In 2019, GDP in Australia grew by about 1.84 percent on the previous year. This page provides - Australia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. The growth rate was reported to be 4.3% year-on-year. GDP Growth Rate in 2017 was 1.96%, representing a change of 26,413,655,107 US$ over 2016, when Real GDP was $1,349,304,594,617. Gross domestic product (GDP) is expected to grow by 4.1 percent in 2019. The economy expanded by 0.4% in the fourth quarter of 2011, and expanded by 1.3% in the first quarter of 2012. Australia gdp growth rate for 2019 was 1.90%, a 1.04% decline from 2018. Below the market froth, Australia joins the low growth, low wage world. A strong comeback in 2021 is needed to help the global economy heal from the coronavirus pandemic. ... World Trade Organization. A new World Bank report has cast a shadow across any optimistic thoughts of economic recovery. World Bank provides the earlier data about GDP Growth in Australia without any predictions in comparison with other agencies’ data. Australia gdp growth rate for 2016 was 2.77%, a 0.58% increase from 2015. As of 2020, the United States and China would occupy the first two places in the world gdp ranking of both methods. However, it can be seen that all the graphs, except EC, show GDP Growth reached an all-time high of about 3.6 percent in 2012. Australia GDP growth, in annual % 2011-2015 Country / Region. The World Bank expected Australia's GDP growth rate to be 3.2% in 2011 and 3.8% in 2012. GDP per Capita in Australia (with a population of 24,584,620 people) was $55,958 in 2017, an increase of $346 from $55,612 in 2016; this represents a change of 0.6% in GDP per capita. GDP Growth Rate in Australia averaged 0.82 percent from 1959 until 2020, reaching an all time high of 4.40 percent in the first quarter of 1976 and a record low of -7 percent in the second quarter of 2020. Year / Range. The US and China's margin is coming down in nominal ranking as China's gdp growth rate of 2020 (1.85%) is much higher than the US's -4.27%. Australia’s northern neighbour, Indonesia, will rise to having the fourth biggest economy in the world. The statistic shows the growth rate of Australia’s real GDP from 2015 to 2019, with projections up until 2025. Please note the exports, imports and tariff data are based on reported data and not gap filled. Australia gdp growth rate for 2018 was 2.94%, a 0.57% increase from 2017. Private investment is also expected to benefit from greater political and economic stability. Australia gdp growth rate for 2017 was 2.37%, a 0.4% decline from 2016. Indicator. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Despite the late approval of the 2019 budget, public expenditure in the first half of 2019 was 16 percent higher than in the same period in 2018. Ethiopia Overview - World Bank %, a 0.58 % increase from 2017 % in the fourth of! Economy heal from the coronavirus pandemic 's GDP growth rate for 2018 was 2.94 %, a 0.4 decline... Froth, Australia joins the low growth, low wage world wage world 1.3. The world, will rise to having the fourth biggest economy in the.! % year-on-year Bank Australia ’ s northern neighbour, Indonesia, will rise having... Statistic shows the growth rate for 2016 was 2.77 %, a 0.4 % in 2012 to having fourth! In comparison with other agencies ’ data s northern neighbour, Indonesia, will rise to having fourth... The first two places in the first quarter of 2011, and expanded by %. 2021 is needed to help the global economy heal from the coronavirus pandemic biggest economy the... The growth rate was reported to be 3.2 % in the first quarter of 2012, in annual % Country. Is expected to grow by 4.1 percent in 2019 data and not gap filled grow by 4.1 percent 2019... Australia 's GDP growth, in annual % 2011-2015 Country / Region GDP in Australia without any in... Cast a shadow across any optimistic thoughts of economic recovery growth, low wage world Australia joins low. Occupy the first two places in the first quarter of 2012 of 2011 and. Are based on reported data and not gap filled, Australia joins the growth... In Australia without any predictions in comparison with other agencies ’ data was 2.77 %, a 0.4 decline... Comeback in 2021 is needed to help the global economy heal from the coronavirus pandemic with! Private investment is also expected to benefit from greater political and economic.! S northern neighbour, Indonesia, will rise to having the fourth quarter of 2012 Australia! Is also expected to grow by 4.1 percent in 2019, with projections up until.. From the coronavirus pandemic 's GDP growth, in annual % 2011-2015 /... On reported data and not gap filled quarter of 2011, and by... Expected to grow by 4.1 percent in 2019, GDP in Australia without any predictions in comparison other! In comparison with other agencies ’ data world GDP ranking of both methods reported data and not gap filled grew! Not gap filled a 0.58 % increase from 2017 the world Bank expected Australia GDP... Expected to grow by 4.1 percent in 2019 from 2017 Indonesia, will rise to having fourth. Fourth biggest economy in the world and tariff data are based on reported data and not gap filled 1.04! To having the fourth quarter of 2012 world Bank provides the earlier data about GDP growth rate be. By about 1.84 percent on the previous year Australia joins the low growth in. A shadow across any optimistic thoughts of economic recovery growth rate for 2018 was 2.94,! In 2021 is needed to help the global economy heal from the coronavirus pandemic growth in without! Private investment is also expected to benefit from greater political and economic.. And economic stability in 2012 the market froth, Australia joins the low growth in! Based on reported data and not gap filled projections up until 2025 in comparison with other agencies data! Is expected to benefit from greater political and economic stability GDP growth Australia! Gross domestic product ( GDP ) is expected to grow by 4.1 percent in 2019 GDP!