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Australia GDP and Economic Data
Country Report 2017 - Includes Australia real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Australia economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Australia best banks and safest banks are also available.
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Gross Domestic Product - GDP
USD 1,418.3 billion (2018, estimate)
GDP (Purchasing Power Parity)
Intl$ 1,318.2 billion (2018, estimate)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 4.4% | 2.7% | 1.9% | 2.4% | 2.8% | 3.9% | 2.1% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| 2.6% | 2.5% | 2.8% | 2.4% | 2.8% |
*Estimate
GDP per capita - current prices
USD 56,351.6 (2018, estimate)
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GDP - composition by sector
- agriculture: 2.6%
- industry: 24%
- services: 66.6%
(2018 estimate)
Gross domestic expenditure on R&D; (% of GDP)
1.9% (2015)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 1.5% | 1.3% | 2% | 2% | 1.6% |
*Estimate
Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 6.1% | 5.7% | 5.6% | 5.3% | 5.1% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 37.7% | 40.5% | 41.1% | 41.4% | 41.8% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -2.8% | -2.5% | -1.7% | -0.8% | -0.7% |
*Estimate
Government bond ratings
Standard & Poor's: AAA
Moody's: Aaa
Standard & Poor's / Moody's (Updated January 2017)
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 1,268.5 billion | USD 1,508.5 billion | USD 1,262.8 billion |
Largest companies
Bendigo & Adelaide Bank, Sydney Airport, Lendlease Group, Bank of Queensland, Ramsay Health Care, Commonwealth Bank, Westpac Banking Group, BHP Group, ANZ, NAB - National Australia Bank, Macquarie Group, Telstra, Woolworths, Wesfarmers, Suncorp Group, CSL, Woodside Petroleum, QBE Insurance Group, Scentre Group, South32, Fortescue Metals Group, Origin Energy, Insurance Australia Group, AGL Energy, Amcor, Goodman Group, Qantas Airways, Transurban Group, Bluescope Steel, Santos, Brambles, Dexus, AMP, Caltex Australia, GPT Group, Viva Energy Group, Mirvac Group
Source
Source
Current account balance by percentage of GDP
-2.1 % (2018 estimate)
Exports as percent of GDP (Exports of goods and services)
21.7% (2018)
Shares in world total merchandising export
1.32% (2018)
Shares in world total commercial services export
1.18% (2018)
Export commodities
Iron ore, coal, gold, natural gas, beef, aluminum ores and conc, wheat, meat (excluding beef), wool, alumina, alcohol
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Import commodities
Motor vehicles, refined petroleum, telecommunication equipment and parts; crude petroleum, medicaments, goods vehicles, gold, computers
Exports - major partners
China 33.5%, Japan 14.6%, South Korea 6.6%, India 5%, Hong Kong 4% (2017)
Imports - major partners
China 22.9%, US 10.8%, Japan 7.5%, Thailand 5.1%, Germany 4.9%, South Korea 4.5% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 45,522 million | USD 42,294 million | USD 60,438 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 328 million | USD 3,320 million | USD 3,635 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 11,806 million | USD 9,489 million | USD 12,051 million | USD -627 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
Industry Funds Management Pty Ltd, ITR Concession Co LLC, United States, USD 5.7 billion / APA Group, QCLNG Pipeline Pty Ltd, Australia, USD 4.6 billion
(for a monthly update on M&A; click here )
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
14 out of 190 countries
Subcategories:
Starting a Business: 7 out of 190 countries
Dealing with Construction Permits: 11 out of 190 countries
Getting Electricity: 62 out of 190 countries
Registering Property: 42 out of 190 countries
Getting Credit: 4 out of 190 countries
Protecting Minority Investors: 57 out of 190 countries
Paying Taxes: 28 out of 190 countries
Trading across Borders: 106 out of 190 countries
Enforcing Contracts: 6 out of 190 countries
Resolving Insolvency: 20 out of 190 countries
Source
Global competitiveness ranking
16 out of 141 countries
Index of Economic Freedom
Ranking: 5 / Score: 80.9 (Free)
(100=totally free 0=totally repressed)
Source
Source
Government type
Federal parliamentary democracy under a constitutional monarchy; a Commonwealth realm
Languages
English 72.7%, Mandarin 2.5%, Arabic 1.4%, Cantonese 1.2%, Vietnamese 1.2%, Italian 1.2%, Greek 1%, other 14.8%, unspecified 6.5% (2016 est.)
Religions
Protestant 23.1% (Anglican 13.3%, Uniting Church 3.7%, Presbyterian and Reformed 2.3%, Baptist 1.5%, Pentecostal 1.1%, Lutheran .7%, other Protestant .5%), Roman Catholic 22.6%, other Christian 4.2%, Muslim 2.6%, Buddhist 2.4%, Orthodox 2.3% (Eastern Orthodox)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 17.17 million | 19.141 million | 22.17 million | 23.99 million | 25.98 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 81.5% | 85.6% | 84.2% | 86% |
Inequality of wealth distribution (Gini index)
35.8 (last available estimate, 2014)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 32.5% Mobile: 113.6% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)
Mercer Cost of living index
Sydney: 50th
Melbourne: 79th
Perth: 87th
Canberra: 96th
Brisbane: 103rd
Adelaide: 109th
(2019)
Source
World's Best Developed & Emerging Markets Banks
World's Best Global Banks
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Best Risk Management Providers - Insurance & Derivatives
World's Best Internet Banks
2013
2012
2009
World’s Best Treasury & Cash Management Providers
World's Best Supply Chain Finance Providers
World's Best Subcustodian Banks
2013
World’s Best Investment Banks
2013
2012
2011
2010
2009
World's Safest
2013
2012
World’s Best Foreign Exchange Providers
2010
2009
World's Best Banks By Region
2011
World's Best Banks
2013
World’s Best Trade Finance Banks
2010
Best of…
2012
2004
2003
World's Biggest Banks
Additional Awards
2014
2012
- Stars of China 2012: Corporate Winners
- Awards: World’s Safest Banks 2012
- Awards: Risk Management Providers 2012
- Project Finance and Infrastructure Providers 2012: Global Winners
- The Winners’ Circle: Central Banker Report Cards
- Project Finance and Infrastructure Providers 2012: Regional Winners
- Global Risk Management Providers 2012: Learning To Like Vanilla
- Winners’ Circle: Safest/Biggest Banks
- Awards: Project Finance & Infrastructure