OECD annual inflation slows to 1.9% in June 2017, driven by energy prices

After several years of subdued growth, economic output accelerated in 2016 supported by a tax reform that entered into force in 2015-16, and more recently a pick-up in international trade.

Digitalisation will redesign production processes and alter relationships between work and leisure, capital and labour, the rich and the poor, the skilled and the unskilled. It creates opportunities to boost inclusive growth and well-being by raising productivity, enhancing private and public services, and democratising information.

Stable growth momentum in the OECD area

Successful implementation of economic reforms has boosted the Latvian economy, leading to strong growth, rising wages and solid public finances. Further policy action is now needed to accelerate productivity growth, create jobs, drive down poverty, improve living standards and ensure that everyone benefits from more inclusive growth, according to a new report from the OECD.

The world economy has picked up momentum, as expanding investment, employment and trade support synchronised growth across most countries, according to the OECD’s latest Interim Economic Outlook.

With gross government debt of 219% of GDP in 2016, Japan’s fiscal situation is in uncharted territory and puts the economy at risk.

celand has been experiencing a tourism boom. The number of tourists visiting annually quadrupled between 2010 and 2016 and shows continued strength. The tourism sector is now the major export earner and is also creating new jobs and supporting new businesses.

The Swiss economy has shown considerable resilience to shocks, but economic growth remains slow, and per capita income levels still hover at levels attained before the global economic crisis. Further reforms are needed to restore productivity growth, boost incomes and ensure that today’s high living standards and levels of well-being are passed on to future generations, according to a new report from the OECD.

Austria’s transition to a digital economy and society is slower than in other high-income small open European economies.

Digitalisation is one of the megatrends affecting societies and labour markets, alongside demographic change and globalisation.

Costa Rica has made impressive economic and social progress in recent years, with robust economic growth facilitating near-universal access to education, health care and pensions.

Greece’s recovery from deep economic depression is finally gaining traction, according to the OECD. Economic growth has started to pick up led by a rise in exports while labour market reforms have improved competitiveness and are helping to create jobs.

Greece is finally recovering from a deep depression. In 2017 GDP expanded by 1.3%, according to initial estimates, and is projected to accelerate to 2% in 2018 and 2.3% in 2019.

Thailand has made remarkable socio-economic progress over the past several decades. Poverty has plummeted and access to education and health services has become near universal.

Thailand’s "sufficiency economy philosophy" encourages the prioritisation of long-term sustainability over short-term benefits.

The German economy is undergoing a robust expansion, with record-low unemployment and real wage gains underpinning domestic demand while strong exports are driving business investment. The strong fiscal position will offer opportunities for funding structural reforms and public investment to meet future challenges, according to a new report from the OECD.

Short-term prospects for the Korean economy are good, with an uptick in world trade and fiscal policy driving growth, but productivity remains relatively low and the country faces the most rapid population ageing in the OECD area, according to a new report from the OECD.

Consecutive years of primary deficits have led to mounting public debt of almost 50% of GDP, one of the fastest increases in Latin America over the last decade.

Policy choices made today can have important positive effects on future living standards, according to new long-term economic scenarios released by the OECD.

The Czech economy is thriving, with robust employment, expanding exports and falling government debt. Efforts should now focus on boosting workforce skills and innovation to improve labour supply and productivity, further reduce poverty and inequality, and green the economy, according to two new OECD reports.

The Irish economy has experienced a decline in productivity growth over the past decade. This has mostly reflected the poor performance of local firms, with the large productivity gap between foreign-owned and local enterprises having widened.

This paper examines an industry whose economic activity uses a natural capital on which its profit also relies.

This paper investigates the effect of structural characteristics on debt limits of middle income countries.

OECD annual inflation up to 2.8% in June 2018, driven by energy and food prices

The euro area sovereign debt crisis has exposed important flaws in the design of the Economic and Monetary Union, especially when it comes to dealing with macroeconomic shocks.

Tentative signs of easing growth momentum in the OECD area

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Imports in Australia decreased to 31815 AUD Million in March from 32993 AUD Million in February of 2020. Imports in Australia averaged 12243.77 AUD Million from 1971 until 2020, reaching an all time high of 36144 AUD Million in October of 2019 and a record low of 393 AUD Million in May of 1972. Australia imports mainly machinery and transport equipment (40 percent of total imports), of which road vehicles account for 12 percent, industrial machinery for 6 percent, electrical machinery for 5 percent and telecommunications and sound recording for 5 percent.The country also imports: petroleum (11 percent); manufactured goods (12 percent); chemicals and related products (10 percent); and food and live animals (5 percent). Main import partners are China (23 percent of total imports), the US (11 percent), Japan (7 percent), South Korea, Thailand and Germany (5 percent each) and Malaysia (4 percent). This page provides the latest reported value for - Australia Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Core consumer prices in Australia increased 1.80 percent in March of 2020 over the same month in the previous year. Core Inflation Rate in Australia averaged 3.59 percent from 1983 until 2020, reaching an all time high of 10.70 percent in the first quarter of 1983 and a record low of 1.50 percent in the fourth quarter of 2016. In Australia, the core inflation rate tracks changes in prices that consumers pay for a basket of goods which excludes some volatile price items. This page provides - Australia Core Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Brazil’s economic growth has been supported in recent years by important government investment and social programmes that mobilise resources across the country. These programmes could help Brazil to meet its goals of sustaining economic growth and fostering social development, while reducing regional disparities.

Nos últimos anos, o crescimento econômico do Brasil teve o apoio de importantes investimentos e programas sociais do governo, que mobilizaram recursos em todo o país. Esses programas podem ajudar o Brasil a atingir seus objetivos de crescimento econômico sustentado e promover o desenvolvimento social, reduzindo as disparidades regionais.

After a decade of relatively strong growth, Latin America is facing headwinds associated with declining trade, a moderation in commodity prices and increasing uncertainty over external financial conditions, according to the latest Latin American Economic Outlook jointly produced by the OECD Development Centre, the UN Economic Commission for Latin America and the Caribbean (UN ECLAC) and CAF - Development Bank of Latin America.

OECD Science, Technology and Industry Scoreboard 2013 country notes

Sustaining high agricultural growth is critical to Brazil's overall development given the importance of agriculture and agro-industries to the national economy and the resource potential that has yet to be exploited.

The recent droughts in Brazil’s Rio de Janeiro and São Paulo states have exposed the need to shift from crisis management to effective risk governance of the country’s water resources, according to a new OECD report.

The OECD Working Group on Bribery urges Brazil, one of the founding Parties to the Anti-Bribery Convention since 1997, to preserve the full capacity and independence of law enforcement authorities to investigate and prosecute foreign bribery and corruption.

Openness is one of the key values that guide the OECD vision for a stronger, cleaner, fairer world. This is why the OECD welcomes the launch of the Open Government Partnership today and the efforts led by Presidents Obama and Rousseff to promote government transparency, fight corruption, empower citizens and maximise the potential of new technologies to strengthen accountability and foster participation in public affairs.

Chicago is at a tipping point: despite economic strengths, it faces considerable challenges to compete in the “Premier League” of world-class cities, warns the OECD’s review of the Chicago Tri-State Metropolitan Region.

A return to growth is essential to leave the crisis behind. But the path to growth will be difficult for governments if they do not rebuild trust with their citizens.

Mexico’s river basins are under severe water stress. The quality of rivers, lakes and aquifers is declining and floods, droughts, and hurricanes are more frequent. These are some of the alerts signaled in OECD’s Making Water Reform Happen in Mexico.

Brazil’s economic growth has been supported in recent years by important government investment and social programmes that mobilise resources across the country. These programmes could help Brazil to meet its goals of sustaining economic growth and fostering social development, while reducing regional disparities.

“Crowdsourcing” pools the strength of the many to perform complex tasks–everything from funding a film to sequencing DNA. At its heart is trust–not a blanket belief in great institutions, but rather the confidence between individuals that each will do the right thing. Its power is being increasingly felt today, even in the world of international development.

Russians are becoming increasingly active in the country’s social arena. While activists remain a small but growing and visible minority of citizens looking for changes in governance, many more are becoming involved in the day-to-day affairs of their communities. It remains to be seen whether this emerging culture of civic participation will sit comfortably with existing governance structures.

More than five years into an economic crisis which has taken on several names–from subprime crisis and financial crisis to great recession–no term accurately depicts the fundamental result of this economic turbulence: people facing hardship.

With gross government debt surpassing 200% of GDP, Japan’s fiscal situation is in uncharted territory. In addition to robust nominal GDP growth, correcting two decades of budget deficits requires a large and sustained fiscal consolidation based on a detailed and credible multi-year plan that includes measures to control spending and raise revenue.

Apparently, the United States enjoys a surplus of deficits. President Obama’s first State of the Union address warned that we are weakened and endangered not only by our financial deficit, but also by a deficit in trust.

Mexico regularly faces a wide range of natural hazards, including earthquakes, tropical storms and floods. Over the years, the National Civil Protection System has improved its institutional and operational preparedness to manage these disruptive events. But more can be done to avoid future losses and at the same time support sustainable economic development.

Well-functioning judicial systems play a crucial role in determining economic performance – notably by guaranteeing the security of property rights and the enforcement of contracts – but not all countries’ judiciaries operate at the same level of efficiency.

Italy’s policy of fiscal consolidation and growth-friendly structural reforms has substantially improved its economic prospects, but the adverse sentiment that the country has faced in the sovereign bond market over the past years has deep roots.