Gross domestic product (GDP) in Australia
Australia: Gross domestic product (GDP) was 2.99 trillion Domestic currency in 2027. ◆ Volatile
Gross domestic product (GDP) in Australia, 1960–2027
Source: International Monetary Fund. Measured in Domestic currency.
Analysis
The most recent figure for gross domestic product (gdp) in Australia is 2.99 trillion Domestic currency, measured in 2027. That is the highest value across all 68 years on record.
That represents a change of up 4.8% on the previous year and up 65.8% over ten years.
Over the whole period, gross domestic product (gdp) in Australia peaked at 2.99 trillion Domestic currency in 2027 and was at its lowest, 17.17 billion Domestic currency, in 1960.
Australia ranks 42nd of 86 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP) in Australia, year by year
| Year | Domestic currency | Change |
|---|---|---|
| 1960 | 17.17 billion Domestic currency | — |
| 1961 | 17.27 billion Domestic currency | +0.6% |
| 1962 | 18.58 billion Domestic currency | +7.6% |
| 1963 | 20.38 billion Domestic currency | +9.7% |
| 1964 | 22.38 billion Domestic currency | +9.8% |
| 1965 | 24.23 billion Domestic currency | +8.2% |
| 1966 | 25.84 billion Domestic currency | +6.6% |
| 1967 | 28.23 billion Domestic currency | +9.3% |
| 1968 | 31.01 billion Domestic currency | +9.9% |
| 1969 | 34.66 billion Domestic currency | +11.8% |
| 1970 | 38.46 billion Domestic currency | +10.9% |
| 1971 | 42.47 billion Domestic currency | +10.4% |
| 1972 | 46.33 billion Domestic currency | +9.1% |
| 1973 | 54.87 billion Domestic currency | +18.4% |
| 1974 | 65.48 billion Domestic currency | +19.3% |
| 1975 | 76.39 billion Domestic currency | +16.7% |
| 1976 | 90.08 billion Domestic currency | +17.9% |
| 1977 | 100.27 billion Domestic currency | +11.3% |
| 1978 | 110.98 billion Domestic currency | +10.7% |
| 1979 | 126.47 billion Domestic currency | +14.0% |
| 1980 | 142.89 billion Domestic currency | +13.0% |
| 1981 | 163.83 billion Domestic currency | +14.7% |
| 1982 | 183.74 billion Domestic currency | +12.2% |
| 1983 | 198.77 billion Domestic currency | +8.2% |
| 1984 | 223.98 billion Domestic currency | +12.7% |
| 1985 | 248.68 billion Domestic currency | +11.0% |
| 1986 | 270.34 billion Domestic currency | +8.7% |
| 1987 | 303.86 billion Domestic currency | +12.4% |
| 1988 | 345.51 billion Domestic currency | +13.7% |
| 1989 | 388.86 billion Domestic currency | +12.5% |
| 1990 | 414.54 billion Domestic currency | +6.6% |
| 1991 | 416.18 billion Domestic currency | +0.4% |
| 1992 | 432.36 billion Domestic currency | +3.9% |
| 1993 | 454.36 billion Domestic currency | +5.1% |
| 1994 | 482.67 billion Domestic currency | +6.2% |
| 1995 | 510.93 billion Domestic currency | +5.9% |
| 1996 | 542.08 billion Domestic currency | +6.1% |
| 1997 | 572.76 billion Domestic currency | +5.7% |
| 1998 | 605.53 billion Domestic currency | +5.7% |
| 1999 | 637.59 billion Domestic currency | +5.3% |
| 2000 | 686.35 billion Domestic currency | +7.6% |
| 2001 | 729.35 billion Domestic currency | +6.3% |
| 2002 | 781.63 billion Domestic currency | +7.2% |
| 2003 | 829.87 billion Domestic currency | +6.2% |
| 2004 | 893.83 billion Domestic currency | +7.7% |
| 2005 | 963.07 billion Domestic currency | +7.7% |
| 2006 | 1.04 trillion Domestic currency | +7.8% |
| 2007 | 1.13 trillion Domestic currency | +9.0% |
| 2008 | 1.23 trillion Domestic currency | +9.1% |
| 2009 | 1.26 trillion Domestic currency | +2.4% |
| 2010 | 1.36 trillion Domestic currency | +7.9% |
| 2011 | 1.47 trillion Domestic currency | +7.6% |
| 2012 | 1.51 trillion Domestic currency | +3.2% |
| 2013 | 1.57 trillion Domestic currency | +3.5% |
| 2014 | 1.61 trillion Domestic currency | +2.9% |
| 2015 | 1.64 trillion Domestic currency | +1.6% |
| 2016 | 1.70 trillion Domestic currency | +3.7% |
| 2017 | 1.80 trillion Domestic currency | +6.1% |
| 2018 | 1.89 trillion Domestic currency | +5.1% |
| 2019 | 1.99 trillion Domestic currency | +5.3% |
| 2020 | 1.97 trillion Domestic currency | -1.4% |
| 2021 | 2.18 trillion Domestic currency | +10.6% |
| 2022 | 2.43 trillion Domestic currency | +11.9% |
| 2023 | 2.53 trillion Domestic currency | +3.8% |
| 2024 | 2.60 trillion Domestic currency | +3.0% |
| 2025 | 2.72 trillion Domestic currency | +4.7% |
| 2026 | 2.85 trillion Domestic currency | +4.6% |
| 2027 | 2.99 trillion Domestic currency | +4.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 23.98 billion Domestic currency | 17.17 billion Domestic currency | 34.66 billion Domestic currency | 10 |
| 1970s | 75.18 billion Domestic currency | 38.46 billion Domestic currency | 126.47 billion Domestic currency | 10 |
| 1980s | 247.05 billion Domestic currency | 142.89 billion Domestic currency | 388.86 billion Domestic currency | 10 |
| 1990s | 506.90 billion Domestic currency | 414.54 billion Domestic currency | 637.59 billion Domestic currency | 10 |
| 2000s | 955.28 billion Domestic currency | 686.35 billion Domestic currency | 1.26 trillion Domestic currency | 10 |
| 2010s | 1.66 trillion Domestic currency | 1.36 trillion Domestic currency | 1.99 trillion Domestic currency | 10 |
| 2020s | 2.53 trillion Domestic currency | 1.97 trillion Domestic currency | 2.99 trillion Domestic currency | 8 |
Countries ranked near Australia
- 39 Denmark 3.36 trillion Domestic currency compare
- 40 United Kingdom of Great Britain and Northern Ireland 3.26 trillion Domestic currency compare
- 41 France 3.15 trillion Domestic currency compare
- 43 Albania 2.66 trillion Domestic currency compare
- 44 United Arab Emirates 2.27 trillion Domestic currency compare
- 45 Italy 2.19 trillion Domestic currency compare
More public sector data for Australia
- Arms imports 983.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 36.15 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0006 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 159.37 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 983.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 1,244 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0192 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 4.42 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 33.82 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 49.27 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is gross domestic product (gdp) in Australia?
- Gross domestic product (gdp) in Australia was 2.99 trillion Domestic currency in 2027, according to International Monetary Fund.
- What is the highest gross domestic product (gdp) recorded in Australia?
- The highest recorded value was 2.99 trillion Domestic currency in 2027.
- What is the lowest gross domestic product (gdp) recorded in Australia?
- The lowest recorded value was 17.17 billion Domestic currency in 1960.
- How does Australia rank for gross domestic product (gdp)?
- Australia ranks 42nd out of 86 countries with data for 2027.
- Is gross domestic product (gdp) rising or falling in Australia?
- Over the last ten years it is up 65.8%. The long-run trend across the full record is volatile.
- Where does this Australia data come from?
- The figures come from International Monetary Fund, published as part of Gross domestic product (GDP) (Total economy, Domestic currency). Statizoid updates them automatically from the source API.
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About this data
The Public Sector Balance Sheet (PSBS) Database shows comprehensive estimates of public sector assets and liabilities that formed the basis for the analysis presented in the October 2018 edition of the Fiscal Monitor. The database covers a broad sample of 55 countries, of which 25 countries contain time-series estimated PSBS and the rest for one single-year data compiled as part of Financial Transparency Evaluations and IMF Technical Assistance missions. The PSBS database is compiled on a best-effort basis, using the conceptual framework of the IMF's Government Finance Statistics Manual 2014. Data for the central and general government generally replicate data reported by country authorities in the IMF's Government Finance Statistics database. Data for the central bank generally replicate data reported by country authorities in the IMF's Monetary and Financial Statistics database. Where these data fail to cover all categories of assets and liabilities, they are complemented by other data reported by statistical authorities at the national level. other international organizations, or staff estimates. Data sources for public corporations are country specific and are captured in the country specific metadata documents.