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Gross Domestic Product

Volume 897: debated on Thursday 7 August 1975

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asked the Chancellor of the Exchequer (1) from information available to him from international sources, what was the gross domestic product per head at factor cost in Australia for the most recent year for which information is available; and how this compares with the figure for the United Kingdom;(2) from information available to him from international sources, what was the gross domestic product per head at factor cost in New Zealand for the most recent year for which information is available; and how this compares with the figure for the United Kingdom.

The latest published information relates to gross domestic product in purchasers' values, per head of total population, in United States dollars. The figures are given in the table below. In periods of fluctuating exchange rates the conversion to United States dollars cannot be exact; moreover, exchange rates do not reflect the relative internal purchasing power of the currencies.

US dollar
Australia:
Financial year July 1971–June 19723,239
Financial year July 1972–June 19733,769
New Zealand:
Financial year April 1972–March 19732,950
United Kingdom:
Calendar year 19722,742

Source: United Nations Year Book of National Accounts Statistics, 1973.