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Australia GDP

Australia's GDP rose to $1.75 trillion in 2024, up from $1.73 trillion in 2023, according to World Bank. This represents an increase of 1.4% ($24.14 billion) from the previous year and accounts for 1.57% of the world's total GDP. Australia has the 13th highest GDP. Within Oceania, it ranks 1st out of 19 countries.

Australia's GDP per capita fell to $61,211.9 in 2024, down from $61,598.18 in 2023.

Yearly Historical Data (1960-2024)

(in Trillion USD)
Year GDP (Trillion USD)
2024 1.75
2023 1.73
2022 1.69
2021 1.56
2020 1.33
2019 1.39
2018 1.43
2017 1.33
2016 1.21
2015 1.35
2014 1.47
2013 1.58
2012 1.55
2011 1.4
2010 1.15
2009 0.93
2008 1.06
2007 0.86
2006 0.75
2005 0.7
2004 0.61
2003 0.47
2002 0.4
2001 0.38
2000 0.42
1999 0.39
1998 0.4
1997 0.44
1996 0.4
1995 0.37
1994 0.32
1993 0.31
1992 0.33
1991 0.33
1990 0.31
1989 0.3
1988 0.24
1987 0.19
1986 0.18
1985 0.18
1984 0.19
1983 0.18
1982 0.19
1981 0.18
1980 0.15
1979 0.13
1978 0.12
1977 0.11
1976 0.11
1975 0.1
1974 0.09
1973 0.06
1972 0.05
1971 0.05
1970 0.04
1969 0.04
1968 0.03
1967 0.03
1966 0.03
1965 0.03
1964 0.02
1963 0.02
1962 0.02
1961 0.02
1960 0.02
Australia GDP : Definition
GDP measures the total value of all goods and services produced in Australia, measured in current US dollars. It is also called Nominal GDP.
Indicator Last Value Prior Value Period
GDP Annual Growth Rate 1.43% 3.44% 2024
GDP Growth Rate (QoQ) 0.6% 0.3% Jun'25
GDP Growth Rate (YoY) 1.8% 1.4% Jun'25
GDP per Capita $61,211.9 $61,598.18 2024
GDP per Capita PPP $60,082.01 $60,461.16 2024
R&D Expenditure (% GDP) 1.86% 1.83% 2021
Real GDP $1.67T $1.64T 2024