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.

Australia Output Gap of Total Economy data was reported at -0.772 % in 2026. This records an increase from the previous number of -1.101 % for 2025. Australia Output Gap of Total Economy data is updated yearly, averaging 0.115 % from Dec 1985 (Median) to 2026, with 42 observations. The data reached an all-time high of 2.270 % in 1989 and a record low of -4.027 % in 2020. Australia Output Gap of Total Economy data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Australia – Table AU.OECD.EO: GDP: Potential Output and Output Gap: Forecast: OECD Member: Annual. GAP - Output gap, as a percentage of potential GDP OECD calculation, see OECD Economic Outlook database documentation

The statistic shows the growth rate of Australia’s real GDP from 2019 to 2023, with projections up until 2029. In 2023, GDP in Australia grew by about 2.06 percent on the previous year.

The recession-proof land down under

GDP 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 table contains a summary of Australia's key economic indicators.

Australia GDP: Northern Territory data was reported at 33,132.000 AUD mn in 2024. This records an increase from the previous number of 33,059.000 AUD mn for 2023. Australia GDP: Northern Territory data is updated yearly, averaging 14,559.000 AUD mn from Jun 1990 (Median) to 2024, with 35 observations. The data reached an all-time high of 33,132.000 AUD mn in 2024 and a record low of 4,269.000 AUD mn in 1990. Australia GDP: Northern Territory 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.

GDP Nowcast: Australia: Current Quarter data was reported at 1.329 % in 14 Feb 2025. This records a decrease from the previous number of 1.333 % for 06 Feb 2025. GDP Nowcast: Australia: Current Quarter data is updated daily, averaging 0.996 % from Mar 2024 (Median) to 14 Feb 2025, with 119 observations. The data reached an all-time high of 1.827 % in 23 Mar 2024 and a record low of 0.447 % in 08 Dec 2024. GDP Nowcast: Australia: Current Quarter data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Australia – Table AU.CEIC.GDPNC: Gross Domestic Product: Nowcast.

Graph and download economic data for Current Account Balance: Total Trade of Goods for Australia (DISCONTINUED) (BPBLTD01AUQ637S) from Q3 1959 to Q4 2013 about current account, BOP, Australia, trade, and goods.

Graph and download economic data for Current Account Balance: Total Transfers for Australia (DISCONTINUED) (BPBLTF01AUA636N) from 1960 to 2013 about transfers, current account, BOP, and Australia.

Graph and download economic data for Current Account Balance: Total Services for Australia (DISCONTINUED) (BPBLSE01AUQ636N) from Q3 1959 to Q4 2013 about current account, BOP, Australia, and services.

Australia recorded a trade surplus of 5085 AUD Million in December of 2024. This dataset provides the latest reported value for - Australia Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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.

Contains data from the World Bank's data portal covering the following topics which also exist as individual datasets on HDX: Agriculture and Rural Development, Aid Effectiveness, Economy and Growth, Education, Energy and Mining, Environment, Financial Sector, Health, Infrastructure, Social Protection and Labor, Poverty, Private Sector, Public Sector, Science and Technology, Social Development, Urban Development, Gender, Millenium development goals, Climate Change, External Debt, Trade.

GDP: Western Australia data was reported at 455,707.000 AUD mn in 2024. This records an increase from the previous number of 446,066.000 AUD mn for 2023. GDP: Western Australia data is updated yearly, averaging 143,237.000 AUD mn from Jun 1990 (Median) to 2024, with 35 observations. The data reached an all-time high of 455,707.000 AUD mn in 2024 and a record low of 39,451.000 AUD mn in 1990. GDP: Western 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.

The statistic shows the inflation rate in Australia from 1987 to 2022, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2022, the average inflation rate in Australia was at about 6.61 percent compared to the previous year.

Australia's economy

Australia has one of the world’s largest economies and is a significant global importer and exporter. It is also labeled as one of the G20 countries, also known as the Group of Twenty, which consists of 20 major economies around the globe. The Australian economy is highly dependent on its mining sector as well as its agricultural sector in order to grow, and it exports the majority of these goods to eastern Asian countries, most prominently China. Large quantities of exports have helped Australia maintain a stable economy and furthered economic expansion, despite being affected by several economic obstacles.

Australia’s GDP has seen a significant increase over the past decade, more than doubling its value, and experienced a rather quick recovery from the 2008 financial crisis, which indicates that the country experienced economic growth as well as higher productivity. One of the primary reasons is the further development of the nation’s mining industry coupled with the expansion and success of many Australian mining companies.

Abstract

This dataset and its metadata statement were supplied to the Bioregional Assessment Programme by a third party and are presented here as originally supplied.

These data represent the OZMIN Oracle relational database containing geological and resource information for Australian mineral deposits. OZMIN has been compiled from published references and has been designed so that attribute information can be retrieved and analysed in relation to spatial data contained in geographic information systems. The national mineral deposits dataset contains data on over one thousand major and historically significant mineral deposits for 60 mineral commodities (including coal). Data available via mapping interfaces on the Geoscience Australia website are updated weekly whilst data available via download are a snapshot at the "Ending Date" of the current database entries.

Full Metadata available at: http://www.ga.gov.au/meta/ANZCW0703003393.html

Dataset History

The data within this dataset is derived directly from the corporate ORACLE OZMIN Mineral Deposits database.

An ASCII extraction of the Geoscience Australia ORACLE database is generated as ASCII comma-delimited files for each table that is part of or used by the OZMIN database. Only data that is part of the current release of OZMIN (Release 3 - October 2000) is included.

An MS ACCESS database format is also replicated from the ORACLE database and uses the same table structure. Only data that is part of the current release of OZMIN (Release 3 - October 2000) is included.

The spatial representation of this database in (ArcView and MapInfo format) is extracted and generated using ArcInfo GIS software to meet the published data standard within the Geoscience Australia data dictionary. The extraction of the spatial GIS datasets is done within ArcInfo using advanced AML code (ORACOV.AML) developed by Dmitar Butrovski, Geoscience Australia.

Further information can be found at http://www.ga.gov.au/metadata-gateway/metadata/record/gcat_a05f7892-b68d-7506-e044-00144fdd4fa6/OZMIN+Mineral+Deposits+Database

Dataset Citation

Geoscience Australia (2013) OZMIN Mineral Deposits Database. Bioregional Assessment Source Dataset. Viewed 12 December 2018, http://data.bioregionalassessments.gov.au/dataset/34247a24-d3cf-4a98-bb9d-81671ddb99de.

Through Commonwealth and State/Territory government partnerships, the National Location Information (NLI) Branch implements cutting-edge approaches to integrate and deliver data, services and analytical capability to the public, Government and critical industries. This DGAL will present examples of NLI’s work - work central to the Australian Government’s ambitious Digital Economy Strategy to make Australia a leading global digital economy by 2030, along with the Australian Data Strategy, to ensure government data is in the ‘best state’ to feed this future digital economy. Specifically, the talk will cover: The Digital Atlas of Australia Improving geospatial data and services discovery, share and access The Australian low-water coastline Bringing historic aerial imagery archive back to life ELVIS portal – creating sustainable access through collaboration

This report examines three potential outlook scenarios for Australia's forestry sector using analysis of the potential availability and use of logs, forecasts of wood product consumption, and the opportunities for processing of wood products and investment.

ABARES conducted a number of workshops with industry and government stakeholders to refine the scenarios and test the assumptions supporting this analysis. A business-as-usual scenario was analysed, which depicts a future assuming current economic, policy and environmental factors affecting the forestry sector remain unchanged over the projection period (to 2050). Two alternative scenarios (priority-to-productivity and constrained-wood-production) are also examined. Sensitivity testing was also conducted to identify the influence of key parameters.

The analysis in this report highlights some key opportunities for Australia's forestry sector, as well as the economic and policy factors required for realising these opportunities. The results affirm that a positive investment environment for upgrading and expanding wood processing infrastructure will underpin growth in Australia's forestry sector.

Business entries to financial year end.Data provided from Australian Bureau of Statistics http://stat.data.abs.gov.au/Index.aspx?DataSetCode=ABS_REGIONAL_LGA2018

The 2018-19 Budget, including related papers such as the Portfolio Additional Estimates Statements (PAES), is officially available at http://www.budget.gov.au.

The PAES inform Parliament of changes to the proposed allocation of resources since the 2018-19 Budget. The PAES, annual Appropriation Bills (Nos. 3 and 4) and Appropriation (Parliamentary Departments) Bill (No. 2) are tabled in Parliament usually in mid-February each year.

The annual Appropriation Bills (Nos. 3 and 4) and Appropriation (Parliamentary Departments) Bill (No. 2) require that the Portfolio Budget Statements and PAES be taken into account when interpreting the appropriated items in the Schedules. Please note that not all portfolios prepare a PAES. Only those entities that are seeking additional funding for through Appropriation Bills (Nos. 3 and 4) are required to produce a PAES. The PAES incorporate measures announced since the 2018-19 Budget, including those announced in the Mid-Year Economic and Fiscal Outlook (MYEFO).

The data for the 2018-19 PAES has been made available to assist those who wish to analyse the financial information published in the PAES. Footnotes have also been included as published in the files to assist in interpreting the data.