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Economy Stats: compare key data on Australia & Wallis and Futuna

Definitions

  • Budget > Expenditures: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues > Per capita: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Debt > Government debt > Public debt, share of GDP: Public debt as % of GDP (CIA).

    No date was available from the Wikipedia article, so we used the date of retrieval.

  • Overview: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Exports > Commodities: This entry provides a listing of the highest-valued exported products; it sometimes includes the percent of total dollar value.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller.
  • Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • Public debt: This entry records the cumulatiive total of all government borrowings less repayments that are denominated in a country's home currency. Public debt should not be confused with external debt, which reflects the foreign currency liabilities of both the private and public sector and must be financed out of foreign exchange earnings.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
  • Debt > External: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services.
  • Debt > External > Per capita: Total public and private debt owed to non-residents repayable in foreign currency, goods, or services. Per capita figures expressed per 1 population.
  • Industries: A rank ordering of industries starting with the largest by value of annual output.
  • Labor force: This entry contains the total labor force figure.
  • Currency: The national medium of exchange and its basic sub-unit.
  • GDP > Purchasing power parity > Per capita: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per capita figures expressed per 1 population.
  • Exchange rates: The official value of a country's monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat.
  • Trade > Exports to US: in US dollars. Jan 2003 - March 2003
  • Labor force > By occupation > Agriculture: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
    Additional details:
    • Gibraltar: negligible (2013)
  • Labor force > By occupation > Services: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
  • Trade > Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • GDP > CIA Factbook > Per capita: Per capita figures expressed per 1 population.
  • GDP > Per $ GDP: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Per $ GDP figures expressed per 1 $ gross domestic product.
  • Trade > Exports: The total US dollar amount of exports on an f.o.b. (free on board) basis.
  • Imports > Commodities: This entry provides a listing of the highest-valued imported products; it sometimes includes the percent of total dollar value.
  • Labor force per thousand people: This entry contains the total labor force figure. Figures expressed per thousand people for the same year.
  • Budget > Expenditures > Per capita: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Labor force > By occupation > Industry: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
  • Trade balance with US: In US dollars. Jan 2003 - March 2003
STAT Australia Wallis and Futuna HISTORY
Budget > Expenditures $556.10 billion
Ranked 11th. 17749761 times more than Wallis and Futuna
$31,330.00
Ranked 23th.

Budget > Revenues $504.70 billion
Ranked 10th. 16976118 times more than Wallis and Futuna
$29,730.00
Ranked 223th.

Budget > Revenues > Per capita $15,753.02 per capita
Ranked 19th. 8415 times more than Wallis and Futuna
$1.87 per capita
Ranked 24th.
Debt > Government debt > Public debt, share of GDP 29.3 CIA
Ranked 117th. 5 times more than Wallis and Futuna
5.6 CIA
Ranked 147th.
Overview The Australian economy has experienced continuous growth and features low unemployment, contained inflation, very low public debt, and a strong and stable financial system. By 2012, Australia had experienced more than 20 years of continued economic growth, averaging 3.5% a year. Demand for resources and energy from Asia and especially China has grown rapidly, creating a channel for resources investments and growth in commodity exports. The high Australian dollar has hurt the manufacturing sector, while the services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control. Australia has benefited from a dramatic surge in its terms of trade in recent years, stemming from rising global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the World Trade Organization, APEC, the G20, and other trade forums. Australia has bilateral free trade agreements (FTAs) with Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, has a regional FTA with ASEAN and New Zealand, is negotiating agreements with China, India, Indonesia, Japan, and the Republic of Korea, as well as with its Pacific neighbors and the Gulf Cooperation Council countries, and is also working on the Trans-Pacific Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam. The economy is limited to traditional subsistence agriculture, with 80% of labor force earnings from agriculture (coconuts and vegetables), livestock (mostly pigs), and fishing. About 4% of the population is employed in government. Revenues come from French Government subsidies, licensing of fishing rights to Japan and South Korea, import taxes, and remittances from expatriate workers in New Caledonia.
Exports $257.90 billion
Ranked 22nd. 5435195 times more than Wallis and Futuna
$47,450.00
Ranked 14th.
Exports > Commodities coal, iron ore, gold, meat, wool, alumina, wheat, machinery and transport equipment copra, chemicals, construction materials
Fiscal year 1 calendar year
GDP > Per capita $37,828.78 per capita
Ranked 15th. 10 times more than Wallis and Futuna
$3,778.34 per capita
Ranked 13th.
GDP > Per capita > PPP $42,000.00
Ranked 10th. 11 times more than Wallis and Futuna
$3,800.00
Ranked 7th.

GDP > Purchasing power parity $961.00 billion
Ranked 18th. 16017 times more than Wallis and Futuna
$60.00 million
Ranked 9th.

Imports $263.00 billion
Ranked 20th. 4299 times more than Wallis and Futuna
$61.17 million
Ranked 11th.
Inflation rate > Consumer prices 1.8%
Ranked 168th.
2.8%
Ranked 7th. 56% more than Australia

Public debt 32.4% of GDP
Ranked 107th. 6 times more than Wallis and Futuna
5.6% of GDP
Ranked 2nd.

Unemployment rate 5.2%
Ranked 88th.
12.2%
Ranked 10th. 2 times more than Australia

Debt > External $1.50 trillion
Ranked 12th. 407902 times more than Wallis and Futuna
$3.67 million
Ranked 16th.

Debt > External > Per capita $40,368.64 per capita
Ranked 13th. 175 times more than Wallis and Futuna
$231.11 per capita
Ranked 26th.
Industries mining, industrial and transportation equipment, food processing, chemicals, steel copra, handicrafts, fishing, lumber
Labor force 12
Ranked 115th. 4 times more than Wallis and Futuna
3
Ranked 187th.

Agriculture > Products wheat, barley, sugarcane, fruits; cattle, sheep, poultry coconuts, breadfruit, yams, taro, bananas; pigs, goats; fish
Currency Australian dollar Comptoirs Francais du Pacifique franc
GDP > Purchasing power parity > Per capita $37,828.78 per capita
Ranked 15th. 10 times more than Wallis and Futuna
$3,778.34 per capita
Ranked 13th.
Exchange rates Australian dollars (AUD) per US dollar -<br />0.97 (2012 est.)<br />0.97 (2011 est.)<br />1.09 (2010)<br />1.28 (2009)<br />1.21 (2008) Comptoirs Francais du Pacifique francs (XPF) per US dollar -<br />90.01 (February 2012)<br />87.59 (2007)
GDP > CIA Factbook $571.40 billion
Ranked 16th. 9922 times more than Wallis and Futuna
$57.59 million
Ranked 173th.

Trade > Exports to US $1.43 billion
Ranked 32nd.
0.0
Ranked 224th.
Labor force > By occupation > Agriculture 3.6%
Ranked 155th.
80%
Ranked 19th. 22 times more than Australia

Labor force > By occupation > Services 75%
Ranked 2nd. 5 times more than Wallis and Futuna
16%
Ranked 6th.
Trade > Imports $200.40 billion
Ranked 20th. 3276 times more than Wallis and Futuna
$61.17 million
Ranked 55th.

GDP > CIA Factbook > Per capita $28,752.58 per capita
Ranked 13th. 8 times more than Wallis and Futuna
$3,660.23 per capita
Ranked 106th.
GDP > Per $ GDP $37,828.78 per $1 of GDP
Ranked 15th. 10 times more than Wallis and Futuna
$3,778.34 per $1 of GDP
Ranked 13th.
Trade > Exports $210.70 billion
Ranked 20th. 4440464 times more than Wallis and Futuna
$47,450.00
Ranked 61st.

Imports > Commodities machinery and transport equipment, computers and office machines, telecommunication equipment and parts; crude oil and petroleum products chemicals, machinery, consumer goods
Labor force per thousand people 0.000539
Ranked 100th.
0.193
Ranked 83th. 359 times more than Australia

Budget > Expenditures > Per capita $15,454.50 per capita
Ranked 18th. 7833 times more than Wallis and Futuna
$1.97 per capita
Ranked 23th.
Labor force > By occupation > Industry 21.1%
Ranked 66th. 5 times more than Wallis and Futuna
4%
Ranked 161st.

Trade balance with US $1.43 billion
Ranked 2nd. 4761 times more than Wallis and Futuna
$300,000.00
Ranked 93th.
External debt > Date of information 30 June 2006 est. 2004

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; Wikipedia: List of countries by public debt (List) (Public debt , The World Factbook , United States Central Intelligence Agency , accessed on March 21, 2013.); CIA World Factbooks 2010, 2011, 2012, 2013; All CIA World Factbooks 18 December 2003 to 18 December 2008; CIA World Factbook 2010, 2011, 2012, 2013; US Census Bureau; CIA World Factbooks 2010, 2011, 2012, 2013. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; Wikipedia: List of countries by external debt

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