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Australia and New Zealand are leading global producers of wool products. Both countries attract large numbers of visitors and have sound tourism and service sectors. Australia’s climate makes large-scale farming challenging, although the country does produce wheat, bananas, pineapples, sugarcane, and other products. Cattle and sheep ranching are more widespread. Australia is a leading producer of opal, bauxite, and lead. New Zealand, by contrast, has a far more fertile landscape. Major exports include beef, dairy, and fruits and vegetables. Mining is a smaller industry, but gold, limestone, coal, and natural gas also are found in New Zealand. Australia’s economy is larger and more diverse than New Zealand’s and, as such, is stronger.

There are differences between the economies of Australia and New Zealand regarding per capita GDP, labor productivity, and growth.

What do you mean by economic activities?

Economic activity refers to the combination of goods, labor, or techniques that are combined to produce specific goods and services.

Australia has pulled in much better shape in per capita GDP than New Zealand after experiencing the recession, economic shocks, and bad policy.

Australia has more capital producing a third more wealth for every hour worked largely because they have more capital in terms of machinery and technology as compared to New Zealand.

Tax is another factor of difference between the two countries. In the case of the two countries, Australia is a much lower taxing country in terms of income tax whereas, New Zealand increased the tax and regulations in 2000.

Learn more about Economic activities here:

https://brainly.com/question/1155001

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