Economy Stats: compare key data on Cocos (Keeling) Islands & India

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STAT	Cocos (Keeling) Islands	India	HISTORY
Agriculture > Products	vegetables, bananas, pawpaws, coconuts	rice, wheat, oilseed, cotton, jute, tea, sugarcane, lentils, onions, potatoes; dairy products, sheep, goats, poultry; fish
Currency	Australian dollar	Indian rupee
Overview	Coconuts, grown throughout the islands, are the sole cash crop. Small local gardens and fishing contribute to the food supply, but additional food and most other necessities must be imported from Australia. There is a small tourist industry.	India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization measures, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and have served to accelerate the country's growth, which averaged under 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for nearly two-thirds of India's output, with less than one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services, business outsourcing services, and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth began slowing in 2011 because of a slowdown in government spending and a decline in investment, caused by investor pessimism about the government's commitment to further economic reforms and about the global situation. High international crude prices have exacerbated the government's fuel subsidy expenditures, contributing to a higher fiscal deficit and a worsening current account deficit. In late 2012, the Indian Government announced additional reforms and deficit reduction measures to reverse India's slowdown, including allowing higher levels of foreign participation in direct investment in the economy. The outlook for India's medium-term growth is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has yet to fully address, including poverty, corruption, violence and discrimination against women and girls, an inefficient power generation and distribution system, ineffective enforcement of intellectual property rights, decades-long civil litigation dockets, inadequate transport and agricultural infrastructure, limited non-agricultural employment opportunities, inadequate availability of quality basic and higher education, and accommodating rural-to-urban migration.
Exchange rates	Australian dollars (AUD) per US dollar -<br />0.97 (2012)<br />0.97 (2011)<br />1.09 (2010)<br />1.28 (2009)<br />1.21 (2008)	Indian rupees (INR) per US dollar -<br />53.44 (2012 est.)<br />46.67 (2011 est.)<br />45.73 (2010 est.)<br />48.41 (2009)<br />43.32 (2008)
Exports > Commodities	copra	petroleum products, precious stones, machinery, iron and steel, chemicals, vehicles, apparel
Fiscal year	1	1
GDP > Real growth rate	1% Ranked 3rd.	3.2% Ranked 96th. 3 times more than Cocos (Keeling) Islands
Imports > Commodities	foodstuffs	crude oil, precious stones, machinery, fertilizer, iron and steel, chemicals
Industries	copra products, tourism	textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, pharmaceuticals
Trade > Exports to US	$100,000.00 Ranked 208th.	$3.23 billion Ranked 18th. 32332 times more than Cocos (Keeling) Islands
Trade balance with US	0.0 Ranked 103th.	$-2,073,000,000.00 Ranked 209th.
Unemployment rate	60% Ranked 1st. 7 times more than India	8.5% Ranked 46th.

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