The Gross Domestic Product (GDP) in Australia expanded 2.30 percent in the first quarter of 2023 over the same quarter of the previous year. source: Australian Bureau of Statistics

GDP Annual Growth Rate in Australia averaged 3.38 percent from 1960 until 2023, reaching an all time high of 10.30 percent in the second quarter of 2021 and a record low of -5.80 percent in the second quarter of 2020. This page provides - Australia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

GDP Annual Growth Rate in Australia is expected to be 1.10 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 0.90 percent in 2024 and 1.70 percent in 2025, according to our econometric models.

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Australia GDP Annual Growth Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-03-01 12:30 AM Q4 2.7% 5.9% 2.7% 2.7%
2023-06-07 01:30 AM Q1 2.3% 2.7% 2.4% 2.4%
2023-09-06 01:30 AM Q2 2.3% 1.5%


Related Last Previous Unit Reference
GDP Growth Rate 0.20 0.60 percent Mar 2023
GDP Annual Growth Rate 2.30 2.70 percent Mar 2023
GDP Constant Prices 557113.00 555817.00 AUD Million Mar 2023
Gross National Product 548794.00 544486.00 AUD Million Mar 2023
Gross Fixed Capital Formation 125700.00 123532.00 AUD Million Mar 2023
GDP from Utilities 11708.00 11535.00 AUD Million Mar 2023
GDP from Public Administration 28806.00 28567.00 AUD Million Mar 2023
GDP from Mining 58052.00 58249.00 AUD Million Mar 2023
GDP from Manufacturing 29581.00 28895.00 AUD Million Mar 2023
GDP from Construction 39422.00 39360.00 AUD Million Mar 2023
GDP from Agriculture 14232.00 14254.00 AUD Million Mar 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
2.30 2.70 10.30 -5.80 1960 - 2023 percent Quarterly
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