Australia's two nations



Australian Bureau of Statistics figures out this morning show clearly how Australia is like two different countries when it comes to economic growth. Queensland, Western Australia and the Northern Territory are well in front of the rest for the last decade although there has been recent improvement in South Australia.

Gross State Product (GSP) for the last year is shown in the table Gross State Product

The Average annual compound growth rate from 1997-98 to 2007-08 saw Queensland growing fastest at 5.0%, followed by WA with 4.4%, the NT 4.3%, the ACT 3.5%, Victoria 3.2%, NSW 2.8%, SA 2.6% and Tasmania 2.5%. Australia as a whole grew at a compound rate of 3.5% through the decade.

Adjusting for the impact of population growth on movements in GSP last year gives the chart GSP Per Capita.

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