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

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.

Australia Gross Domestic Product (GDP): Value: 2015 Exchange Rates: USD data was reported at 2,197.536 USD bn in Dec 2025. This records an increase from the previous number of 2,171.223 USD bn for Sep 2025. Australia Gross Domestic Product (GDP): Value: 2015 Exchange Rates: USD data is updated quarterly, averaging 335.250 USD bn from Mar 1960 (Median) to Dec 2025, with 264 observations. The data reached an all-time high of 2,197.536 USD bn in Dec 2025 and a record low of 12.487 USD bn in Mar 1960. Australia Gross Domestic Product (GDP): Value: 2015 Exchange Rates: USD 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. GDP_USD - Gross domestic product, nominal value, constant exchange rates OECD calculation, see OECD Economic Outlook database documentation

Australia Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data was reported at 1,350.000 USD bn in 2021. This records an increase from the previous number of 1,290.000 USD bn for 2020. Australia Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: Single Hit Scenario data is updated yearly, averaging 567.000 USD bn from Dec 1960 (Median) to 2021, with 62 observations. The data reached an all-time high of 1,360.000 USD bn in 2019 and a record low of 189.000 USD bn in 1961. Australia Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD: 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 by Expenditure: Volume: Forecast: OECD Member: Annual. GDPV_USD-Gross domestic product, US $, volume, constant exchange rates, EO base yearExpenditure approach OECD calculation, see OECD Economic Outlook, Database Inventory OECD Economic Outlook, Database Inventory:https://www.oecd.org/eco/outlook/Database_Inventory.pdf

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 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.

Australia Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD data was reported at 1,544.034 USD bn in 2025. This records an increase from the previous number of 1,510.380 USD bn for 2024. Australia Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD data is updated yearly, averaging 589.786 USD bn from Dec 1960 (Median) to 2025, with 66 observations. The data reached an all-time high of 1,544.034 USD bn in 2025 and a record low of 188.187 USD bn in 1960. Australia Gross Domestic Product (GDP): Volume: 2015 Exchange Rates: USD 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: Volume: Forecast: OECD Member: Annual. GDPV_USD-Gross domestic product, US $, volume, constant exchange rates, EO base yearExpenditure approach OECD calculation, see OECD Economic Outlook database documentation

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.

Tables and data underlying all chapters and appendices included in 2015-16 Budget Paper Number 3 - Economic and Fiscal Outlook. Includes data from chapters as follows: Chapter 1: Overview Chapter 2: The Western Australian Economy Chapter 3: Financial Projections and Fiscal Strategy Chapter 4: General Government Revenue Chapter 5: General Government Expenses Chapter 6: Asset Investment Chapter 7: Royalties for Regions Appendix 1: Detailed Financial Projections Appendix 2: General Government Operating Revenue Appendix 3: 2014-15 General Government Operating Revenue Appendix 4: The Treasurer's Advance Appendix 5: Special Purpose Accounts Appendix 6: State Government Social Concessions Expenditure Statement Appendix 7: Asset Investment Program - Summary of Expenditure and Source of Funds Appendix 8: Public Corporations - Impact on General Government Revenue and Expenses Appendix 9: Tariffs, Fees and Charges Appendix 10: Tax and Royalty Expenditure Statement Appendix 11: Allocation of Asset Investment Program Efficiency Savings

Australia Ref. Year = 2015: Real Gross Domestic Product (GDP): Per Capita: PPP: USD data was reported at 0.000 USD bn in 2025. This records an increase from the previous number of 0.000 USD bn for 2024. Australia Ref. Year = 2015: Real Gross Domestic Product (GDP): Per Capita: PPP: USD data is updated yearly, averaging 0.000 USD bn from Dec 1960 (Median) to 2025, with 66 observations. The data reached an all-time high of 0.000 USD bn in 2025 and a record low of 0.000 USD bn in 1961. Australia Ref. Year = 2015: Real Gross Domestic Product (GDP): Per Capita: PPP: USD 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: Per Capita: Forecast: OECD Member: Annual. GDPVD_CAP - Gross domestic product per capital volume, at constant purchasing power parities 2015 PPPs OECD calculation, see OECD Economic Outlook database documentation

Australia DG ECFIN Forecast: GDP: 2015p: Imports: Services data was reported at 120.218 AUD bn in 2026. This records an increase from the previous number of 116.717 AUD bn for 2025. Australia DG ECFIN Forecast: GDP: 2015p: Imports: Services data is updated yearly, averaging 34.584 AUD bn from Dec 1971 (Median) to 2026, with 56 observations. The data reached an all-time high of 120.218 AUD bn in 2026 and a record low of 9.887 AUD bn in 1971. Australia DG ECFIN Forecast: GDP: 2015p: Imports: Services data remains active status in CEIC and is reported by European Commission's Directorate-General for Economic and Financial Affairs. The data is categorized under Global Database’s Australia – Table AU.DG ECFIN.AMECO: GDP: by Expenditure: 2015 Price: Forecast.

Australia GDP: 2015-16p data was reported at 1,692,092,000,000.000 AUD in 2017. This records an increase from the previous number of 1,659,604,000,000.000 AUD for 2016. Australia GDP: 2015-16p data is updated yearly, averaging 1,162,536,000,000.000 AUD from Jun 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 1,692,092,000,000.000 AUD in 2017 and a record low of 750,538,000,000.000 AUD in 1991. Australia GDP: 2015-16p 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. Rebased from 2015-16p to 2016-17p Replacement series ID: 410032597

This report contains ABARES' latest outlook to 2019-20 for Australia's major agricultural commodities. In addition, this publication includes articles titled Farm performance: broadacre and dairy farms, 2012-13 to 2014-15, Productivity in the broadacre and dairy industries, Profitability and productivity in Australia's beef industry and boxes titled Key agricultural outcomes of recent free trade agreements and Use and supply of barley in China.

A limited number of printed copies will be available by contacting info.abares@agriculture.gov.au

Key Issues Commodity outlook
• Export earnings from farm commodities are forecast to be about $40.5 billion in 2015-16 compared with a forecast $40.3 billion in 2014-15. • Agricultural commodities for which export earnings are forecast to rise in 2015-16 include wheat (up by 12 per cent), sugar (11 per cent), canola (10 per cent), dairy products (8 per cent) and beef and veal (2 per cent). These forecast increases are expected to be largely offset by forecast falls in export earnings for mutton (39 per cent), cotton (35 per cent), barley (11 per cent) and lamb (8 per cent). • At the end of the outlook period (2019-20), the value of farm exports is projected to be around $41.2 billion (in 2014-15 dollars), 9 per cent higher than the average over the five years to 2013-14. • The gross value of farm production is forecast to increase by 5.3 per cent to around $54.4 billion in 2015-16, following a forecast decrease of 2.9 per cent to $51.6 billion in 2013-14. • The gross value of livestock production is forecast to increase by around 5.6 per cent to $25.9 billion in 2015-16, following a forecast increase of 5.9 per cent in 2014-15. The gross value of crop production is forecast to increase by 5.1 per cent to $28.5 billion in 2015-16, after a forecast decrease of 9.6 per cent in 2013-14. • Export earnings for fisheries products are forecast to increase by 8 per cent to around $1.5 billion in 2015-16, after increasing by a forecast 3 per cent in 2014-15. • The outlook for agricultural commodities is based on the assumption that world economic activity will increase by 3.3 per cent in 2015, the same growth rate as in 2014. World economic growth is assumed to strengthen to 3.8 per cent in 2016, before easing gradually to 3.5 per cent towards 2020. • In Australia, economic activity is assumed to grow by 2.5 per cent in 2014-15, strengthening to 3.5 per cent by 2016-17. Toward 2019-20, economic growth is assumed to average around 3.2 per cent a year. • The Australian dollar is assumed to average around US76c in 2015-16, compared with an assumed average of US83c in 2014-15. It is assumed to average around US76c from 2015-16 to 2019-20.

Farm financial performance
• Using data from the most recent Australian Agricultural and Grazing Industries Survey (AAGIS), ABARES has made projections of average farm cash income for Australian broadacre farms in 2014-15. It is projected that average farm cash income will decline in Victoria, Western Australia, South Australia and New South Wales but increase in Queensland, the Northern Territory and Tasmania. • For Australia as a whole, the average farm cash income of Australian broadacre farms in 2014-15 is projected to be around $114 000 a farm, a fall of 9 per cent from an estimated $124 600 a farm in 2013-14. • It is projected that average farm cash income of dairy farms will decline from an average of $163 900 a farm in 2012-13 to an average of $97 000 a farm in 2014-15, reflecting lower farmgate milk prices. • Broadacre farm debt is estimated to have remained largely unchanged in 2013-14, averaging around $512 500 a farm at 30 June 2014.

Productivity in Australia's broadacre and dairy industries
• Productivity in the broadacre industries grew by 1.1 per cent a year on average between 1977-78 and 2012-13. • This broadacre productivity growth reflects a decline in the use of inputs (-1.0 per cent a year) while achieving modest output growth (0.1 per cent a year). • Dairy industry productivity grew at an annual average rate of 1.7 per cent between 1978-79 and 2012-13. This reflects strong output growth (1.3 per cent a year) and a small reduction in the use of inputs (-0.4 per cent a year).

Profitability and productivity in Australia's beef industry
• Average profitability in the beef industry has been low for many years. At the farm level, technological progress appears to be relatively slow. There is a large proportion of small, generally unprofitable farms that significantly reduce the average profitability per farm for the whole industry.

Australia GDP: Growth: Gross Value Added: Services data was reported at 3.140 % in 2016. This records an increase from the previous number of 2.757 % for 2015. Australia GDP: Growth: Gross Value Added: Services data is updated yearly, averaging 3.686 % from Jun 1976 (Median) to 2016, with 41 observations. The data reached an all-time high of 6.016 % in 1988 and a record low of -1.662 % in 1983. Australia GDP: Growth: Gross Value Added: Services 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 value added in services based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. 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 industrial 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.

Australia DG ECFIN Forecast: GDP: 2015p: Imports: Goods data was reported at 414.488 AUD bn in 2026. This records an increase from the previous number of 402.416 AUD bn for 2025. Australia DG ECFIN Forecast: GDP: 2015p: Imports: Goods data is updated yearly, averaging 100.075 AUD bn from Dec 1971 (Median) to 2026, with 56 observations. The data reached an all-time high of 414.488 AUD bn in 2026 and a record low of 17.644 AUD bn in 1971. Australia DG ECFIN Forecast: GDP: 2015p: Imports: Goods data remains active status in CEIC and is reported by European Commission's Directorate-General for Economic and Financial Affairs. The data is categorized under Global Database’s Australia – Table AU.DG ECFIN.AMECO: GDP: by Expenditure: 2015 Price: Forecast.

Australia DG ECFIN Forecast: GDP: 2015p: Exports: Goods data was reported at 289.785 AUD bn in 2026. This records an increase from the previous number of 282.717 AUD bn for 2025. Australia DG ECFIN Forecast: GDP: 2015p: Exports: Goods data is updated yearly, averaging 127.311 AUD bn from Dec 1971 (Median) to 2026, with 56 observations. The data reached an all-time high of 289.785 AUD bn in 2026 and a record low of 29.463 AUD bn in 1973. Australia DG ECFIN Forecast: GDP: 2015p: Exports: Goods data remains active status in CEIC and is reported by European Commission's Directorate-General for Economic and Financial Affairs. The data is categorized under Global Database’s Australia – Table AU.DG ECFIN.AMECO: GDP: by Expenditure: 2015 Price: Forecast.

Australia GDP: 2015-16p: Trend data was reported at 441,667.000 AUD mn in Jun 2018. This records an increase from the previous number of 437,778.000 AUD mn for Mar 2018. Australia GDP: 2015-16p: Trend data is updated quarterly, averaging 181,790.500 AUD mn from Sep 1959 (Median) to Jun 2018, with 236 observations. The data reached an all-time high of 441,667.000 AUD mn in Jun 2018 and a record low of 60,097.000 AUD mn in Sep 1959. Australia GDP: 2015-16p: Trend 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.A027: SNA08: Gross Domestic Product: by Expenditure: Chain Linked: 2015-16 Price: Trend. Rebased from 2015-16p to 2016-17p Replacement series ID: 410492067

Australia GDP: 2015-16p: Victoria data was reported at 399,009,000,000.000 AUD in 2017. This records an increase from the previous number of 386,140,000,000.000 AUD for 2016. Australia GDP: 2015-16p: Victoria data is updated yearly, averaging 282,169,500,000.000 AUD from Jun 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 399,009,000,000.000 AUD in 2017 and a record low of 180,534,000,000.000 AUD in 1992. Australia GDP: 2015-16p: Victoria 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: Growth data was reported at 3.442 % in 2023. This records a decrease from the previous number of 4.242 % for 2022. Australia GDP: Growth data is updated yearly, averaging 3.577 % from Dec 1961 (Median) to 2023, with 63 observations. The data reached an all-time high of 7.176 % in 1970 and a record low of -2.224 % in 1983. Australia GDP: Growth 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 percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;

Australia GDP: 2015-16p: Tasmania data was reported at 28,577,000,000.000 AUD in 2017. This records an increase from the previous number of 28,264,000,000.000 AUD for 2016. Australia GDP: 2015-16p: Tasmania data is updated yearly, averaging 22,123,500,000.000 AUD from Jun 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 28,577,000,000.000 AUD in 2017 and a record low of 16,402,000,000.000 AUD in 1990. Australia GDP: 2015-16p: Tasmania 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.