Economy — Australia
GDP, employment, industries, public finance, and currency.
Profile updated 2026-06-02
⚡ Economy at a glance
GDP, employment, industries, public finance, and currency. Key figure for Australia: Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the WTO, APEC, the G20, and other trade forums. Australia’s free trade…
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Economic overview
- Economic Overview
Australia is an open market with minimal restrictions on imports of goods and services.
The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic.
Australia plays an active role in the WTO, APEC, the G20, and other trade forums.
Australia’s free trade agreement (FTA) with China entered into force in 2015, adding to existing FTAs with the Republic of Korea, Japan, Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand.
Australia continues to negotiate bilateral agreements with Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic Partnership that includes the 10 ASEAN countries and China, Japan, Korea, New Zealand, and India.
Australia is a significant exporter of natural resources, energy, and food.
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources.
A series of major investments, such as the US $40 billion Gorgon Liquid Natural Gas Project, will significantly expand the resources sector.
For nearly two decades up till 2017, Australia had benefited from a dramatic surge in its terms of trade.
As export prices increased faster than import prices, the economy experienced continuous growth, low unemployment, contained inflation, very low public debt, and a strong and stable financial system.
Australia entered 2018 facing a range of growth constraints, principally driven by the sharp fall in global prices of key export commodities.
Demand for resources and energy from Asia and especially China is growing at a slower pace and sharp drops in export prices have impacted growth.
- Industries
Mining, industrial and transportation equipment, food processing, chemicals, steel
- GDP - per capita (PPP)
$48,800.00 (USD)
- GDP - real growth rate
2.9%
GDP & growth
- GDP - Gross Domestic Product (PPP)
$1,250,900,000,000 (USD)
- GDP Per Capita
$48,800.00 (USD)
- GDP - real growth rate
2.9%
- GDP - official exchange rate
$1,257,000,000,000 (USD)
- GDP - composition, by end use
- Household Consumption: 58.5%
- Government Consumption: 18.7%
- Investment in Fixed Capital: 24.3%
- Investment in Inventories: 0%
- Exports of Goods and Services: 19.4%
- Imports of Goods and Services: -20.9%
- GDP by Sector- agriculture
3.6%
- GDP by Sector- Industry
28.2%
- GDP by Sector- services
68.2%
- Industrial Growth Rate
2%
Prices & money
- Inflation Rate
1.4%
- Exchange Rate per US Dollar
1.352
- Currency Name and Code
Australian Dollar (AUD)
- Fiscal Year
1 July - 30 June
- Commercial Bank Prime Lending Rate
5.1%
Employment & labor
- Labor Force
12,630,000
- Unemployment Rate
5.8%
- Major Industries
Mining, industrial and transportation equipment, food processing, chemicals, steel
- Agriculture Products
Wheat, barley, sugarcane, fruits; cattle, sheep, poultry
Public finance
- Annual Budget
$420,500,000,000 (USD)
- Public Debt (% of GDP)
46.1%
- Budget Surplus or Deficit - percent of GDP
-2.1%
- Taxes and other revenues - percent of GDP
33.5%
