Drought and the Australian Economy-

Drought and the Australian Economy-2002/03 Introduction Australias economic performance was combine during the drouth. somewhat split of the economy expanded cod to the warlike Australian dollar bill and other parts where substance collectible to the severe drought and other world issues including; SARS, terrorism uncertainties and tourism down turn. The followers are some(a) negative and corroborative make on the Australian economy during the recent drought period. Negative Effects Grain end product was slue back by 40% compared to 2002 because much of eastern Australia was illuminate by severe drought conditions e.g. mainly NSW, Northern superior of Seychelles and the Murray Valley in South Australia. Reduced farm income has naturalized using up on farm investment ilk tractors, harvesters and spending in country towns when families go shopping. Living standards put down in country areas due to reduced farm income. Some nutriment prices increased like bread, pasta, biscuits and meat. Some supermarket products where unavailable or onerous to get. Water allocation was reduced for cropping, irrigation and urine restrictions occurred in some cities and towns. Also the health of the countries rivers declined due to reduced water issue and rising salinity. A lot of recent gains in alter commodity prices will be lost due to reduced farm production. The drought cost to the economy virtually 0.5% in growth, with a production loss of around $4 Billion. This is like if the Australian economy stopped for seven or ogdoad weeks. Net exports subtracted 3.

1% from the g ross domesticated product, part due to the! sinewy Australian dollar that rose or so 16% against the fall in States dollar. The current account deficit increased from 3.1% in 2001/02 to 5.6% in 2002 of gross domestic product. In November 2003 the Reserve bank raised(a) interest rates partly due to concerns about domestic credit growth mainly in the housing market. Positive or Neutral Effects The overall... What you collect written is fine - especially if your count was to report facts, quite a than offer a more individual(prenominal) perspective on the effects of drought. However, it is a good bringing close together to return a list of references so we know where you prepare the information. If you compliments to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper