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Presented to Ms Jennifer Tan by: Chew Yu Heng Samuel 041737E Jasmine Ho Jie Min 044710M Lin Pei Jing 042881D Siti 041338Q • Economic condition and structure in both country • Balance of trade • Infrastructure of Australia and Thailand • Tax policy in Australia and Thailand • Comparison of interest rate between Australia and Thaliand. • Comparison of Thailand’s interest rate and inflation rate. • Real GDP • GDP per capita • Balance of Trade • Unemployment rate % change 1996 1997 1998 1999 2000 2001 Australia 4.3 3.7 5.2 4.8 3.1 2.6 Thailand 5.90 -1.37 -10.51 4.43 4.64 1.81 The % change in real GDP for Australia has been after 1998 to 2001. On the other hand, the % change in real GDP for Thailand is since 1999 to 2001. US$ 2001 2002 2003 Australia 18317 20309 25547 Thailand 1836 1998 2238 Australia GDP capita by US$ 7230 from 2001-2003 Thailand GDP capita 2003 by only US$ 402 from 2001- Measurement Errors Ignores Income Distribution Exchange Rate Fluctuations Purchasing Power % 9.00 8.00 7.00 6.00 Thailand Australia 5.00 4.00 3.00 2.00 1.00 0.00 1996 1997 1998 Year 1999 2000 2001 Thailand unemployment rate: from 1.5% in 1996 to 3.36% in 2001 Australia unemployment rate: from 8.2% in 1996 to 6.7% in 2001 Australia(US$m) 2002 2003 Total exports 65033 70358 Total imports 72690 88618 Thailand(US$m) 2002 2003 Total exports 66799 75430 Total imports 63363 64564 Australia: Balance of Trade - deficit of US$ 7,657 million in 2002 and a of deficit US$ 18,260 million in 2003. Thailand: Balance of trade - surplus of US$ 3,436 million in 2002 and a surplus of US$ 10,866 million in 2003. • Telephone mainlines • Computers & Internet • Developments of the countries per 1000 people 600 500 400 T hailand 300 Australia 200 100 0 1996 1997 1998 1999 2000 2001 year Australia - From 1995 to 2001, by 1.78% Thailand - From 1995 to 2001, by 55.86% Australia Thailand From 1995 to 2001, users have from 500 ,000 to 7,200,000. From 1995-2001, users have from 55,000 to 3,536,000 ICT expenditure change is 36.77% Thailand’s % change have by 6 times than that of Australia’s users Thailand has developed its ICT and in ICT expenditure by 6.43% Thailand is developing its economy and uses IT vastly. Australia 2005-06: Efforts to make rail freight more competitive. Extra funding provided to upgrade roads linking Melbourne, Sydney and Brisbane. Greater private-sector participation in infrastructure development will be encouraged. Thailand Expansionary policy Government expenditure of US$25 bn on health, education, irrigation and transport Focus of developing transport systems will be on Bangkok An investment budget of (US$12bn) for projects to expand the network from 44 km to around 290 km. • Fiscal Policy - Taxation of Australia and Thailand • Comparison of interest rate • Comparison of interest rate and core inflation rate of Thailand. Australia Thailand Personal Income tax raises to 47% cutting in at earnings of around US$50,000 per year 25% in the personal income tax exemption (first Bt100,000 of taxable income) Federal Govt collects a levy of 1.5% of personal taxable income Lower tax rate on 1st Bt1m(US$25,000) in net profits on small businesses 10% withholding tax on income flowing overseas are collected Companies sales under Bt 1.8m not be subjected to value-added tax Interest Rate (%) 9 8 7 6 5 Thailand 4 Australia 3 2 1 2002 2003 Thailand – Interest rate Australia – Interest rate Quarter 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter 4th 0 2004 Year from 6.5% in 2002 to 5.5% in 2004. from 7.6% in 2002 to 7.8% in 2004. Adapted from bank of Thailand • Inflation rate from 5.6% in 1995 to 7.2% in 1998 and to 0.9% in 1st Quarter of 2002. Inflation rate cause cost of production to • Interest rate from 13.9% in 1995 to 15.4% in 1997 and to 7.0% in 1st Quarter of 2002. Interest rate makes loans cheaper. • Thailand’s economy is improving as there is a Good balance of trade ( in surplus of US$ 7,430 million from 2002 to 2003) • Thailand’s infrastructure and facilities improving. • Better tax policy in Thailand. • Interest rate lower than Australia. • Inflation rate is low