Key data points
Last release
—
Observation period
2023
Next release
—
Forecast
—
Highest
1.72 T USD on Dec 31, 2023
Lowest
18.61 B USD on Dec 31, 1960
About Australia GDP
The gross domestic product (GDP) measures of national income and output for a given country's economy. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time.
Related indicators
Frequently Asked Questions
One of the ways to count Australia GDP is to add up its consumer spending, business investment, government spending, and net exports.
In 2023 Australia GDP was 1.724 T USD, and the previous year it amounted to 1.693 T USD.
Australia GDP accounts for 1.63% of the world GDP.
GDP per capita is gross domestic product divided by a country's population. In 2023 Australia GDP per capita was 61.34 K USD, and in 2022 it amounted to 60.97 K USD.
Last quarter Australia real GDP amounted to 612.18 B AUD, the quarter before that it was 610.81 B AUD.
Since GDP measures an economy's output, it is subject to inflationary pressure. So real GDP is a measure of an economy's output adjusted for inflation.
The highest figure Australia GDP has ever reached is 1.724 T USD.
The lowest ever value Australia GDP has reached is 18.61 B USD.