Comaprison of Indonesia and Australia's Economy

... In 2006/07, Australia had a population of 21 million while Indonesia had a population of 223 million, nearly 11 times larger. Indonesia is located in South-East Asia and Australia is just south of that same region. Indonesia is an archipelago of over 3000 islands with a tropical, rainy climate and dense rainforest vegetation. On the other hand Australia is an island continent, consisting mostly of dry and arid deserts. Australia is a small open economy which is classifies as a mixed market economy, meaning that the government only modifies the economic decisions made by private market forces through its legislative powers. In contrast to Australia, Indonesia is a large open economy. Economic Growth In terms of nominal Gross Domestic Product, Australia has a larger economy than Indonesia. Australia was ranked the 15th largest economy in the world with a GDP of US$742.3b, with an average rate of GDP pc growth between 1990

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