ECONOMIES OF AUSTRALIA AND BRAZIL

Economies of Australia and Brazil

Introduction3

GDP growth Rate3

GDP Growth in Brazil3

GDP Growth in Australia5

Comparative Analysis of GDP Growth6

Trade Performance of Both these economies9

Trade in Brazil9

Australia Trade Prospects10

Analysis and Comparison of Trade Performance of Australia and Brazil11

Comparisons of the Business Environment in Australia and Brazil12

Business Environment in Australia12

Business Environment in Brazil13

Comparison of the Some Other Statistics14

Conclusion15

References16

Economies of Australia and Brazil

Introduction

Even thought it can be said that economic recession has had an adverse impact on most of the countries of the world. There are two countries that have emerged rather unscathed from these economic crisis and they are Australia and Brazil. Interestingly, both these countries lie on the Southern hemisphere. They have competed for the same market and even the trade relations between them are growing with leaps and bounds. Both these economies are rather interesting in their own sense and before making a comparison about them; it would be wise if one looks at the characteristics of both these economies. Analyzing them separately would give us better perspective about these economies.

GDP growth Rate

GDP Growth in Brazil

Gross Domestic Product is the annual economic production for the country in the given period of time using the factors of production of the domestic country and anything that is produced within the boundaries of the country. If one looks at the GDP of the Brazil, it can be seen that it has expanded at the rate of 3.30. This expansion happened in the second quarter of 2013. It reached its all time high in March of 1995 and it hit a record low of -3.2 % in March of 1992. The economy is the Largest in the Latin America and it contributes around 40% of the total GDP of the region (Abelson, 2009, 176-180). The services sector is the most important sector as constitutes of 70% of the total economic population. The biggest service within the services sector is that of education and health that contributes around 17% of the total contribution of the services sector.

These are some of the main concerns that are needed to be resolved if there is to be a long term solution to be inconsistency in the statistics of Brazil economy. For instance, even though its economy is ranked 6th in the world, they have been showing lackluster growth for last and a half year.

Exploring some other aspects of the Brazilian economy, it can be seen that there is considerable expansion in the industrial sector. It is a good sign for an economy that is as volatile as Brazil as industrial growth is something that always provides certain sense of stability to the economy. The expansion in the industrial sector has accounted for about 3.8% of the quarterly growth. Looking at some of the recent trends, Brazilian economy has been progressing rather well as they had a relatively disappointing 2012 (Batista, 2008, 2477-2487). The main reason for this apparent recovery has been the flexibility by the economic policy ...