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.

The Gross Domestic Product (GDP) in Australia was worth 1752.19 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Australia represents 1.65 percent of the world economy. This dataset provides - Australia GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 ** among top 200 countries, when actually Australia ranked number ****** in the world.

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

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) 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.

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 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 *** billion U.S. dollars. Australia's second largest city, Melbourne, also contributed the second largest share of GDP.

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.

The Gross Domestic Product per capita in Australia was last recorded at 61211.90 US dollars in 2024. The GDP per Capita in Australia is equivalent to 485 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 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.

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.

The average for 2022 based on 7 countries was -3.72 percent. The highest value was in Samoa: 5.37 percent and the lowest value was in Kiribati: -13.12 percent. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.

In 2021, Macao had the highest estimated gross domestic product (GDP) growth with **** percent, followed by the Maldives with an estimated GDP growth of **** percent. Many economies were forecasted to have seen a decline in GDP in 2021, possibly due to COVID-19, reaching up to *** 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 **** trillion U.S. dollars, followed by India, South Korea, and Australia. In comparison, the GDP value for emerging and developing Asia was at aproximately **** trillion international dollars in that year. In terms of GDP per capita, Singapore ranked the highest with approximately **** U.S. dollars, followed by Australia with a per capita GDP of around **** 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.

Australia GDP: Growth: Gross Value Added: Industry data was reported at 2.558 % in 2019. This records a decrease from the previous number of 2.789 % for 2018. Australia GDP: Growth: Gross Value Added: Industry data is updated yearly, averaging 2.325 % from Jun 1976 (Median) to 2019, with 44 observations. The data reached an all-time high of 8.371 % in 1988 and a record low of -4.283 % in 1983. Australia GDP: Growth: Gross Value Added: Industry 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: Annual Growth Rate. Annual growth rate for industrial value added based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average; Note: Data for OECD countries are based on ISIC, revision 4.

In 2023, agriculture contributed around 2.57 percent to the GDP of Australia, 27.65 percent came from industry, and 63.57 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 1870, the GDP of the U.S., Canada, Australia, and New Zealand was eight times larger than in 1820, and by 1913 it was almost 42 times larger. Although Europe had the largest share of global GDP in 1913, it had only grown by 5.4 times since 1820. GDP in the Asia-Pacific region did not double over this period, as it was not until the latter half of the twentieth century when industrialization began on a large scale.

The Gross Domestic Product per capita in Australia was last recorded at 60082.01 US dollars in 2024, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Australia, when adjusted by Purchasing Power Parity is equivalent to 338 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.

Key information about Australia Government Debt: % of GDP

• Australia Government debt accounted for 38.0 % of the country's Nominal GDP in Jun 2023, compared with the ratio of 41.9 % in the previous year.
• Australia government debt to GDP ratio data is updated yearly, available from Jun 1999 to Jun 2023.
• The data reached an all-time high of 47.6 % in Jun 2021 and a record low of 9.6 % in Jun 2007.

CEIC calculates Government Debt as % of Nominal GDP from annual Government Debt and quarterly Nominal GDP. Government Debt is calculated as the sum of General Government Currency & Deposits, Advances and Debt Securities. The Australian Bureau of Statistics provides Government Debt in local currency based on SNA 2008 and Nominal GDP in local currency. Government Debt prior to 2009 is based on SNA 2008 GFMS 2001. Government Debt prior to 2000 is based on SNA 1993. Government Debt as % of Nominal GDP is in annual frequency, ending in June of each year..


Related information about Australia Government Debt: % of GDP

• In the latest reports, Australia National Government Debt reached 650.9 USD bn in Jun 2023.
• The country's Nominal GDP reached 440.1 USD bn in Mar 2023.