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The Australian economy grew 1.5% in 2023-24, the weakest annual growth (excluding the COVID-19 pandemic) since 1991-92, a year that included the gradual recovery from the 1991 recession.
The Gross Domestic Product (GDP) in Australia expanded 0.20 percent in the second quarter of 2024 over the previous quarter. This page provides - Australia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
An infographic, updated monthly, summarising macroeconomic and financial market trends in Australia and information about developments for our main trading partners
Australia gdp growth rate for 2022 was 4.27%, a 2.16% increase from 2021. Australia gdp growth rate for 2021 was 2.11%, a 2.45% increase from 2020. Australia gdp growth rate for 2020 was -0.33%, a 2.52% decline from 2019. Annual percentage growth rate of GDP at market prices based on constant local currency.
Australia's economy grew by 0.2 per cent in the June quarter, and 1 per cent over the last year, according to the Australian Bureau of Statistics (ABS). It is the weakest rate of annual growth Australia has recorded in years, in seasonally adjusted terms.
A set of graphs on Australian Growth from the Chart Pack. A set of graphs on Australian Growth from the Chart Pack. ... World Economy; Australian Growth; Australian Inflation; Household Sector; Business Sector; Credit and Money; Factors of Production and Labour Market; Regions and Industry; Government;
GDP Annual Growth Rate in Australia averaged 3.35 percent from 1960 until 2024, 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.
The Australian economy is forecast to grow solidly over the second half of 2022, before slowing next year as higher consumer prices, rising interest rates and declining housing prices weigh on growth. GDP growth is forecast to be 3 per cent over 2022 and then 1½ per cent over 2023 and 2024 (Table 5.1).
Consumer price index, wage price index… Gross domestic product... Balance of payments, Imports and exports… Capital expenditure, small business… Lending, household income and wealth… Administration, finance, tax… We can provide access to detailed, customisable data on selected topics.
The snapshot offers a concise summary of Australia's economic trends and prospects, drawing from the OECD Economic Survey, Economic Outlook, and Economic Policy Reform: Going for Growth reports, delivering in-depth analyses of economic trends, suggested policy recommendations, alongside an overview of structural policy developments.