The Gross Domestic Product (GDP) in Australia expanded 9.60 percent in the second quarter of 2021 over the same quarter of the previous year. source: Australian Bureau of Statistics

GDP Annual Growth Rate in Australia averaged 3.36 percent from 1960 until 2021, reaching an all time high of 9.60 percent in the second quarter of 2021 and a record low of -6.20 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 October of 2021.

GDP Annual Growth Rate in Australia is expected to be 1.50 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 3.00 percent in 2022, according to our econometric models.

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Australia GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2021-06-02 01:30 AM Q1 1.1% -1.0% 0.6% 0.7%
2021-09-01 01:30 AM Q2 9.6% 1.3% 9.2% 9.2%
2021-12-02 12:30 AM Q3 9.6% 1.5%

Australia Last Unit Reference Previous Highest Lowest
GDP Growth Rate 0.70 percent Jun/21 1.80 4.40 -7.00
GDP Annual Growth Rate 9.60 percent Jun/21 1.30 9.60 -6.20
GDP Constant Prices 505134.00 AUD Million Jun/21 501788.00 505134.00 65956.00
Gross National Product 521999.00 AUD Million Jun/21 510848.00 521999.00 58686.00
Gross Fixed Capital Formation 120588.00 AUD Million Jun/21 116838.00 122290.00 10444.00
GDP From Agriculture 13185.00 AUD Million Jun/21 13012.00 13185.00 3934.00
GDP From Utilities 11735.00 AUD Million Jun/21 11530.00 12079.00 4108.00
GDP From Public Administration 28011.00 AUD Million Jun/21 27962.00 28159.00 8176.00
GDP From Mining 48557.00 AUD Million Jun/21 49178.00 50778.00 6734.00
GDP From Manufacturing 28139.00 AUD Million Jun/21 27898.00 31868.00 16918.00
GDP From Construction 34908.00 AUD Million Jun/21 34574.00 37992.00 8759.00

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). .