Australia: Economic growth forecast: The latest value from 2030 is 2.27 percent, a decline from 2.29 percent in 2029. In comparison, the world average is 3.25 percent, based on data from 182 countries. Historically, the average for Australia from 1980 to 2030 is 2.91 percent. The minimum value, -1.96 percent, was reached in 2020 while the maximum of 6.35 percent was recorded in 1984.

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 (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.

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.

FocusEconomics' economic data is provided by official state statistical reporting agencies as well as our global network of leading banks, think tanks and consultancies. Our datasets provide not only historical data, but also Consensus Forecasts and individual forecasts from the aformentioned global network of economic analysts. This includes the latest forecasts as well as historical forecasts going back to 2010. Our global network consists of over 1000 world-renowned economic analysts from which we calculate our Consensus Forecasts. In this specific dataset you will find economic data for Australia.

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.

Leading Economic Index Australia decreased 0.10 percent in May of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Australia Leading Economic Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Gross Domestic Product (GDP) in Australia expanded 1.30 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides - Australia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Australia GDP: Net Exports of Goods and Services data was reported at 36.943 AUD bn in Dec 2026. This records an increase from the previous number of 36.460 AUD bn for Sep 2026. Australia GDP: Net Exports of Goods and Services data is updated quarterly, averaging -0.693 AUD bn from Mar 1960 (Median) to Dec 2026, with 268 observations. The data reached an all-time high of 174.717 AUD bn in Jun 2022 and a record low of -45.662 AUD bn in Dec 2015. Australia GDP: Net Exports of Goods and Services 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 by Expenditure: Forecast: OECD Member: Quarterly. FBGS - Net exports of goods and services, nominal value (national accounts basis) OECD calculation, see OECD Economic Outlook database documentation

Australia GDP: Growth: Volume: Final Consumption Expenditure: Government data was reported at 2.167 % in 2026. This records a decrease from the previous number of 2.267 % for 2025. Australia GDP: Growth: Volume: Final Consumption Expenditure: Government data is updated yearly, averaging 3.889 % from Dec 1961 (Median) to 2026, with 66 observations. The data reached an all-time high of 10.968 % in 1965 and a record low of -0.160 % in 1982. Australia GDP: Growth: Volume: Final Consumption Expenditure: Government 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: Growth and Contribution to Growth: Forecast: OECD Member: Annual. CGV_ANNPCT - Government final consumption expenditure, volume, growth. Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

GDP from Utilities in Australia increased to 13042 AUD Million in the first quarter of 2025 from 12973 AUD Million in the fourth quarter of 2024. This dataset provides - Australia Gdp From Utilities- actual values, historical data, forecast, chart, statistics, economic calendar and news.

This forecast statistic shows the sales and services income of rigid and semi rigid polymer product manufacture in Australia from 2010 to 2014, with forecasts up until 2020. By 2016, sales and services incomes of rigid and semi rigid polymer product manufacture in Australia are projected to reach approximately 3.81 billion U.S. dollars.

GDP from Public Administration in Australia increased to 33728 AUD Million in the fourth quarter of 2024 from 33427 AUD Million in the third quarter of 2024. This dataset provides - Australia Gdp From Public Administration- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Australia Potential Output of Total Economy: Volume data was reported at 2,584.012 AUD bn in 2026. This records an increase from the previous number of 2,528.192 AUD bn for 2025. Australia Potential Output of Total Economy: Volume data is updated yearly, averaging 1,542.904 AUD bn from Dec 1985 (Median) to 2026, with 42 observations. The data reached an all-time high of 2,584.012 AUD bn in 2026 and a record low of 778.928 AUD bn in 1985. Australia Potential Output of Total Economy: Volume 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. GDPVTR-Potential output of total economy, volume OECD calculation, see OECD Economic Outlook database documentation

RBA Forecast: GDP: Growth: Year Ended: High data was reported at 2.200 % in Jun 2027. This records a decrease from the previous number of 2.300 % for Dec 2026. RBA Forecast: GDP: Growth: Year Ended: High data is updated semiannually, averaging 2.500 % from Dec 2007 (Median) to Jun 2027, with 40 observations. The data reached an all-time high of 9.500 % in Jun 2021 and a record low of -6.000 % in Jun 2020. RBA Forecast: GDP: Growth: Year Ended: High data remains active status in CEIC and is reported by Reserve Bank of Australia. The data is categorized under Global Database’s Australia – Table AU.A339: SNA08: Gross Domestic Product: Forecast: Reserve Bank of Australia.

This forecast statistic shows the sales and services income of petroleum refining and fuel manufacture in Australia from 2010 to 2014, with forecasts up until 2020. By 2016, sales and services incomes of petroleum refining and fuel manufacture in Australia are projected to reach approximately 12.82 billion U.S. dollars.

Key information about Australia Nominal GDP Growth

• Australia Nominal GDP Growth was reported at 3.708 % in Dec 2024.
• This records an increase from the previous number of 3.512 % for Sep 2024.
• Australia Nominal GDP Growth data is updated quarterly, averaging 7.887 % from Sep 1960 to Dec 2024, with 258 observations.
• The data reached an all-time high of 23.811 % in Dec 1973 and a record low of -5.734 % in Jun 2020.
• Australia Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

Forecast: Tourism GDP in Australia 2024 - 2028 Discover more data with ReportLinker!

Inflation Rate in Australia remained unchanged at 2.40 percent in the first quarter of 2025 from 2.40 percent in the fourth quarter of 2024. This dataset provides the latest reported value for - Australia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.