comparing economies between Australia and Nepal
SIMILARITIES AND DIFFERENCES OF THE AUSTRALIAN ECONOMY AND THE NEPALESE ECONOMY
To compare the economies of two different countries, in this case Australia and Nepal one must look at more than just how much money each country has. There are 5 important factors for comparing; economic growth and quality of life, employment and unemployment rates, distribution of income, environmental sustainability, and the role of the government.
Economic growth can be measured by 3 different figures; gross domestic product (GDP) per capita, GDP purchasing power parity (GDPPPP), and real GDP. In Australia the GDP per capita, GDPPPP, and real GDP respectively are $43,000 which is 19th in the world, $998.3 billion which is 18th in the world, and 2.5 % which is 127th in the world. Nepal’s GDP per capita is $1,500 which is 205th in the world, its GDPPPP is $42.06 billion which is 104 compared to other countries in the world, and Nepal’s real GDP is 3.6 % ranked as 89th in the world. These statistics prove that even though Nepal is a lot poorer than Australia, it is continuously developing and its economy is growing faster than Australia which is good for its development.
Quality of life is measured by life expectancy, adult literacy, education, and social conditions. In Australia the life expectancy at birth is 82.07 years with males at 79.63 years and females at 84.64 years, coming 10th in the world and adult literacy (age 15 and over that can read and write) is 99 % of the population with both males and females at 99 %. Whereas in Nepal the life expectancy at birth is 67.19 years with males at 65.88 years and females at 68.56 years, coming 165th in the world and adult literacy is 57.4 % of the population with 71.1 % of the male population being literate and only 46.7 % of the female population. Over 30 % of Nepalese live on less than US$14 per person per month, most rural households have little or no access to primary health care, education, safe drinking water, sanitation,
To compare the economies of two different countries, in this case Australia and Nepal one must look at more than just how much money each country has. There are 5 important factors for comparing; economic growth and quality of life, employment and unemployment rates, distribution of income, environmental sustainability, and the role of the government.
Economic growth can be measured by 3 different figures; gross domestic product (GDP) per capita, GDP purchasing power parity (GDPPPP), and real GDP. In Australia the GDP per capita, GDPPPP, and real GDP respectively are $43,000 which is 19th in the world, $998.3 billion which is 18th in the world, and 2.5 % which is 127th in the world. Nepal’s GDP per capita is $1,500 which is 205th in the world, its GDPPPP is $42.06 billion which is 104 compared to other countries in the world, and Nepal’s real GDP is 3.6 % ranked as 89th in the world. These statistics prove that even though Nepal is a lot poorer than Australia, it is continuously developing and its economy is growing faster than Australia which is good for its development.
Quality of life is measured by life expectancy, adult literacy, education, and social conditions. In Australia the life expectancy at birth is 82.07 years with males at 79.63 years and females at 84.64 years, coming 10th in the world and adult literacy (age 15 and over that can read and write) is 99 % of the population with both males and females at 99 %. Whereas in Nepal the life expectancy at birth is 67.19 years with males at 65.88 years and females at 68.56 years, coming 165th in the world and adult literacy is 57.4 % of the population with 71.1 % of the male population being literate and only 46.7 % of the female population. Over 30 % of Nepalese live on less than US$14 per person per month, most rural households have little or no access to primary health care, education, safe drinking water, sanitation,