Australia's economic growth slowed to 2.7 percent year-on-year in the December quarter 2022 from 5.9 percent in the previous three-month period. The latest reading came in line with market expectations and matched the weakest pace of growth since the first quarter of 2021. source: Australian Bureau of Statistics

GDP Annual Growth Rate in Australia averaged 3.38 percent from 1960 until 2022, 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 May of 2023.

GDP Annual Growth Rate in Australia is expected to be 2.60 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 2.50 percent in 2024 and 2.30 percent in 2025, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Australia GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-07 12:30 AM Q3 5.9% 3.4% 6.2% 6.4%
2023-03-01 12:30 AM Q4 2.7% 5.9% 2.7% 2.7%
2023-06-07 01:30 AM Q1 2.7% 2.6%


Related Last Previous Unit Reference
GDP Growth Rate 0.50 0.70 percent Dec 2022
GDP Annual Growth Rate 2.70 5.90 percent Dec 2022
GDP Constant Prices 555690.00 553036.00 AUD Million Dec 2022
Gross National Product 545781.00 538191.00 AUD Million Dec 2022
Gross Fixed Capital Formation 122829.00 124626.00 AUD Million Dec 2022
GDP from Utilities 11574.00 12171.00 AUD Million Dec 2022
GDP from Public Administration 28567.00 28096.00 AUD Million Dec 2022
GDP from Mining 58330.00 56517.00 AUD Million Dec 2022
GDP from Manufacturing 28896.00 29414.00 AUD Million Dec 2022
GDP from Construction 38945.00 39055.00 AUD Million Dec 2022
GDP from Agriculture 14364.00 14742.00 AUD Million Dec 2022

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
2.70 5.90 10.30 -5.80 1960 - 2022 percent Quarterly
SA