The Australian economy expanded 1.4 percent year-on-year in the second quarter of 2019, slowing from a downwardly revised 1.7 percent in the previous period and matching market expectations. It was the weakest growth rate since the global financial crisis in 2009. GDP Annual Growth Rate in Australia averaged 3.44 percent from 1960 until 2019, reaching an all time high of 9 percent in the first quarter of 1967 and a record low of -3.40 percent in the second quarter of 1983.

GDP Annual Growth Rate in Australia is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Australia to stand at 2.30 in 12 months time. In the long-term, the Australia GDP Annual Growth Rate is projected to trend around 2.50 percent in 2020, according to our econometric models.

Australia GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-05 12:30 AM GDP Growth Rate YoY Q3 2.8% 3.1% 3.3% 3.1%
2019-03-06 12:30 AM GDP Growth Rate YoY Q4 2.3% 2.7% 2.5% 2.7%
2019-06-05 01:30 AM GDP Growth Rate YoY Q1 1.8% 2.3% 1.8% 1.6%
2019-09-04 01:30 AM GDP Growth Rate YoY Q2 1.4% 1.7% 1.4% 1.5%
2019-12-04 12:30 AM GDP Growth Rate YoY Q3 1.4% 1.8%


Australia GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.50 4.40 -2.00 percent [+]
GDP Annual Growth Rate 1.40 1.70 9.00 -3.40 percent [+]
GDP 1432.20 1330.80 1576.20 18.60 USD Billion [+]
GDP Constant Prices 465885.00 463653.00 465885.00 62496.00 AUD Million [+]
Gross National Product 464323.00 458794.00 464323.00 56544.00 AUD Million [+]
Gross Fixed Capital Formation 107275.00 109183.00 116849.00 9984.00 AUD Million [+]
GDP per capita 56919.40 56228.80 56919.40 19245.40 USD [+]
GDP per capita PPP 45439.30 44888.00 45439.30 27969.40 USD [+]
GDP From Agriculture 10618.00 10847.00 12517.00 3997.00 AUD Million [+]
GDP From Construction 33319.00 33781.00 36761.00 8476.00 AUD Million [+]
GDP From Manufacturing 25618.00 25986.00 30041.00 15947.00 AUD Million [+]
GDP From Mining 37875.00 36624.00 37875.00 5144.00 AUD Million [+]
GDP From Public Administration 24676.00 24231.00 24676.00 7902.00 AUD Million [+]
GDP From Utilities 11176.00 11210.00 11280.00 3850.00 AUD Million [+]


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). . This page provides - Australia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.40 1.70 9.00 -3.40 1960 - 2019 percent Quarterly
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Country Last Previous
China 6.20 Jun/19
Indonesia 5.05 Jun/19
India 5.00 Jun/19
Spain 2.30 Jun/19
United States 2.30 Jun/19
Netherlands 2.00 Jun/19
South Korea 2.00 Jun/19
Saudi Arabia 1.70 Mar/19
Canada 1.60 Jun/19
Australia 1.40 Jun/19
France 1.40 Jun/19
Euro Area 1.20 Jun/19
United Kingdom 1.20 Jun/19
Brazil 1.00 Jun/19
Japan 1.00 Jun/19
Russia 0.90 Jun/19
South Africa 0.90 Jun/19
Germany 0.40 Jun/19
Switzerland 0.20 Jun/19
Singapore 0.10 Jun/19
Italy -0.10 Jun/19
Mexico -0.80 Jun/19
Turkey -1.50 Jun/19
Argentina -5.80 Mar/19


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