§ 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. Denzil DaviesThe latest available figures are as follows:
Gross domestic product at factor cost per head of total population US dollars Australia Year ending 30th June 1976 5,461 Year ending 30th June 1977 5,960 United Kingdom Calendar year 1976 3,508 Source: National Accounts of OECD countries 1976 (Volume 1).
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.