Determinants of Gross Domestic Product in Australia

Running head: ECONOMICS
Economics
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ECONOMICS
Answer 1
The below table shows the determinants of the gross domestic product consumption,
investment, government spending and net exports of Australia from the year 1987/88 to 2017/
18. The net exports are found by subtracting the total exports by the imports. The data have
been collected from the Australian Bureau of Statistics. The time series data have been
collected from number 5204. Australian system of national accounts from Table 2:
Expenditure on Gross Domestic Product.
Table 1 Expenditure on GDP
Year Consumption Investment
Government
Expenditure Net export Population
1987 505067000000.00 131591000000.00 133888000000.00 30298000000.00 16394641
1988 521896000000.00 141447000000.00 138926000000.00 31506000000.00 16687082
1989 543730000000.00 156613000000.00 143014000000.00 18886000000.00 16936723
1990 564782000000.00 158032000000.00 146803000000.00 19127000000.00 17169768
1991 573523000000.00 143051000000.00 151502000000.00 33432000000.00 17378981
1992 587235000000.00 137333000000.00 155364000000.00 40615000000.00 17557133
1993 599256000000.00 146445000000.00 159315000000.00 44195000000.00 17719090
1994 610441000000.00 154929000000.00 161047000000.00 49868000000.00 17893433
1995 635755000000.00 172010000000.00 166476000000.00 42517000000.00 18119616
1996 658707000000.00 176718000000.00 173453000000.00 51664000000.00 18330079
1997 499675000000.00 188448000000.00 176912000000.00 58253000000.00 18510004
1998 524405000000.00 206798000000.00 184085000000.00 54846000000.00 18705620
1999 554461000000.00 215979000000.00 192423000000.00 52119000000.00 18919210
2000 578069000000.00 233460000000.00 198347000000.00 54597000000.00 19141036
2001 596453000000.00 214916000000.00 201699000000.00 72697000000.00 19386461
2002 614930000000.00 234526000000.00 207904000000.00 69684000000.00 19605441
2003 639721000000.00 264000000000.00 214055000000.00 52295000000.00 19827155
2004 671957000000.00 287062000000.00 223534000000.00 33667000000.00 20046003
2005 702497000000.00 304557000000.00 230777000000.00 18610000000.00 20311543
2006 725303000000.00 329755000000.00 238004000000.00 8740000000.00 20627547
2007 764770000000.00 344659000000.00 245505000000.00 -4919000000.00 21016121
2008 802366000000.00 374858000000.00 252932000000.00 -30298000000.00 21475625
2009 806941000000.00 380571000000.00 263482000000.00 -14925000000.00 21865623
2010 833194000000.00 387223000000.00 268049000000.00 -22138000000.00 22172469
2011 866398000000.00 401162000000.00 277169000000.00 -49212000000.00 22522197

ECONOMICS
2012 892157000000.00 447442000000.00 287291000000.00 -72775000000.00 22928023
2013 907941000000.00 460882000000.00 288131000000.00 -58985000000.00 23297777
2014 930082000000.00 452765000000.00 292564000000.00 -33338000000.00 23640331
2015 951908000000.00 438441000000.00 299666000000.00 -15450000000.00 23984581
2016 978114000000.00 423372000000.00 312459000000.00 7654000000.00 24389684
2017 1001197000000.00 422428000000.00 328092000000.00 10851000000.00 24775564
2018 1029816000000.00 440890000000.00 340929000000.00 -568000000.00 25101917
(Source: Australian Bureau of Statistics, Australian Government. 2019).

ECONOMICS
However, the first part of the question states to find the determinants of the gross
domestic product in terms of per capita which means each of the determinants are divided by
the total population. When each of the values are divided by the total population, the
consumption, investment, government spending and net exports per capita are found.
Table 2: Determinants of GDP per capita
Year
Consumpti
on
Investmen
t
Governme
nt
Expenditur
e Net export
1987
30806.8
3
8026.46
4
8166.57
1
1848.04
3
1988
31275.4
5
8476.43
7
8325.36
2
1888.04
7
1989
32103.6
1
9246.94
8
8444.01
8
1115.09
2
1990
32893.9
8
9204.08
5
8550.08
6
1113.99
3
1991
33000.9
6
8231.26
5
8717.54
2
1923.70
3
1992
33447.0
9
7822.06
3
8849.05
3
2313.30
5
1993 33819.8
8264.81
5 8991.15
2494.20
3
1994
34115.3
7
8658.42
8
9000.34
1
2786.94
4
1995
35086.5
6
9493.02
7
9187.61
2
2346.46
3
1996
35935.8
5
9640.87
5
9462.75
2
2818.53
7
1997
26994.8
6
10180.8
7
9557.64
2
3147.10
9
1998
28034.6
2
11055.3
9 9841.16 2932.06
1999
29306.7
7
11415.8
6
10170.7
7
2754.81
9
2000
30200.5
1
12196.8
3 10362.4
2852.35
3
2001
30766.4
7
11085.8
8
10404.1
2
3749.88
5
2002
31365.2
7
11962.2
9 10604.4
3554.31
9
2003
32264.8
9
13315.0
7
10796.0
5
2637.54
4
2004
33520.7
5
14320.1
6
11151.0
5
1679.48
7