The Comparative Analysis of the Australian Economy Performance Over Four Years 2014-2019

Running head: RECENT PERFORMANCE OF AUSTRALIAN ECONOMY
RECENT PERFORMANCE OF AUSTRALIAN ECONOMY
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RECENT PERFORMANCE OF AUSTRALIAN ECONOMY1
Abstract
The report wanted to study how Australian economy performed in recent year, 2019. Even
the report analyzed the comparative analysis of the economic performance over four years
that is from 2014 to 2015. With the help of graphical analysis, the GDP growth, inflation rate,
jobless rate and trade pattern are studied. The outcome of the report stated that due to climatic
variation, financial problems and job crisis, the economic growth of the Australian economy
have slowed down. However, the Australian economy showed better performance in 2019
when compared to the year 2015.

RECENT PERFORMANCE OF AUSTRALIAN ECONOMY2
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Trend Analysis.......................................................................................................................3
Economic Growth based on the rate of GDP.....................................................................3
Rate of Unemployment in Australia..................................................................................4
Inflation Rate of Australia..................................................................................................5
Trade-in Australia..............................................................................................................7
Problems faced by Australia..................................................................................................7
Conclusion..................................................................................................................................8
Reference....................................................................................................................................9

RECENT PERFORMANCE OF AUSTRALIAN ECONOMY3
Introduction
Australia is a country with a mixed and massive economy. Australian Gross Domestic
Product (GDP) rate helps in studying the performance of the Australian economy. This means
that if the GDP rate is high, then the country, Australia will be in a good economic condition
(Oup.com.au 2019). The main of the report is to focus on how the economy of Australia is
performing in the recent year that is in 2019.
The report with the help of trend analysis will also focus on the performance of the
concerned country’s economic growth in the last four years that is from 2015 to 2019. With
the help of four macroeconomic indicators, the study will be conducted, which are the growth
of GDP rate, unemployment rate, trade and inflation. In the end, after the study, the report
will indicate the significant problems, which are hindering the economic condition of
Australia.
Discussion
Trend Analysis
Economic Growth based on the rate of GDP
GDP of a country is known to be a significant measure to analyze the success of a
country's economy. Similarly, in Australia, the Australian Bureau of Statistics (ABS) collects
the data of all finished products and the services produced (Treasury.gov.au 2019). Then the
ABS calculates the GDP of Australia by adding consumption, government expenditure,
investment and net exports. In this way, the economic condition of Australia is studied.
Figure 1: Australian economic growth rate
Year
GDP(%) rate of growth