Moderate forecasts show Australia's plant-based meat sector could contribute as much as 582 million Australian dollars to the economy in 2033. In the fiscal year 2023, the industry recorded an economic contribution of 45.8 million Australian dollars, including both direct and indirect value added contributions.

This forecast statistic shows the sales and services income of motor vehicle manufacture in Australia from 2010 to 2014, with forecasts up until 2020. By 2016, sales and services incomes of motor vehicle manufacture in Australia are projected to reach approximately 6.91 billion U.S. dollars.

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.

Australia GDP: Growth: Volume: Final Consumption Expenditure: Private: Single Hit Scenario data was reported at 2.422 % in Dec 2021. This records a decrease from the previous number of 2.830 % for Sep 2021. Australia GDP: Growth: Volume: Final Consumption Expenditure: Private: Single Hit Scenario data is updated quarterly, averaging 3.266 % from Mar 1961 (Median) to Dec 2021, with 244 observations. The data reached an all-time high of 49.090 % in Sep 2020 and a record low of -50.213 % in Jun 2020. Australia GDP: Growth: Volume: Final Consumption Expenditure: Private: Single Hit Scenario 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: Quarterly. CPV_ANNPCT - Private final consumption expenditure, volume, growth. Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

This forecast statistic shows the sales and services income of meat processing in Australia from 2010 to 2014, with forecasts up until 2020. By 2016, sales and services incomes of meat processing in Australia are projected to reach approximately 18.46 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.

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.

The benchmark interest rate in Australia was last recorded at 4.10 percent. This dataset provides - Australia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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

Unemployment Rate in Australia remained unchanged at 4.10 percent in February. This dataset provides - Australia Unemployment Rate at 5.8% in December - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 March, 2020, a survey of Australians during the novel coronavirus pandemic revealed that 78 percent of respondents believed that the economy would get worse in the next month. Only slightly fewer respondents believed the economy would decline in three months time and just under 50 percent believed it would not improve in one year's time, compared to 32 percent who expected it to get better.

In 2020, the economic contribution of the tech sector in Australia totaled 167 billion Australian dollars. The largest portion of this came from businesses in other sectors adopting technology. The size of the tech sector was forecast to increase to 250 billion Australian dollars by 2030.

Key information about Australia Real GDP Growth

• The Gross Domestic Product (GDP) in Australia expanded 2.7 % YoY in Dec 2022, following a growth of 5.9 % in the previous quarter.
• Real GDP Growth YoY data in Australia is updated quarterly, available from Sep 1960 to Dec 2022, with an average rate of 3.2 %.
• The data reached an all-time high of 10.3 % in Jun 2021 and a record low of -5.8 % in Jun 2020.

• In the latest reports, Nominal GDP of Australia reached 414.7 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 9.1 % in Dec 2022.
• GDP Per Capita in Australia reached 65,005.8 USD in Jun 2022.
• Its Gross Savings Rate was measured at 29.6 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 23.7 % in Dec 2022.
• Public Consumption accounted for 20.4 % in Dec 2022.
• Private Consumption accounted for 49.9 % in Dec 2022.

Australia General Government: % of GDP: Primary Balance data was reported at -0.886 % in Dec 2024. This records an increase from the previous number of -0.920 % for Sep 2024. Australia General Government: % of GDP: Primary Balance data is updated quarterly, averaging -0.489 % from Mar 1989 to Dec 2024, with 144 observations. The data reached an all-time high of 5.126 % in Sep 1999 and a record low of -20.898 % in Jun 2020. Australia General Government: % of GDP: Primary Balance 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: Government Accounts: % of GDP: Forecast: OECD Member: Quarterly. NLGXQ - General government primary balance, as a percentage of GDPGeneral government net lending excluding net interest payments OECD calculation, see OECD Economic Outlook, Database Inventory OECD Economic Outlook, Database Inventory: http://www.oecd.org/eco/outlook/Database_Inventory.pdf

In 2020, the GDP shrunk by 2.4 percent in Australia, and inflation was at an all-time low at 0.9 percent over the last 20 years. In 2021, the GDP is predicted to grow by 4.5 percent, and inflation to grow by 1.7 percent. According to the forecast, the Gross Domestic Product and inflation will grow weakly over the next five years in Australia.

Australia recorded a Government Debt to GDP of 43.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - Australia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Australia GDP: Growth: Single Hit Scenario data was reported at 3.522 % in Dec 2021. This records a decrease from the previous number of 3.590 % for Sep 2021. Australia GDP: Growth: Single Hit Scenario data is updated quarterly, averaging 7.568 % from Mar 1961 (Median) to Dec 2021, with 244 observations. The data reached an all-time high of 30.496 % in Sep 2020 and a record low of -39.274 % in Jun 2020. Australia GDP: Growth: Single Hit Scenario 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: Quarterly. GDP_ANNPCT - Gross domestic product, nominal value, growthExpenditure approach. Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

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.