Gross domestic product (GDP) of Australia 2024*

The statistic depicts Australia's gross domestic product (GDP) from 1984 to 2018, with projections up until 2024. In 2018, GDP in Australia amounted to about 1,420.05 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) in current prices from 1984 to 2024*

GDP in billion U.S. dollars
2024*1,670.17
2023*1,591.78
2022*1,513.75
2021*1,440.46
2020*1,375.45
2019*1,376.26
20181,420.05
20171,386.77
20161,267.75
20151,235.13
20141,457.49
20131,518.34
2012 1,569.11
2011 1,513.99
2010 1,251.72
2009 998.94
2008 1,055.57
2007 947.94
2006 781.14
2005 734.28
2004 656.52
2003 539.74
2002 424.36
2001 376.71
2000 399.13
1999 411.05
1998 380.6
1997 425.55
1996 423.55
1995 378.12
1994 352.57
1993 308.74
1992 317.47
1991 323.79
1990 323.38
1989 307.7
1988 270.58
1987 212.7
1986 181.14
1985 174.06
1984 196.77
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Source

Release date

October 2019

Region

Australia

Survey time period

1984 to 2018

Supplementary notes

* Estimate.

Values have been rounded to provide a better understanding of the statistic.

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Statistics on "Economic Outlook Australia"

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