Economy ofAustralia
Sydney City from Waverton.jpg
Sydney's central business district is Australia's largest financial and business services hub.
CurrencyAustralian dollar (AUD) = 0.72USD
Fiscal year
1 July–30 June
Trade organisations
APEC, CPTPP, G20, OECD, WTO
Country group
  • Developed/Advanced
  • High-income economy
Statistics
PopulationIncrease 25,925,667 (2021)
GDP
  • Increase US$1.748 trillion (nominal, 2022 est.)
  • Increase US$1.605 trillion (PPP, 2022)
GDP rank
  • 13th (nominal, 2022)
  • 18th (PPP, 2022)
GDP growth
  • 2.7% (2018) 1.8% (2019)
  • −0.3% (2020) 6.1% (2021e)
GDP per capita
  • Increase $67,464 (nominal, 2022 est.)
  • Increase $61,941 (PPP, 2021 est.)
GDP per capita rank
  • 11th (nominal, 2022)
  • 21st (PPP, 2022)
GDP by sector
  • Services: 62.7%
  • Construction: 7.4%
  • Mining: 5.8%
  • Manufacturing: 5.8%
  • Agriculture: 2.8% (2017)
Inflation (CPI)
  • 1.4% (2020 est.)
  • 3.5% annual/1.3% quarterly (Dec Qtr 2021)
Population belowpoverty line
13.6% (2017)
Gini coefficient
Negative increase 34.0medium(2018)
Human Development Index
  • Increase 0.944very high(2019) (8th)
  • Increase 0.867very highIHDI (2019)
Labour force
  • Increase 13.4 million (February 2022)
  • Increase 74.6% employment rate (Q1-2020)
Labour force by occupation
  • Services: 78.8%
  • Construction: 9.2%
  • Manufacturing: 7.5%
  • Agriculture: 2.5%
  • Mining: 1.9% (2017)
Unemployment
  • Steady 3.9% (May 2022)
  • Negative increase 548.1 thousand unemployed (May 2022)
  • Steady 8.8% youth unemployment (May 2022; 15 to 24 year-olds)
Average gross salary
  • AUD weekly (Nov 2021):
  • A$1,748 (full-time adult)
  • A$1,329 (all employees)
Main industries
  • Financial and insurance services
  • Construction
  • Healthcare and social assistance
  • Mining
  • Professional, scientific and technical services
  • Manufacturing
Ease-of-doing-business rank
Increase 14th (very easy, 2020)
External
ExportsUS$480.2 billion (2018–19)
Export goods
iron ore, coal, natural gas, gold, aluminium, beef, crude petroleum, copper, meat (non-beef)
Main export partners
  •  China(-) 32.6%
  •  Japan(+) 13.1%
  •  South Korea(+) 5.9%
  •  United States(+) 5.3%
  •  India(+) 4.9%
  •  New Zealand(+) 3.4%
ImportsUS$420.4 billion (2018–19)
Import goods
petroleum, cars, telecom equipment and parts, goods vehicles, computers, medicaments, gold, civil engineering equipment, furniture
Main import partners
  •  China(-) 19.4%
  •  United States(+) 12.3%
  •  Japan(+) 6.4%
  •  Germany(+) 4.5%
  •  Thailand(+) 4.1%
  •  United Kingdom(+) 4.0%
FDI stock
  • Inward: $682.9 billion
  • Outward: $491.0 billion
(UNCTAD 2018)
Current account
Increase −A$38.8 billion (2018 est.)
Grossexternal debt
Positive decrease US$2.095 trillion (Q1, 2019)
Public finances
Public debt
66.4% of GDP (October 2021)
Budget balance
−0.2% (of GDP) (2019)
RevenuesA$485.2 billion (2019)
ExpensesA$482.7 billion (2019)
Economic aiddonor: ODA, $3.12 billion (2018)
Credit rating
  • Standard & Poor's:
  • AAA
  • Outlook: Stable
  • Moody's:
  • AAA
  • Outlook: Stable
  • Fitch:
  • AAA
  • Outlook: Stable
Foreign reserves
$66.58 billion (31 December 2017 est.)
Main data source:CIA World Fact Book
All values, unless otherwise stated, are in US dollars.