The Gross Domestic Product (GDP) in Australia expanded 1.50 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Australia averaged 3.37 percent from 1960 until 2023, reaching an all time high of 10.60 percent in the second quarter of 2021 and a record low of -6.10 percent in the second quarter of 2020. source: Australian Bureau of Statistics

GDP Annual Growth Rate in Australia is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia GDP Annual Growth Rate is projected to trend around 2.00 percent in 2025 and 2.20 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-12-06 12:30 AM
GDP Growth Rate YoY
Q3 2.1% 2.0% 1.8% 1.8%
2024-03-06 12:30 AM
GDP Growth Rate YoY
Q4 1.5% 2.1% 1.4% 1.5%
2024-06-05 01:30 AM
GDP Growth Rate YoY
Q1 1.5% 1.2%


Related Last Previous Unit Reference
GDP Growth Rate YoY 1.50 2.10 percent Dec 2023
GDP Constant Prices 609750.00 608293.00 AUD Million Dec 2023
GDP from Agriculture 16563.00 17148.00 AUD Million Dec 2023
GDP from Construction 40771.00 40516.00 AUD Million Dec 2023
GDP from Manufacturing 30781.00 31154.00 AUD Million Dec 2023
GDP from Mining 80564.00 79775.00 AUD Million Dec 2023
GDP from Public Administration 31024.00 30717.00 AUD Million Dec 2023
GDP from Utilities 11351.00 11247.00 AUD Million Dec 2023
GDP Growth Rate 0.20 0.30 percent Dec 2023
GDP Capital Expenditure 144342.00 144675.00 AUD Million Dec 2023
Gross National Product 583409.00 576668.00 AUD Million Dec 2023

Australia GDP Annual Growth Rate
Australia's economy is dominated by the service sector (65 percent of total GDP). Yet its economic success in recent years has been based on the mining (13.5 percent of GDP) and agriculture (2 percent of GDP) as the country is a major exporter of commodities. Other sectors include: manufacturing (11 percent) and construction (9.5 percent). .
Actual Previous Highest Lowest Dates Unit Frequency
1.50 2.10 10.60 -6.10 1960 - 2023 percent Quarterly
SA