Top 10 Oceanian Countries by Gross Domestic Product (RGDP) 1960-2018

This video features the top 10 Oceanian countries by gross domestic product (RGDP) from 1960 to 2018.

The GDP figures in this video represent the GDP at purchaser’s prices, which takes into account the total gross value added by all domestic producers in the economy and all relevant product taxes before deducting any subsidies not included in the product prices. Nevertheless, these figures do not factor in the depreciation of fabricated assets and the gradual degradation and depletion of precious natural resources over time.

Moreover, these data are expressed in constant 2010 U.S dollars to adjust for changing cost of living as a result of inflation, meaning the real GDP allows us to make meaningful comparison of quantity of output over the years. Last but not least, #GDP figures expressed in domestic currencies are converted to their USD equivalent using 2010 official exchange rate.

Objectives of This Video:
1) To find out the top 10 richest countries in Oceania by real GDP from 1960 to 2018.
2) To visually compare the economic performance of Oceanian countries from the perspective of real gross domestic product (RGDP) over the years.

Key Takeaways from This Video:
1) The Australian economy (the largest #Oceanian economy by real GDP in 2018) makes up 1.74% of the world real GDP in the same year.
2) The total GDP of the 10 largest economies in Oceania has exploded by 713% from 1960 to 2018 while the World GDP has increased by more than eightfold (828%) over the same period.
3) As of 2018, the top 10 largest Oceanian economies together constitute 99.91% of the Oceanian total GDP and just 2.01% of the world economy in terms of real GDP.
4) For the past 10 years, the 10 richest Oceanian economies have collectively grown by 2.61% annually, which is faster than the global average (2.518%) by about 0.1%.

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This video is part of the video series called “Economic Performance Indicators Rankings: Gross Domestic Product (GDP)” created to examine and compare the economic condition of all countries in the world with the help of various appropriate macroeconomic indicators, particularly the Gross Domestic Product (GDP) data.

Link to the video playlist: https://www.youtube.com/playlist?list=PLRA_U4Pw2yqkygM2hVBKT4qU9-ZPYsC80

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Questions Worth Asking:

1) Why do you think these countries are being featured as the 10 largest economies in the Oceania?
2) Is having a high relative RGDP equivalent to being economically and socially superior to other poorer countries with lower corresponding figures?
3) What should policymakers do to ensure #SustainableDevelopment in both their economy, environment and social structure?

Let me know what your thoughts are for each of the questions mentioned above.

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We have created the following playlists to organize our videos by theme:

Economic Performance Indicators Rankings https://www.youtube.com/playlist?list=PLRA_U4Pw2yqkygM2hVBKT4qU9-ZPYsC80
Greatest Battle of the 21st Century https://www.youtube.com/playlist?list=PLRA_U4Pw2yqla-cXdEBaEkVg1w-z0g1AS
Are We Doomed?: Great Challenges Need to be Overcome in Achieving the Sustainable Development Goals (SDGs) https://www.youtube.com/playlist?list=PLRA_U4Pw2yqmgrkugx5DgANtDELulMRiU
Social Media Rankings https://www.youtube.com/playlist?list=PLRA_U4Pw2yqmfaQGiNJiDbTtNTZ5Wi2a1

Do check out similar videos on other global economic trends and news:

Top 10 Countries by Gross Domestic Product (RGDP) 1960-2018 https://youtu.be/Ia41qmuAs7A
Bottom 10 Countries by Gross Domestic Product (RGDP) 1960-2018
https://youtu.be/WOdQQVCYtJI
Top 15 Countries by Army Size 1816-2018 https://youtu.be/NDjimnQ-GgU
Top 15 Countries with Highest Military Spending 1960-2018
https://youtu.be/txtGC9qvroo

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Data Source:
World Bank https://data.worldbank.org/

Music Source: Youtube Audio Library
Music Title: Allemande (Sting) & Midnight & Making Rounds & Saga of Seven Bucks
https://www.youtube.com/audiolibrary/music?nv=1