Australia's future GDP not looking too good
Apr 6th 2005, 8:09 am
#1
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Joined: Oct 2004
Location: Berkshire
Posts: 360
Australia's future GDP not looking too good
I've already posted this on another thread, but thought it worth emphasising by giving it a thread of its own. Thanks to NKSK for bringing my attention to it.
Anyhow, Deutsche Bank has produced a research paper forecasting growth in GDP over the next 15 years. There's an article from the Times here:
http://business.timesonline.co.uk/ar...555466,00.html
and here's the full article:
http://www.dbresearch.com/PROD/DBR_I...0000185704.pdf
In terms of GDP growth per capita, Ireland is top on 3.8% followed by the USA, Spain, Canada, France, Norway, New Zealand (about 2%), Austria, Portugal and the UK (1.9%). Way down the table is Australia, 30th out of 32 countries on 1.3%.
Turning to GDP per head of population, the USA is top on $50k, then comes Ireland, Canada ($40k), Norway, Austria, then various other W. Euro countries and Japan. Australia is in 15th place on $30k and the UK in 19th place on about $27k.
In terms of the change between 2002 and 2020, Australia is the worst performing country of all, having dropped 8 places in the world league table. Switzerland and the Netherlands also drop 6 and 4 places respectively. Austria is the star performer, rising 7 places. Sweden, France and Italy all gain 4 or more places. The UK drops 2 places.
I reckon of the Western countries, Ireland, Canada and Austria are the places to be, along with the good old USA of course.
Gordon Brown loves comparing how well the UK is doing compared to the likes of Germany, France and Italy but if this report is to be believed it is they who will have the last laugh.
Anyhow, Deutsche Bank has produced a research paper forecasting growth in GDP over the next 15 years. There's an article from the Times here:
http://business.timesonline.co.uk/ar...555466,00.html
and here's the full article:
http://www.dbresearch.com/PROD/DBR_I...0000185704.pdf
In terms of GDP growth per capita, Ireland is top on 3.8% followed by the USA, Spain, Canada, France, Norway, New Zealand (about 2%), Austria, Portugal and the UK (1.9%). Way down the table is Australia, 30th out of 32 countries on 1.3%.
Turning to GDP per head of population, the USA is top on $50k, then comes Ireland, Canada ($40k), Norway, Austria, then various other W. Euro countries and Japan. Australia is in 15th place on $30k and the UK in 19th place on about $27k.
In terms of the change between 2002 and 2020, Australia is the worst performing country of all, having dropped 8 places in the world league table. Switzerland and the Netherlands also drop 6 and 4 places respectively. Austria is the star performer, rising 7 places. Sweden, France and Italy all gain 4 or more places. The UK drops 2 places.
I reckon of the Western countries, Ireland, Canada and Austria are the places to be, along with the good old USA of course.
Gordon Brown loves comparing how well the UK is doing compared to the likes of Germany, France and Italy but if this report is to be believed it is they who will have the last laugh.
Apr 6th 2005, 9:36 am
#2
Joined: Jan 2005
Posts: 315
Re: Australia's future GDP not looking too good
Originally Posted by sackofspuds
I've already posted this on another thread, but thought it worth emphasising by giving it a thread of its own. Thanks to NKSK for bringing my attention to it.
Anyhow, Deutsche Bank has produced a research paper forecasting growth in GDP over the next 15 years. There's an article from the Times here:
http://business.timesonline.co.uk/ar...555466,00.html
and here's the full article:
http://www.dbresearch.com/PROD/DBR_I...0000185704.pdf
In terms of GDP growth per capita, Ireland is top on 3.8% followed by the USA, Spain, Canada, France, Norway, New Zealand (about 2%), Austria, Portugal and the UK (1.9%). Way down the table is Australia, 30th out of 32 countries on 1.3%.
Turning to GDP per head of population, the USA is top on $50k, then comes Ireland, Canada ($40k), Norway, Austria, then various other W. Euro countries and Japan. Australia is in 15th place on $30k and the UK in 19th place on about $27k.
In terms of the change between 2002 and 2020, Australia is the worst performing country of all, having dropped 8 places in the world league table. Switzerland and the Netherlands also drop 6 and 4 places respectively. Austria is the star performer, rising 7 places. Sweden, France and Italy all gain 4 or more places. The UK drops 2 places.
I reckon of the Western countries, Ireland, Canada and Austria are the places to be, along with the good old USA of course.
Gordon Brown loves comparing how well the UK is doing compared to the likes of Germany, France and Italy but if this report is to be believed it is they who will have the last laugh.
Anyhow, Deutsche Bank has produced a research paper forecasting growth in GDP over the next 15 years. There's an article from the Times here:
http://business.timesonline.co.uk/ar...555466,00.html
and here's the full article:
http://www.dbresearch.com/PROD/DBR_I...0000185704.pdf
In terms of GDP growth per capita, Ireland is top on 3.8% followed by the USA, Spain, Canada, France, Norway, New Zealand (about 2%), Austria, Portugal and the UK (1.9%). Way down the table is Australia, 30th out of 32 countries on 1.3%.
Turning to GDP per head of population, the USA is top on $50k, then comes Ireland, Canada ($40k), Norway, Austria, then various other W. Euro countries and Japan. Australia is in 15th place on $30k and the UK in 19th place on about $27k.
In terms of the change between 2002 and 2020, Australia is the worst performing country of all, having dropped 8 places in the world league table. Switzerland and the Netherlands also drop 6 and 4 places respectively. Austria is the star performer, rising 7 places. Sweden, France and Italy all gain 4 or more places. The UK drops 2 places.
I reckon of the Western countries, Ireland, Canada and Austria are the places to be, along with the good old USA of course.
Gordon Brown loves comparing how well the UK is doing compared to the likes of Germany, France and Italy but if this report is to be believed it is they who will have the last laugh.
Doesn't this suggest - if the rate of growth is lower for Australia than the UK - that the current GDP per capita differential (between the UK and Australia) is much larger than the $3000 predicted by 2020?
