§ Mr. Knoxasked the Chancellor of the Exchequer, from information available 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.
§ Mr. Joel BarnettThe latest available figures are as follows:
Gross domestic product at market prices(1) per head of total population US Dollars Australia Year ending 30th June 1975 5,946 Year ending 30th June 1976 6,239 United Kingdom Calendar year 1975 4,065 Source: National Accounts of OECD countries 1975 (Volumn 1).
(1) The OECD pulication uses the term "purchasers values".
The conversion to United States dollars in this publication was on the basis of official or market rates of exchange, which do not reflect the relative internal purchasing power of the currencies and can thus be very misleading. Estimates based on purchasing power parities are not available for Australia.
§ Mr. Dykesasked the Chancellor of the Exchequer what was the gross domestic product per capita of each of the present member States of the EEC in 1958, 1963, 1968, 1973 and the latest available calendar year in £ sterling.
§ Mr. Joel BarnettEstimates of gross domestic productper capita for each of the present members of the EEC, converted into £ sterling using official or market rates of exchange, are given in the first table below. Comparable information for 677W 1958 is not available. Comparisons on this basis can be misleading, since official or market exchange rates do not necessarily reflect the relative internal purchasing power of the currencies. Esti-
GROSS DOMFSTIC PRODUCT AT MARKET PRICES PER CAPITA CONVERTED TO £ STERLING USING OFFICIAL OR MARKET RATES OF EXCHANGE 1963 1968 1973 1975 Belgium … … … … … 520 890 1,880 2,820 Luxembourg … … … … … 620 960 2,160 2,770 Denmark … … … … … 600 1,060 2,230 3,170 France … … … … … 610 1,030 1,960 2,870 West Germany … … … … … 590 940 2,260 3,060 Irish Republic … … … … … 280 430 870 1,120 Italy … … … … … 350 590 1,050 1,390 Netherlands … … … … … 430 810 1,830 2,690 United Kingdom … … … … … 560 780 1,280 1,840
GROSS DOMESTIC PRODUCT AT MARKET PRICES PER CAPITA CONVERTED TO £ STERLING ON THE BASIS OF EXTRAPOLATED PURCHASING POWER PARITIES* 1968 1973 1975 France … … … … … … … 830 1,560 2,300 West Germany … … … … … … … 870 1,540 2,260 Italy … … … … … … … 550 950 1,350 United Kingdom … … … … … … … 780 1,280 1,840 * Based on the method of extrapolation described in "International comparisons on the basis o purchasing power parities", Economic Trends, November 1975. Source: National Accounts ESA Aggregates 1960–75, Statistical Office of the European Communities.