Reseach paper

Topics: Gross domestic product, Unemployment, European Union Pages: 27 (1169 words) Published: October 10, 2013
NatStats 2010 Conference
Sydney, 15-17 September 2010

How Does Australia
Compare in the Global
Economy?
Martine Durand
OECD Chief Statistician and
Director of Statistics

Outline of presentation
How does Australia compare?
Australia during the recent crisis
Australia over the medium-term
What about Australian people?
Challenges for the future

1

Australia has fared well during
the crisis in terms of output…
Gross Domestic Product
Volume, s.a.
Q4 2007 = 100
108
106
104
102
100
98
96
94
Q4-2007 Q1-2008 Q2-2008 Q3-2008 Q4-2008 Q1-2009 Q2-2009 Q3-2009 Q4-2009 Q1-2010 Q2-2010 Australia

Canada

Korea

United States

European Union (27 countries)

Source: OECD (2010), National Accounts of OECD countries

…employment…
Total employment
Employees (Household Survey based),s.a.
Q4 2007 = 100
106
104
102
100
98
96
94
92

Australia

Canada

Japan

United States

Source: OECD (2010), Main Economic Indicators

2

…and unemployment
Harmonised Unemployment rates, s.a.

%
11
10
9
8
7
6
5
4
3
2

Australia

Canada

Japan

OECD - Europe

United States

Korea

Source: OECD (2010), Main Economic Indicators

This good performance reflects
in part strong demand from Asia
Australia, Total exports of goods by economic regions

1999
NAFTA (OECD)

2009
6%

11%

9%
EUROPE (OECD)

29%

12%

9%
44%

Other

13%

ASIA & OCEANIA
(OECD)
ASIA (Non-OECD)

32%
34%

Source: OECD (2010), International Trade by Commodity Statistics

3

... and perpetuates favourable mediumterm developments, for instance aboveaverage economic activity… Gross Domestic Product
Volume, s.a.
Q1 1995 = 100
200
180
160
140
120
100
80

Australia

Canada

Korea

United States

European Union (27 countries)

7
Source: OECD (2010), National Accounts of OECD countries

…with a gradual reduction in the gap in
GDP per capita vis-à-vis the OECD
average1
Productivity and income levels, 2009
Percentage gap with respect
to the upper half of OECD countries in

Percentage gap for labour

Percentage gap for

resource utilisation 3

terms of GDP per capita 2

labour productivity4

United States

United States

Australia

Australia

Canada

Canada

EU19

EU19

Japan

Japan

Korea

Korea

-40

-20

0

20

40

-40

-20

0

20

40

-60

-40

-20

0

20

1. Relative to the simple average of the highest 17 OECD countries in terms of GDP per capita, based on 2009 PPPs (2008 for Chile, Israel and Slovenia).
Source: OECD, National Accounts database, OECD, Economic Outlook Database and OECD (2009), Employment Outlook

4

Good utilisation of labour, including for
some disadvantaged groups on the
labour market ...
Employment by selected age group
Employment / population ratio in percentage, 2009
70

60
50
40
30
20
10
0
Japan

OECD Total

United States

Age group 15-24

Canada

Australia

Netherlands

Age group 55-64

Source: OECD Employment Outlook 2010

Above average participation rate of
women
Women aged 15-64 years, percentage, 2009
90

2005

2009

80
70
60
50

40
30
20
10

0

Korea

OECD total

Japan

United States

Australia

Canada

Iceland

Source: OECD Employment Outlook 2010

5

Lower than average unemployment rate
of foreign-born relative to native-born
Ratio, 2009
2.5
2.0

1.5
1.0

0.5
0.0
United States

Canada

Australia1

OECD average

Sweden

Belgium

1. Second quarter 2009
Source: OECD (2010), International Migration Outlook: SOPEMI 2010

... But lagging labour productivity
growth...
GDP per hour worked
1995=100
135
130
125
120
115

110
105
100
95
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