In 2022, agriculture contributed around 2.68 percent to the GDP of Australia, 27.48 percent came from industry, and 63.3 percent from the services sector. The same year, the Australian inflation rate, another important key indicator for its economic situation, amounted to 2.82 percent. Why is the inflation rate important?Inflation is the steady increase in price levels for consumer goods and services during a certain timespan. The European Central Bank considers a steady inflation rate of two percent a year beneficial for a stable economy – otherwise a country risks economic hardship. In the worst case, a country can experience either hyperinflation (like Venezuela), which is the rapid increase of prices to a point of economic collapse, or deflation, which is the decrease of prices and devaluation of money that can also lead to economic collapse. Up and down under Australia’s inflation has been clawing itself out of a slump in 2016, when it unceremoniously dropped to 1.25 percent due to falling petrol costs and oil prices. The following year, it recovered instantaneously and soared back to just under two percent, and forecasts see it reaching 2.52 percent by 2021. Australians don’t seem too worried about this outlier, and rightly so, since Australia’s economy is still one of the biggest in the Asia-Pacific region and worldwide.

In the financial year 2021, the mining industry in Australia accounted for almost 11 percent of real gross value added to the economy. In the same fiscal year, the financial and insurance services reported around 9.3 percent of real gross value added to the economy.

The statistic depicts Australia's gross domestic product (GDP) from 1987 to 2023, with projections up until 2029. In 2023, GDP in Australia amounted to about 1.74 trillion US dollars. See global GDP for a global comparison.

Australia’s economy and population

Australia’s gross domestic product has been growing steadily, and all in all, Australia and its economic key factors show a well-set country. Australia is among the countries with the largest gross domestic product / GDP worldwide, and thus one of the largest economies. It was one of the few countries not severely stricken by the 2008 financial crisis; its unemployment rate, inflation rate and trade balance, for example, were hardly affected at all. In fact, the trade balance of Australia – a country’s exports minus its imports – has been higher than ever since 2010, with a slight dip in 2012. Australia mainly exports wine and agricultural products to countries like China, Japan or South Korea. One of Australia’s largest industries is tourism, which contributes a significant share to its gross domestic product. Almost half of approximately 23 million Australian residents are employed nowadays, life expectancy is increasing, and the fertility rate (the number of children born per woman) has been quite stable.

A look at the distribution of the world population by continent shows that Australia is ranked last in terms of population and population density. Most of Australia's population lives at the coast in metropolitan areas, since parts of the continent are uninhabitable. Unsurprisingly, Australia is known as a country with very high living standards, four of its biggest cities – Melbourne, Adelaide, Sydney and Perth – are among the most livable cities worldwide.

The Gross Domestic Product (GDP) in Australia was worth 1728.06 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Australia represents 1.64 percent of the world economy. This dataset provides - Australia GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

IBISWorld has outlined key AU industries that are set to fly and fall by 2030. Several new industries feature among the Australian economy’s risers and fallers.

Australia GDP: % of Manufacturing: Food, Beverages and Tobacco data was reported at 23.010 % in 2022. This records a decrease from the previous number of 25.477 % for 2021. Australia GDP: % of Manufacturing: Food, Beverages and Tobacco data is updated yearly, averaging 18.406 % from Dec 1963 (Median) to 2022, with 34 observations. The data reached an all-time high of 27.037 % in 2014 and a record low of 13.908 % in 1968. Australia GDP: % of Manufacturing: Food, Beverages and Tobacco data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Gross Domestic Product: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Food, beverages, and tobacco correspond to ISIC divisions 15 and 16.;United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.;;

As of December 2024, the gross value added (GVA) by the coal mining industry in Australia amounted to about 106 billion Australian dollars. This figure represents an increase from the previous year. Coal mining economic contribution Employment in the coal mining industry has declined over the past decade, but saw a rise again in 2023. Tens of thousands of people are still included in the coal mining workforce. Australia is one of the world’s largest exporters of coal. With China being the largest coal consuming country in the world, recent tensions have cast uncertainty on trade relations, including the export of Australian coal. Coal mining companies UK-Australian based BHP and Rio Tinto were among the leading mining companies worldwide. These multinational companies have a diverse mining portfolio that includes Australian coal. This comes as no surprise, as Australia has coal reserves totaling almost 150 billion metric tons.

IBISWorld explores the impact of a Biden Presidency on Australia, and how Democratic policies are likely to influence the Australian economy.

IBISWorld explores the outlook for the Australian economy in 2020-21, identifying the key industries to watch in the ongoing COVID-19 pandemic.

As of May 2022, approximately 15 percent of people employed in the Australian workforce were working in the health care and social assistance industry. Other leading industries for employment were professional, scientific, and technical services, as well as retail trade.

Legacy product - no abstract available

The Australia Data Center Market is segmented by Hotspot (Melbourne, Perth, Sydney), by Data Center Size (Large, Massive, Medium, Mega, Small), by Tier Type (Tier 1 and 2, Tier 3, Tier 4) and by Absorption (Non-Utilized, Utilized). Market Volume in Megawatt (MW) is presented. Key Data Points observed include IT load capacity for existing and upcoming data centers, current and upcoming hotspots, average mobile data consumption, volume of fiber cable connectivity in KM, existing and upcoming submarine cables, rack space utilization, and number of data centers by tier.

This dataset presents data on economy and industry available from the ABS Data by Region statistics. This release of Data by Region presents various data for 2011-2019 and Census of Population and Housing data for 2011 and 2016 and is based on the Statistical Area 4 (SA4) 2016 boundaries. The dataset includes information in the following specified areas of economy and industry: Business Entries and Exists, Buildings Approvals, Residential Property Prices, Mean Household Net Worth, Patent and Trademark Applications, Insolvencies, Motor Vehicle Census, Tourist Accommodation Establishments, Agricultural Commodities, Gross Value of Agricultural Production and Industry of Employment.

Data by Region contains a standard set of data for each region type, depending on the availability of statistics for particular geographies. Data are sourced from a wide variety of collections, both ABS and non-ABS. When analysing these statistics, care needs to be taken as time periods, definitions, methodologies, scope and coverage can differ across collections. Where available, data have been presented as a time series - to enable users to assess changes over time. However, when looked at on a period to period basis, some series may sometimes appear volatile. When analysing the data, users are encouraged to consider the longer term behaviour of the series, where this extra information is available.

For more information please visit the Explanatory Notes.

AURIN has made the following changes to the original data:

• Spatially enabled the original data with the ABS Australian Statistical Geography Standard (ASGS) SA4 2016 dataset.

• Some data values in Data by Region have been randomly adjusted or suppressed to avoid the release of confidential details.

• Where data was not available, not available for publication, nil or rounded to zero in the original data, it has been set to null.

• Columns and rows that did not contain any values in the original data have been removed.

The Australia Aviation Market is segmented by Aircraft Type (Commercial Aviation, General Aviation, Military Aviation). Key Data Points observed include air passenger traffic, air transport freight, defense spending, military aircraft active fleet, revenue passenger kilometers, high-net worth individuals, and inflation rate.

Tourism is a major export earner for Australia, a source of employment for hundreds of thousands of workers and a key driver of growth in the economy. Unlike many other industries which are concentrated in geographic pockets, the benefits of tourism are widespread, with almost half of all expenditure going into regional Australia.

Tourism is also an industry that cuts across many sectors of the Australian economy — retail trade, accommodation, transport and food services being the most obvious examples. As a result, tourism does not fit within conventional frameworks used to measure economic activity. For this reason, tourism satellite accounts have been created to quantify the differing contributions from other industries, and to estimate the value of the visitor economy.

The Australia Foodservice Market is segmented by Foodservice Type (Cafes & Bars, Cloud Kitchen, Full Service Restaurants, Quick Service Restaurants), by Outlet (Chained Outlets, Independent Outlets) and by Location (Leisure, Lodging, Retail, Standalone, Travel). Market Value in USD is presented. Key data points observed include the number of outlets for each foodservice channel; and, average order value in USD by foodservice channel.

The report covers Australian Retail Industry Companies & Overview and is segmented by Products (Food and Beverages, Personal and Household Care, Apparel, Footwear and Accessories, Furniture, Toys and Hobby, Electronic and Household Appliances, and Other Products) and Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, and Department Stores, Specialty Stores, Online, and Other Distribution Channels).

Contains a range of producer price indexes. Firstly, economy-wide indexes are presented within a Stage of Production (SOP) framework, followed by a set of partial, stand-alone measures relating to specific industry sectors of the economy (selected manufacturing, construction, mining and service industries).

Australia Electric Automation Market size was valued at USD 522.64 Million in 2023 and is projected to reach USD 1,140.61 Million by 2031, growing at a CAGR of 10.35% from 2024 to 2031.

Australia Electric Automation Market Overview

Electric automation is the use of electrical systems and devices to monitor and automate industrial processes and machines. This involves combining components such as sensors, actuators, controls, and software to build automated processes that increase efficiency, accuracy, and safety in many applications. Electric automation is crucial in sectors such as manufacturing, energy, transportation, and building management, where it enables real-time monitoring, control, and optimization of operations. The Australian electric automation market is experiencing significant growth, driven by the increasing adoption of advanced technologies across various industries. The growing need for industrial automation in sectors like manufacturing, mining, and utilities. Manufacturing, in particular, has undergone a significant shift toward automation as companies seek to remain competitive in a market. Automation technology, such as robots, programmable logic controllers (PLCs), and human-machine interfaces (HMIs), has enabled businesses to streamline industrial processes, reduce downtime, and improve product quality.

For example, prominent Australian manufacturers such as BHP and Rio Tinto have used considerable automation technologies to improve their operational efficiency and production. The mining sector, a critical component of Australia’s economy, has also embraced electric automation to a significant extent. Automation technologies are being deployed in various mining operations to improve safety, reduce operational costs, and increase productivity. Autonomous haul trucks, automated drilling systems, and remote monitoring and control systems are some of the key automation solutions being implemented in the mining industry. These technologies not only improve operating efficiency but also increase safety by minimizing the need for human intervention in hazardous environments. In addition to industrial applications, the utility sector in Australia is increasingly adopting electric automation solutions to enhance the reliability and efficiency of power generation, transmission, and distribution. Smart grid technologies, automated metering infrastructure, and advanced distribution management systems are being implemented to optimize the performance of the electrical grid, reduce energy losses, and improve the overall quality of power supply.

Companies like AGL Energy and Origin Energy are investing heavily in automation technologies to enhance their operational efficiencies and provide better services to their customers. Moreover, the Australian government’s initiatives to support advanced manufacturing and innovation are also playing a crucial role. Programs such as the Advanced Manufacturing Growth Centre (AMGC) aim to help local manufacturers adopt cutting-edge technologies and enhance their competitiveness. These initiatives are fostering an environment conducive to the adoption of electric automation technologies. The high initial costs associated with the implementation of automation solutions, coupled with the need for skilled labor to operate and maintain these systems, are some of the key challenges facing the market. Additionally, concerns related to cybersecurity and data privacy in automated systems are also hindering the widespread adoption of electric automation solutions. Technological advancements, such as the development of artificial intelligence (AI), Internet of Things (IOT), and machine learning (ML) technologies, are expected to further enhance the capabilities of automation systems and drive their adoption across various sectors. Moreover, the increasing focus on sustainability and energy efficiency is likely to boost the demand for electric automation solutions, particularly in the energy and utilities sector.

The Professional Services subdivision's performance is largely linked to overall economic conditions, often determining business confidence and capital expenditure. Over the past few years, greater business profit and rising capital expenditure by the public sector have supported subdivision demand. However, construction projects that were delayed or cancelled because of surging construction expenses and labour scarcity adversely impacted several industries, including architectural services and engineering consulting. This factor has dampened overall subdivision performance, contributing to revenue only growing by an annualised 1.0% through the end of 2024-25 to $324.5 billion. This trend includes a 1.6% rise in the current year, as the rise of AI, particularly generative AI (genAI) and sustainability trends, enables higher value-added service offerings. The professional services subsector is shifting towards tech-oriented strategies. Service providers are incorporating advanced tech solutions like AI-assisted data analysis and genAI into operations. This technological integration improves efficiency and service delivery and facilitates innovation. GenAI has also enabled higher precision in services like design, consulting and accounting, redefining service delivery. High-value, tech-oriented services command premium pricing and have contributed to revenue growth. However, these come with inherent challenges. Requiring specialised skills leads to increased operational costs, including training expenses and investments in technology. The increased remuneration needed to attract and retain talent has escalated costs and exerted pressure on profit margins over the past few years. The Professional Services subdivision is forecast to grow over the next few years, driven by sustainability trends and enhanced regulations. As the focus on renewable energies intensifies, demand for engineering consultants equipped with specialist knowledge is set to accelerate. The need for mandatory climate disclosures and ESG compliance also presents growth potential for accounting and advisory firms. Technology is another determining factor that will dictate service offerings' operations, quality and variety. As demand for tech-oriented solutions intensifies, service providers will be more inclined to invest in tech-related expertise, adding value to their service offerings and enhancing their competitive edge in the market. These forces are why subdivision revenue is forecast to expand at an annualised 2.4% through the end of 2029-30, to $365.5 billion.