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.

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.

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: Gross Value Added: Industry: Manufacturing data was reported at 0.159 % in 2023. This records a decrease from the previous number of 2.442 % for 2022. Australia GDP: Growth: Gross Value Added: Industry: Manufacturing data is updated yearly, averaging 1.515 % from Dec 1976 (Median) to 2023, with 48 observations. The data reached an all-time high of 6.669 % in 1988 and a record low of -8.225 % in 1983. Australia GDP: Growth: 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: Annual Growth Rate. Annual growth rate for manufacturing value added based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Manufacturing refers to industries belonging to ISIC divisions 10-33. 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 4.;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 December 2024, the gross value added (GVA) by the coal mining industry in Australia amounted to about 106 billion Australian dollars. This figure represents an increase from the previous year. Coal mining economic contribution Employment in the coal mining industry has declined over the past decade, but saw a rise again in 2023. Tens of thousands of people are still included in the coal mining workforce. Australia is one of the world’s largest exporters of coal. With China being the largest coal consuming country in the world, recent tensions have cast uncertainty on trade relations, including the export of Australian coal. Coal mining companies UK-Australian based BHP and Rio Tinto were among the leading mining companies worldwide. These multinational companies have a diverse mining portfolio that includes Australian coal. This comes as no surprise, as Australia has coal reserves totaling almost 150 billion metric tons.

Techsalerator’s Import/Export Trade Data for Oceania

Techsalerator’s Import/Export Trade Data for Oceania provides a thorough and detailed examination of trade activities across the Oceania region. This expansive dataset offers deep insights into import and export transactions involving companies throughout Oceania, covering a diverse range of countries and territories.

Coverage Across All Oceania Countries

The dataset encompasses all key countries and territories within Oceania, including:

Australia and New Zealand:

Australia

Detailed trade data for Australia, including extensive records on import and export transactions, key trading partners, product categories, and economic sectors. New Zealand

Comprehensive data for New Zealand covering its trade activities, including detailed records on exports and imports, major product classifications, and trade relationships. Pacific Island Nations:

Fiji

Trade data for Fiji includes information on its export and import activities, key sectors, and trade dynamics with both regional and global partners. Papua New Guinea

Detailed records on trade transactions for Papua New Guinea, including product descriptions, quantities, values, and trade relationships with major partners. Solomon Islands

Comprehensive trade data covering the Solomon Islands, with insights into its import and export activities and key trading partners. Vanuatu

Data on Vanuatu’s trade flows, including detailed information on its import and export transactions and trade dynamics. Other Pacific Island Nations:

Samoa

Trade data for Samoa includes details on import and export transactions, product categories, and trade relationships. Tonga

Comprehensive data on Tonga’s trade activities, including detailed transaction records and sector-specific trade information. Tuvalu

Detailed trade data for Tuvalu, covering import and export activities, major products, and trade dynamics. Nauru

Trade records for Nauru include detailed insights into import and export transactions and key trading relationships. Kiribati

Data on Kiribati’s trade activities, including import and export details, product classifications, and trading partners. Marshall Islands

Trade data for the Marshall Islands, covering import and export transactions and sector-specific insights. Palau

Comprehensive records on trade for Palau, including detailed import and export information and trade relationships. Federated States of Micronesia

Data on trade activities for the Federated States of Micronesia, including import and export details and major trade partners. Comprehensive Data Features

Transaction Details: The dataset provides granular information on each trade transaction, such as product descriptions, quantities, values, and transaction dates, allowing for precise tracking and analysis of trade flows.

Company Information: Includes details about the companies involved in trade, such as company names, locations, and industry sectors, facilitating targeted market research and business intelligence.

Categorization: Transactions are categorized by industry sectors, product types, and trade partners, offering insights into market dynamics and sector-specific trends within Oceania.

Trade Trends: Historical data allows users to analyze trade trends, identify emerging markets, and understand the impact of economic or political events on trade patterns in the region.

Geographical Insights: Provides insights into regional trade flows and cross-border dynamics between Oceania’s countries and their global trade partners, including significant international trade relationships.

Regulatory and Compliance Data: Includes information on trade regulations, tariffs, and compliance requirements, helping businesses navigate the complex regulatory environments within Oceania.

Applications and Benefits

Market Research: Businesses can use the data to discover new market opportunities, analyze competitive landscapes, and understand consumer demand across various Oceania countries and territories.

Strategic Planning: Insights from the data enable companies to develop more effective trade strategies, optimize supply chains, and manage risks associated with international trade in Oceania.

Economic Analysis: Analysts and policymakers can monitor economic performance, evaluate trade balances, and make informed decisions on trade policies and economic development initiatives.

Investment Decisions: Investors can assess trade trends and market potentials to make informed decisions about investments in Oceania’s diverse economies.

Techsalerator’s Import/Export Trade Data for Oceania is an essential resource for organizations involved in international trade, offering a detailed, reliable, and expansive view of trade activities across the Oceania region.

Graph and download economic data for Infra-Annual Labor Statistics: Employment: Economic Activity: Industry (Except Construction): Total for Australia (LFEAINTTAUQ647N) from Q1 1985 to Q4 2024 about Australia, construction, employment, and industry.

Graph and download economic data for Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Industry (Except Construction) for Australia (AUSPROINDQISMEI) from Q3 1974 to Q4 2023 about Australia, IP, and indexes.

Graph and download economic data for Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Industry (Except Construction) for Australia (AUSPROINDAISMEI) from 1975 to 2023 about Australia, IP, and indexes.

Australia Export Volume by Major Mineral Commodity: Iron Ore and Pellet data was reported at 898.364 Metric Ton mn in 2024. This records an increase from the previous number of 894.539 Metric Ton mn for 2023. Australia Export Volume by Major Mineral Commodity: Iron Ore and Pellet data is updated yearly, averaging 257.365 Metric Ton mn from Jun 1990 (Median) to 2024, with 35 observations. The data reached an all-time high of 898.364 Metric Ton mn in 2024 and a record low of 98.577 Metric Ton mn in 1990. Australia Export Volume by Major Mineral Commodity: Iron Ore and Pellet 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.WB003: Export Volume.

Graph and download economic data for Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Industry (Except Construction) for Australia (PRINTO01AUQ661N) from Q3 1974 to Q4 2023 about Australia, IP, and construction.

In the financial year 2021, the mining industry in Australia accounted for almost 11 percent of real gross value added to the economy. In the same fiscal year, the financial and insurance services reported around 9.3 percent of real gross value added to the economy.

Australia Export Volume by Major Mineral Commodity: Bauxite: 3 mth data was reported at 12,243.987 Metric Ton th in Sep 2024. This records an increase from the previous number of 11,123.848 Metric Ton th for Jun 2024. Australia Export Volume by Major Mineral Commodity: Bauxite: 3 mth data is updated quarterly, averaging 1,843.265 Metric Ton th from Sep 1988 (Median) to Sep 2024, with 145 observations. The data reached an all-time high of 12,243.987 Metric Ton th in Sep 2024 and a record low of 619.500 Metric Ton th in Dec 1993. Australia Export Volume by Major Mineral Commodity: Bauxite: 3 mth 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.WB003: Export Volume.

Graph and download economic data for Benchmarked Unit Labor Costs - Industry for Australia (DISCONTINUED) (ULQBBU03AUQ661S) from Q3 1983 to Q3 2011 about unit labor cost, Australia, labor, and industry.

Australia Export Value by Major Mineral Commodity: Aluminum, Ingot Metal: 3 mth data was reported at 1,375.339 AUD mn in Sep 2024. This records an increase from the previous number of 1,291.013 AUD mn for Jun 2024. Australia Export Value by Major Mineral Commodity: Aluminum, Ingot Metal: 3 mth data is updated quarterly, averaging 892.267 AUD mn from Sep 1988 (Median) to Sep 2024, with 145 observations. The data reached an all-time high of 1,601.072 AUD mn in Jun 2022 and a record low of 347.088 AUD mn in Mar 1992. Australia Export Value by Major Mineral Commodity: Aluminum, Ingot Metal: 3 mth 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.WB005: Export Value.

Exports in Australia increased to 44027 AUD Million in December from 43556 AUD Million in November of 2024. This dataset provides the latest reported value for - Australia Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Australia Export Volume by Major Mineral Commodity: Gold: 3 mth data was reported at 50.857 Metric Ton in Sep 2024. This records a decrease from the previous number of 63.313 Metric Ton for Jun 2024. Australia Export Volume by Major Mineral Commodity: Gold: 3 mth data is updated quarterly, averaging 76.209 Metric Ton from Sep 1988 (Median) to Sep 2024, with 145 observations. The data reached an all-time high of 133.200 Metric Ton in Sep 1998 and a record low of 30.346 Metric Ton in Dec 1988. Australia Export Volume by Major Mineral Commodity: Gold: 3 mth 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.WB003: Export Volume. Metallic content of all ores, concentrates, intermediate products (where applicable) and refined metal.

Graph and download economic data for Infra-Annual Labor Statistics: Employment: Economic Activity: Industry (Including Construction): Total for Australia (LFEAICTTAUA647S) from 1964 to 2024 about Australia, construction, employment, and industry.

Graph and download economic data for Production: Industry: Total Industry Excluding Construction for Australia (PRINTO01AUQ189S) from Q3 1974 to Q3 2023 about Australia, IP, and construction.

The gross value added (GVA) by the accommodation sector to tourism in Australia amounted to over 10.1 billion Australian dollars in the year ended June 2024. That year, the accommodation and food service sector, as well as the air, water, and other transport sector, drove most of the growth in tourism GVA.