Maritza Ascencion
& Charlie Peile
Australia vs Venezuela
Australia's GDP is $1.323 trillion USD which a significantly more amount than Venezuela. Because of the differences in economy, Australia, which has a more free market economy, has a higher GDP and GDP growth rate than Venezuela which has a more planned economy system. Australia also has a higher population rate and level of debt. If an Australian citizen earns $80,000 net, they are spending over $169,600 per year. (AAAAFinder). Venezuela also has a higher unemployment rate . than Australia. Venezuela's Inflation rate is also approximately 1% higher than Australia so Venezuelans pay more on products than Australians.
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There are differences in the country's main imports and exports. Australia Imports a lot of machinery and refined minerals. Venezuela imports a lot of oil, chemicals, and machinery. The differences between the main exports are because of the different regions and areas that the countries are in.
Australia exports a lot of animal products because there are a lot of healthy animals around. Venezuela doesn't import a lot of animal products because of the lack of healthy animals. (Campoy, Ana) The animals are dying of hunger because the government cannot afford to pay for the right nutrients for the animals. The venezuelan economy is crashing down and can no longer sustain enough supplies for the citizens. Many of the citizens are left starving on the streets. Many people own small shops on the side of the road ,because they can't pay for insured shops and they don't have to pay tax, that aren't insured so if a massive accident were to occur, the government wouldn't pay for it.