In 2023, agriculture contributed around 2.57 percent to the GDP of Australia, 27.65 percent came from industry, and 63.57 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.

In the financial year 2021, the mining industry in Australia accounted for almost ** percent of real gross value added to the economy. In the same fiscal year, the financial and insurance services reported around *** percent of real gross value added to the economy.

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 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.;;

Claims on other sectors of the domestic economy (annual growth as % of broad money) in Australia was reported at --0.1633 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Australia - Claims on other sectors of the domestic economy (annual growth as % of broad money) - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

Australia GDP: % of GDP: Gross Value Added: Industry: Manufacturing data was reported at 5.363 % in 2023. This records a decrease from the previous number of 5.375 % for 2022. Australia GDP: % of GDP: Gross Value Added: Industry: Manufacturing data is updated yearly, averaging 9.580 % from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 13.789 % in 1990 and a record low of 5.363 % in 2023. Australia GDP: % of GDP: Gross Value Added: Industry: 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. Manufacturing refers to industries belonging to ISIC divisions 15-37. 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 origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.;World Bank national accounts data, and OECD National Accounts data files.;Weighted average;Note: Data for OECD countries are based on ISIC, revision 4.

As of May 2022, approximately ** percent of people employed in the Australian workforce were working in the health care and social assistance industry. Other leading industries for employment were professional, scientific, and technical services, as well as retail trade.

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.;;

This dataset presents a range of data items sourced from a wide variety of collections, both Australian Bureau of Statistics (ABS) and non-ABS. The data is derived from the November 2024 release of Data by region. Individual data items present the latest reference year data available on Data by region. This layer presents data by Statistical Areas Level 2 (SA2), 2021.

The Economy and industry theme is based on groupings of data within Data by region. Concepts, sources and methods for each dataset can be found on the Data by region methodology page.

The Economy and industry theme includes:

Number of businesses Counts of Australian businesses, including entries and exits Building approvals Residential property prices Agricultural commodities Gross value of agricultural production Registered motor vehicles Industry of employment (Census)
Estimated dwelling stock

When analysing these statistics:

Time periods, definitions, methodologies, scope, and coverage can differ across collections.
Some data values have been randomly adjusted or suppressed to avoid the release of confidential data, this means

    some small cells have been randomly set to zero
    care should be taken when interpreting cells with small numbers or zeros.

Data and geography references

Source data publication: Data by region Geographic boundary information: Australian Statistical Geography Standard (ASGS) Edition 3 Further information: Data by region methodology, reference period 2011-24 Source: Australian Bureau of Statistics (ABS)

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Australia has 509 classes of industry. These classes are all cyclical at the macro and micro levels of our ANZSIC definition of industries.

Australia Production Volume by Major Mineral Commodity: Iron and Steel data was reported at 5,048.426 Metric Ton th in 2024. This records a decrease from the previous number of 5,630.125 Metric Ton th for 2023. Australia Production Volume by Major Mineral Commodity: Iron and Steel data is updated yearly, averaging 6,943.000 Metric Ton th from Jun 1990 (Median) to 2024, with 35 observations. The data reached an all-time high of 9,430.395 Metric Ton th in 2004 and a record low of 4,571.300 Metric Ton th in 2014. Australia Production Volume by Major Mineral Commodity: Iron and Steel data remains active status in CEIC and is reported by Department of Industry, Science and Resources. The data is categorized under Global Database’s Australia – Table AU.WB001: Production Volume.

Graph and download economic data for Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Manufacturing for Australia (AUSPROMANAISMEI) from 1975 to 2023 about Australia, production, and manufacturing.

IBISWorld's annual ranking of the Top 1,000 companies in Australia and New Zealand, based on their financial performance in 2024 or the latest available financial data.

The Top 100 Manufacturers list, based on companies’ financial performance in 2023, identifies key players in the sector and their strategies during recent economic volatility.

The average for 2023 based on 6 countries was 17.29 percent. The highest value was in Papua New Guinea: 36.29 percent and the lowest value was in Micronesia: 4.85 percent. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

This dataset presents data on economy and industry available from the ABS Data by Region statistics. This release of Data by Region presents various data for 2011-2019 and Census of Population and Housing data for 2011 and 2016 and is based on the Statistical Area 4 (SA4) 2016 boundaries. The dataset includes information in the following specified areas of economy and industry: Business Entries and Exists, Buildings Approvals, Residential Property Prices, Mean Household Net Worth, Patent and Trademark Applications, Insolvencies, Motor Vehicle Census, Tourist Accommodation Establishments, Agricultural Commodities, Gross Value of Agricultural Production and Industry of Employment.

Data by Region contains a standard set of data for each region type, depending on the availability of statistics for particular geographies. Data are sourced from a wide variety of collections, both ABS and non-ABS. When analysing these statistics, care needs to be taken as time periods, definitions, methodologies, scope and coverage can differ across collections. Where available, data have been presented as a time series - to enable users to assess changes over time. However, when looked at on a period to period basis, some series may sometimes appear volatile. When analysing the data, users are encouraged to consider the longer term behaviour of the series, where this extra information is available.

For more information please visit the Explanatory Notes.

AURIN has made the following changes to the original data:

• Spatially enabled the original data with the ABS Australian Statistical Geography Standard (ASGS) SA4 2016 dataset.

• Some data values in Data by Region have been randomly adjusted or suppressed to avoid the release of confidential details.

• Where data was not available, not available for publication, nil or rounded to zero in the original data, it has been set to null.

• Columns and rows that did not contain any values in the original data have been removed.

The Market Research and Statistical Services industry has performed poorly because of mixed demand across years for market research and related services. Industry revenue is anticipated to shrink at an annualised 1.3% over the five years through 2024-25, totalling $3.6 billion, with revenue falling by 1.5% in the current year. The overall revenue decrease can be attributed to mixed growth in prior years because of uncertainty and demand changes in response to the COVID-19 pandemic and ABS funding volatility. Industry revenue displays significant volatility from year to year, mainly because of fluctuations in ABS funding by the Federal Government. As the next census is set to occur in 2026, ABS revenue over the past two years has been constrained. Some companies that previously used industry businesses have been increasingly performing market research and statistical analysis in-house. Many external companies have improved their technology and data collection capabilities, which has made it more cost-effective to perform these activities internally. While the introduction of artificial intelligence has provided cost-cutting opportunities for market research businesses, it has also encouraged clients to bring industry services in-house, reducing demand. Profitability has also waned because of heightened price competition and wage costs increasing as a share of revenue. Ongoing growth in online media and big data presents both challenges and opportunities for market research businesses. Mounting demand for research and statistics relating to new media audience numbers and advertising effectiveness represents a potential opportunity. Even so, market research businesses will face challenges in developing effective measurement systems, and competition from information technology specialists that are developing similar systems will intensify. Despite these challenges, industry revenue is forecast to increase at an annualised 2.0% through 2029-30 to reach $3.9 billion.

Industry associations have faced mixed performance trends in recent years, shaped by shifting market dynamics and evolving member needs. Increased competition from alternative learning platforms, a growing preference for self-paced online education and reduced demand for traditional services like in-person training and certifications have all combined to drive declines in revenue across several associations. At the same time, many industry associations have diversified their income streams, moving beyond membership fees to rely more heavily on government grants, sponsorships and corporate partnerships. Industry associations tied to shrinking sectors, like agriculture, have struggled with lower member engagement and financial constraints because of challenges like fluctuating commodity prices and reliance on government support. Associations in high-growth sectors like technology and sustainability have fared better, benefiting from rising demand for specialised services. The industry's reliance on skilled personnel and high operational costs has limited the surplus available to reinvest in member services and digital transformation to enhance engagement. These factors have also contributed to a 2.9% annualised contraction expected in industry revenue over the five years through 2024-25, to $4.6 billion. This trend includes an anticipated recovery of 0.7% in 2024-25, driven by improving government grants, donations, sponsorships and fundraising and an increasing number of industry associations. Adapting to a changing landscape will allow industry associations room to grow again. Diversifying revenue streams and global expansion will be critical strategies for sustaining growth. Tiered membership models, digital platforms and innovative service offerings that align with members’ evolving needs will help associations attract and retain members. High-growth sectors, particularly technology, clean energy and sustainability, are set to drive membership growth and create demand for tailored services. Government grants and research and workforce development incentives will provide a financial buffer, enabling associations to support critical initiatives. However, associations tied to traditional sectors may face continued challenges, especially if economic volatility and environmental factors persist. Associations’ long-term success will depend on their ability to balance cost pressures, innovate service delivery and respond to broader market trends. Overall, industry revenue is forecast to grow 2.5% through the end of 2029-30 to $5.2 billion.

The average for 2023 based on 6 countries was 81.65 billion U.S. dollars. The highest value was in Australia: 477.82 billion U.S. dollars and the lowest value was in Micronesia: 0.02 billion U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.