The Australian economy expanded 1.70 percent year-on-year in the third quarter of 2019, following an upwardly revised 1.6 percent growth in the previous period and matching market expectations. GDP Annual Growth Rate in Australia averaged 3.43 percent from 1960 until 2019, reaching an all time high of 9 percent in the first quarter of 1967 and a record low of -3.40 percent in the second quarter of 1983. source: Australian Bureau of Statistics

GDP Annual Growth Rate in Australia is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Australia to stand at 2.20 in 12 months time. In the long-term, the Australia GDP Annual Growth Rate is projected to trend around 2.50 percent in 2020, according to our econometric models.

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Australia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.70 1.60 9.00 -3.40 1960 - 2019 percent Quarterly
SA



Calendar GMT Actual Previous Consensus TEForecast
2019-03-06 12:30 AM Q4 2.3% 2.7% 2.5% 2.7%
2019-06-05 01:30 AM Q1 1.8% 2.3% 1.8% 1.6%
2019-09-04 01:30 AM Q2 1.4% 1.7% 1.4% 1.5%
2019-12-04 12:30 AM Q3 1.7% 1.6% 1.7% 1.6%
2020-03-04 12:30 AM Q4 1.7% 2.1%


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). .

Australia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.60 4.40 -2.00 percent [+]
GDP Annual Growth Rate 1.70 1.60 9.00 -3.40 percent [+]
GDP 1432.20 1330.80 1576.20 18.60 USD Billion [+]
GDP Constant Prices 477294.00 475208.00 477294.00 63799.00 AUD Million [+]
Gross National Product 474787.00 470562.00 474787.00 57487.00 AUD Million [+]
Gross Fixed Capital Formation 109237.00 109413.00 119585.00 10212.00 AUD Million [+]
GDP per capita 56919.40 56228.80 56919.40 19245.40 USD [+]
GDP per capita PPP 45439.30 44888.00 45439.30 27969.40 USD [+]
GDP From Agriculture 9841.00 10057.00 12334.00 3879.00 AUD Million [+]
GDP From Construction 33758.00 33604.00 37168.00 8565.00 AUD Million [+]
GDP From Manufacturing 25840.00 25986.00 30744.00 16320.00 AUD Million [+]
GDP From Mining 41963.00 41672.00 41963.00 5545.00 AUD Million [+]
GDP From Public Administration 25206.00 24918.00 25206.00 7996.00 AUD Million [+]
GDP From Utilities 11521.00 11550.00 11693.00 4004.00 AUD Million [+]