This statistic presents the results of a survey on Australia's perceived and actual economic ranking among the world's top 200 countries as of October 2018. According to data published by Ipsos, respondents in Australia underestimated Australia´s global economic ranking. On average, the respondents thought that Australia's GDP ranked number 30 among top 200 countries, when actually Australia ranked number twelve in the world.

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.

The statistic depicts Australia's gross domestic product (GDP) from 1987 to 2024, with projections up until 2030. In 2024, GDP in Australia amounted to about 1.8 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.

Historical chart and dataset showing Australia GDP by year from 1960 to 2023.

The average for 2024 based on 10 countries was 62 index points. The highest value was in New Zealand: 78 index points and the lowest value was in Papua New Guinea: 49 index points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

The statistic shows the growth rate of Australia’s real GDP from 2020 to 2024, with projections up until 2030. In 2024, GDP in Australia grew by about 1.04 percent on the previous year.The recession-proof land down underGDP is one of the primary indicators used to gauge the state and health of a country’s economy. It is the total market value of all final goods and services that have been produced within a country in a given period of time, usually a year. GDP figures allow us to understand a country’s economy in a clear way. Real GDP, in a similar vein, is also a very useful indicator; this is a measurement that takes prices changes (inflation and deflation) into account, therefore acting as a key indicator for economic growth.The gross domestic product (GDP) growth rate in Australia has, for sometime, been able to get a steady foothold in the somewhat shaky post-recession world, shaky, but far from catastrophic. The annual growth rate between the 2008 and 2009 financial years, for example, a time at which the world was brought to its proverbial knees, saw growth rates down under reach to 2.49 and 1.37 percent respectively on the previous years, whereas the GDP growth rate in the United States plummeted well into the minus zone. Australia, like all other capitalist nations, is at the mercy of international markets, and when the world economy takes a hit, it would be foolish to suggest it could emerge fully unscathed. However, Australia has earned some much deserved praise and attention owing to the fact that it has managed to remain recession-free for the past twenty years. This could be thanks to its abundance of raw materials, the Australian mining boom, the fact the recession came at a time of high commodity prices and, maybe most importantly, that just under a third of its exports go to China.

The Gross Domestic Product (GDP) in Australia expanded 0.20 percent in the first quarter of 2025 over the previous quarter. This dataset provides - Australia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product per capita in Australia was last recorded at 61583.92 US dollars in 2023. The GDP per Capita in Australia is equivalent to 488 percent of the world's average. This dataset provides - Australia GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The average for 2023 based on 11 countries was 14570.03 U.S. dollars. The highest value was in Australia: 64820.91 U.S. dollars and the lowest value was in the Solomon Islands: 2041.64 U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

In financial year 2019, Sydney accounted for the largest share of GDP of any other city or region in Australia, with a value estimated to be over 461 billion U.S. dollars. Australia's second largest city, Melbourne, also contributed the second largest share of GDP.

The average for 2025 based on 12 countries was 2.99 percent. The highest value was in Palau: 5.74 percent and the lowest value was in Micronesia: 1.09 percent. The indicator is available from 1980 to 2030. Below is a chart for all countries where data are available.

In 2025, Luxembourg was the country with the highest gross domestic product per capita in the world. Of the 20 listed countries, 13 are in Europe and five are in Asia, alongside the U.S. and Australia. There are no African or Latin American countries among the top 20. Correlation with high living standards While GDP is a useful indicator for measuring the size or strength of an economy, GDP per capita is much more reflective of living standards. For example, when compared to life expectancy or indices such as the Human Development Index or the World Happiness Report, there is a strong overlap - 14 of the 20 countries on this list are also ranked among the 20 happiest countries in 2024, and all 20 have "very high" HDIs. Misleading metrics? GDP per capita figures, however, can be misleading, and to paint a fuller picture of a country's living standards then one must look at multiple metrics. GDP per capita figures can be skewed by inequalities in wealth distribution, and in countries such as those in the Middle East, a relatively large share of the population lives in poverty while a smaller number live affluent lifestyles.

The gross domestic product (GDP) per capita in Australia was estimated at about 66.25 thousand U.S. dollars in 2024. From 1980 to 2024, the GDP per capita rose by approximately 55.24 thousand U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the GDP per capita will rise by around 8.64 thousand U.S. dollars, showing an overall upward trend with periodic ups and downs.This indicator describes the gross domestic product per capita at current prices. Thereby, the gross domestic product was first converted from national currency to U.S. dollars at current exchange rates and then divided by the total population. The gross domestic product is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

The Gross Domestic Product per capita in Australia was last recorded at 60408.94 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Australia, when adjusted by Purchasing Power Parity is equivalent to 340 percent of the world's average. This dataset provides - Australia GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2021, Macao had the highest estimated gross domestic product (GDP) growth with 33.5 percent, followed by the Maldives with an estimated GDP growth of 31.6 percent. Many economies were forecasted to have seen a decline in GDP in 2021, possibly due to COVID-19, reaching up to 1.8 percent in Myanmar. Nevertheless, almost economies were forecasted to recover in 2022 and 2023.

The economic state in Asia

In 2020, China led the Asia Pacific region in terms of GDP with approximately 14.7 trillion U.S. dollars, followed by India, South Korea, and Australia. In comparison, the GDP value for emerging and developing Asia was at aproximately 20.8 trillion international dollars in that year. In terms of GDP per capita, Singapore ranked the highest with approximately 59.8 U.S. dollars, followed by Australia with a per capita GDP of around 51.8 U.S. dollars.

Higher GDP growth for developing Asia Pacific countries

For 2022 and 2023, it was forecasted that Macao and the Maldives would have the highest GDP growth. Overall, Afghanistan had the highest predicted rise in GDP growth from 2021 to 2023. South Asia, Southeast Asia, and Southwest Asia were forecasted to be leading the region’s economic growth with comparably higher GDP growth rates. Developed countries including Australia, New Zealand and Japan were projected to have stagnant GDP growth.

The average for 2023 based on 11 countries was 0.18 percent. The highest value was in Australia: 1.65 percent and the lowest value was in Kiribati: 0 percent. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

Australia GDP per Capita: New South Wales data was reported at 97,310.000 AUD in 2024. This records an increase from the previous number of 94,449.000 AUD for 2023. Australia GDP per Capita: New South Wales data is updated yearly, averaging 52,047.000 AUD from Jun 1990 (Median) to 2024, with 35 observations. The data reached an all-time high of 97,310.000 AUD in 2024 and a record low of 25,671.000 AUD in 1990. Australia GDP per Capita: New South Wales data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.A167: SNA08: Gross Domestic Product and Gross Domestic Product per Capita: by State.

In 2025, the United States had the largest economy in the world, with a gross domestic product of over 30 trillion U.S. dollars. China had the second largest economy, at around 19.23 trillion U.S. dollars. Recent adjustments in the list have seen Germany's economy overtake Japan's to become the third-largest in the world in 2023, while Brazil's economy moved ahead of Russia's in 2024. Global gross domestic product Global gross domestic product amounts to almost 110 trillion U.S. dollars, with the United States making up more than one-quarter of this figure alone. The 12 largest economies in the world include all Group of Seven (G7) economies, as well as the four largest BRICS economies. The U.S. has consistently had the world's largest economy since the interwar period, and while previous reports estimated it would be overtaken by China in the 2020s, more recent projections estimate the U.S. economy will remain the largest by a considerable margin going into the 2030s.The gross domestic product of a country is calculated by taking spending and trade into account, to show how much the country can produce in a certain amount of time, usually per year. It represents the value of all goods and services produced during that year. Those countries considered to have emerging or developing economies account for almost 60 percent of global gross domestic product, while advanced economies make up over 40 percent.

The average for 2023 based on 5 countries was 22.87 percent. The highest value was in Samoa: 28.75 percent and the lowest value was in Kiribati: 7.37 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

This dataset provides values for GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.