot on foreign capital to significantly unlock its capital intensive reserves of coal, iron, copper, gold, natural gas among others, in order to optimally utilize these resources to drive the economy. Recent major investments like the US$40 billion
Gorgon Liquefied Natural Gas project and the AUD$44 billion national broadband project will further expand the resources sector and service sector of Australia which are significant components and drivers of its economic growth. Local investment has also recently increased due to the low interest rate on housing.
Brazil has one of the largest economies in the world, with a population of about 200million people. With its large and developed agricultural, service, manufacturing and mining sector, the country is gradually expanding its presence to the world (CIA world fact book, 2013). Like …show more content…
The growth of Brazil’s economy has been
experiencing very highs and lows over the intervening period characterized by periods of high inflation, disproportionate distribution of wealth, poor infrastructure and low gross national savings to drive required investments. The Economy of Brazil is dominated by the service sector and it is steadily improving on its trade deficits level. Brazil will be hosting the World cup in
2014 and the Olympics in 2016, expectation is high that the country will utilize the opportunity of hosting such global games to massively invest in necessary transport, hotel, and technology infrastructures, increase tourism and serve as a general boost to the economy.
While it is clear that the two economies have many similarities and differences, the report concludes that the Australian economy is more productive, more stable and will continue to grow steadily. As such, it is suggested that the Australians enjoy a better standard of living than the Brazilians.
TABLE OF CONTENTS
Executive Summary
i
Table of Contents
1.