Economy of Australia
Population: 24.99 M (2018)
GDP per Capita: 57,374 USD (2018)
1,434 B.

GDP USD

(2018)

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312,660 M.

EXPORTS USD

(2018)

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306,680 M.

IMPORTS USD

(2018)

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41.37 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 2.94 % (2018)
GDP of 2010 USD USD 1,420.60 B. (2018)
GDP Current USD USD 1,433.90 B. (2018)
GDP per Capita Current USD USD 57,374 (2018)
GDP per capita, PPP USD 45,378 (2018)
GDP per Capita, 2010 USD USD 56,842 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 18.68 % (2018)
Government Spending USD 267.83 B. (2018)
Government Debt % GDP 41.37 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 175.72 (2018)
Trade Openness 43.19 % (2018)
Exports of Goods and Services % GDP 21.80 % (2018)
Exports Goods & Services USD 312.66 B. (2018)
Exports Annual Growth 4.10 % (2018)
Imports as % GDP 21.39 % (2018)
Total Imports USD 306.68 B. (2018)
Foreign Direct Investment % GDP 4.21 % (2018)
Foreign Direct Investment USD 60.95 B. (2018)
Current Account Balance % GDP USD -2.07 % (2018)
Current Account Balance USD -29.66 B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD 17.29 B. (2018)
Foreign Exchange Reserves incl Gold USD 53.88 B. (2018)
Remittances % GDP 0.13 % (2018)
Remittances 0.13 % (2018)
Balance of Payments USD 1,907 M. (2016)

Labor Market

Indicator Value
Labor Force 13.26 M. (2019)
Unemployment Rate 5.33 % (2019)
Unemployment Rate Females 5.33 % (2019)
Unemployment Rate Males 5.22 % (2019)
Youth Unemployment (ages 15-24) 12.13 % (2019)
Labor Force Participation Rate 64.91 % (2019)
Labor Force (Percent Female) 46.54 % (2019)
Female Labor Force Participation Rate 59.59 % (2019)
Male Labor Force Participation Rate 70.35 % (2019)
Dependent People 53.49 % (2018)

Agriculture Sector

Indicator Value
Forest Area 16.30 % (2016)
Forest Area km² 1,250,590 km² (2016)
Agricultural Land 48.24 % (2016)
Agricultural Land km² 3,710,780 km² (2016)
Employment 2.54 % (2019)
Value added % GDP 2.46 % (2018)
Agriculture Value added USD 35.21 B. (2018)
Crop Production Index 107.10 (2016)
Precipitation 534 mm (2014)
Arable Land 6 % (2016)
Cereal Yield 2,674 kg/hectare (2017)
Food production index 106 (2016)
Rural Population 14 % (2018)
Fertilizer use of Arable Land 68 kg/hectare (2016)
Livestock Production Index 102 (2016)
Economy of Australia

According to the World Bank and its latest published data, the economy of the Australia presents a growth rate of 2.94 % (2018) to the previous year.

With a population that reaches 24.99 M (2018) and a gross domestic product of USD 1,433.90 B. (2018), it translates a Gross Domestic Product per Capita of USD 57,374 placing its inhabitants on the threshold of an High-income country (according to the World Bank's updated classification).

Australia also has a workforce of 13.26 M. (2019) with an unemployment rate of 5.33 % (2019), where women represent 5.33 % (2019) and men 5.22 % (2019), the unemployment rate for young people between 15-24 years old stood at 12.13 % (2019). The total number of dependent people stands at 53.49 % (2018).

The central government spent 18.68 % (2018) of its gross domestic product that year, which in absolute terms is USD 267.83 B. (2018). Its consolidated public debt reached 41.37 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Australia exported USD 312.66 B. (2018), which represents 21.80 % (2018) of its gross domestic product, in that same sense its imports reached USD 306.68 B. (2018) with a direct foreign investment of USD 60.95 B. (2018).

Australia has a forest area of 1,250,590 km² (2016), which represents 16.30 % (2016) of its total area, an average rainfall of 534 mm (2014) per year and a population of 14 % (2018) living in rural areas. With a total area of 3,710,780 km² (2016) available for agriculture and 2.54 % (2019) of its employments, the agricultural sector contributes to the economy of the Australia about USD 35.21 B. (2018) (2.46 % (2018) of its GDP).