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.

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.

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 average for 2024 based on 9 countries was 16258 U.S. dollars. The highest value was in Australia: 60082 U.S. dollars and the lowest value was in the Solomon Islands: 2527 U.S. dollars. The indicator is available from 1990 to 2024. Below is a chart for all countries where data are available.

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 12 countries was 0.16 percent. The highest value was in Australia: 1.64 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: % of Manufacturing: Machinery and Transport Equipment data was reported at 19.717 % in 2022. This records a decrease from the previous number of 20.030 % for 2021. Australia GDP: % of Manufacturing: Machinery and Transport Equipment data is updated yearly, averaging 18.487 % from Dec 1963 (Median) to 2022, with 34 observations. The data reached an all-time high of 20.052 % in 2009 and a record low of 16.713 % in 2015. Australia GDP: % of Manufacturing: Machinery and Transport Equipment 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. Machinery and transport equipment correspond to ISIC divisions 29, 30, 32, 34, and 35.;United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.;;

Australia GDP: Growth: Adjusted Net National Income per Capita data was reported at 1.162 % in 2019. This records an increase from the previous number of 0.889 % for 2018. Australia GDP: Growth: Adjusted Net National Income per Capita data is updated yearly, averaging 2.175 % from Jun 1971 (Median) to 2019, with 49 observations. The data reached an all-time high of 5.534 % in 1988 and a record low of -1.794 % in 1991. Australia GDP: Growth: Adjusted Net National Income per Capita 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. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.;World Bank staff estimates based on sources and methods in World Bank's 'The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium' (2011).;Weighted average;

Graph and download economic data for Real Gross Domestic Product for Australia (NGDPRSAXDCAUQ) from Q3 1959 to Q1 2025 about Australia, real, and GDP.

Australia GDP: % of Manufacturing: Medium and High Tech Industry data was reported at 29.126 % in 2022. This records an increase from the previous number of 28.854 % for 2021. Australia GDP: % of Manufacturing: Medium and High Tech Industry data is updated yearly, averaging 26.359 % from Dec 1990 (Median) to 2022, with 33 observations. The data reached an all-time high of 29.126 % in 2022 and a record low of 21.002 % in 1992. Australia GDP: % of Manufacturing: Medium and High Tech 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: Share of GDP. The proportion of medium and high-tech industry value added in total value added of manufacturing;United Nations Industrial Development Organization (UNIDO), Competitive Industrial Performance (CIP) database;;

GDP: South Australia data was reported at 148,746.000 AUD mn in 2024. This records an increase from the previous number of 140,499.000 AUD mn for 2023. GDP: South Australia data is updated yearly, averaging 70,906.000 AUD mn from Jun 1990 (Median) to 2024, with 35 observations. The data reached an all-time high of 148,746.000 AUD mn in 2024 and a record low of 31,183.000 AUD mn in 1990. GDP: South Australia 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.

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.;;

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.

Time series data for the statistic Consolidated foreign claims of BIS reporting banks to GDP (%) and country Australia. Indicator Definition:The ratio of consolidated foreign claims to GDP of the banks that are reporting to BIS. Foreign claims are defined as the sum of cross-border claims plus foreign offices’ local claims in all currencies. In the consolidated banking statistics claims that are granted or extended to nonresidents are referred to as either cross-border claims. In the context of the consolidated banking statistics, local claims refer to claims of domestic banks’ foreign affiliates (branches/subsidiaries) on the residents of the host country (i.e. country of residence of affiliates). Items (A+L from BIS Table 9A). End-of-year data (i.e. December data) are considered for banks claims. GDP is from World Development Indicators.The indicator "Consolidated foreign claims of BIS reporting banks to GDP (%)" stands at 49.69 as of 12/31/2020, the highest value since 12/31/2011. Regarding the One-Year-Change of the series, the current value constitutes an increase of 24.53 percent compared to the value the year prior.The 1 year change in percent is 24.53.The 3 year change in percent is 27.47.The 5 year change in percent is 52.73.The 10 year change in percent is -1.43.The Serie's long term average value is 36.45. It's latest available value, on 12/31/2020, is 36.34 percent higher, compared to it's long term average value.The Serie's change in percent from it's minimum value, on 12/31/1983, to it's latest available value, on 12/31/2020, is +217.58%.The Serie's change in percent from it's maximum value, on 12/31/2007, to it's latest available value, on 12/31/2020, is -29.69%.

Australia GDP: USD: Adjusted Net National Income per Capita data was reported at 45,710.890 USD in 2021. This records an increase from the previous number of 40,036.446 USD for 2020. Australia GDP: USD: Adjusted Net National Income per Capita data is updated yearly, averaging 15,875.367 USD from Dec 1970 (Median) to 2021, with 52 observations. The data reached an all-time high of 53,871.555 USD in 2013 and a record low of 2,692.519 USD in 1970. Australia GDP: USD: Adjusted Net National Income per Capita 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: Nominal. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.;World Bank staff estimates based on sources and methods in World Bank's 'The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium' (2011).;Weighted average;

The average for 2022 based on 12 countries was -7.34 percent. The highest value was in Kiribati: 35.68 percent and the lowest value was in Palau: -60.03 percent. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.

Australia GDP: % of Manufacturing: Other Manufacturing data was reported at 52.285 % in 2022. This records an increase from the previous number of 49.031 % for 2021. Australia GDP: % of Manufacturing: Other Manufacturing data is updated yearly, averaging 49.358 % from Dec 1963 (Median) to 2022, with 34 observations. The data reached an all-time high of 54.051 % in 2011 and a record low of 45.352 % in 2010. Australia GDP: % of Manufacturing: Other Manufacturing 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. Other manufacturing, a residual, covers wood and related products (ISIC division 20), paper and related products (ISIC divisions 21 and 22), petroleum and related products (ISIC division 23), basic metals and mineral products (ISIC division27), fabricated metal products and professional goods (ISIC division 28), and other industries (ISIC divisions 25, 26, 31, 33, 36, and 37). Includes unallocated data. When data for textiles, machinery, or chemicals are shown as not available, they are included in other manufacturing.;United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.;;

Australia GDP: % of Manufacturing: Textiles and Clothing data was reported at 2.243 % in 2022. This records an increase from the previous number of 2.231 % for 2021. Australia GDP: % of Manufacturing: Textiles and Clothing data is updated yearly, averaging 7.458 % from Dec 1963 (Median) to 2022, with 34 observations. The data reached an all-time high of 11.696 % in 1963 and a record low of 2.165 % in 2020. Australia GDP: % of Manufacturing: Textiles and Clothing 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. Textiles and clothing correspond to ISIC divisions 17-19.;United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.;;

The average for 2024 based on 9 countries was 228.4 billion U.S. dollars. The highest value was in Australia: 1752.19 billion U.S. dollars and the lowest value was in Kiribati: 0.31 billion U.S. dollars. The indicator is available from 1960 to 2024. Below is a chart for all countries where data are available.