Due to the isolation of Australia geographically,...

Due to the isolation of Australia geographically, surrounding countries and their economies are extremely important to Australia for instances such as trade, influence and partnerships. Indonesia is one of Australia’s closest neighbours and hence there would be some obvious similarities as well as differences due to the economic status of the country’s stage of development and the role of the Government. Firstly the Australian economy is deemed one of the largest democratic economies as well as being stable in condition (Dfact 2012). Australia’s GDP is $1.57 trillion USD and with a total wealth of $6.4 trillion USD, making it the 12th nation ranked in the world in terms of GDP (nomial). (Wikipedia 2014) Currently the Gross Domestic†¦show more content†¦Furthermore Australia’s largest sector is in services whereas Indonesia’s is in industry. This could reflect the lack of tertiary education available in Indonesia as the workers will mainly be unskilled or low skilled. The GDP per capita is also drastically different and this would represent the average income in each economy, hence also reflecting the quality of life experienced. There are notable similarities between the two economies such as import and export partners due to the same region where both countries are located. Furthermore Australia’s GDP is significantly higher than that of Indones ia. This is also due to the fact that Australia is a developed country whereas Indonesia is an under - developed country. This would reflect the average income and hence the overall quality of life in each country which is shown in the Human Development Index, in which Australia’s HDI is 0.938 and Indonesia’s is 0.629. Additionally the life expectancy is also significantly different where Australia and Indonesia compare for 81 years to 70 years respectively (Country Economy 2013). 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