Australia: Economy

Economic Trivia

Australia has been ranked as having the largest median wealth in the world.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2014): China, Japan, and United States
Top 3 Exported Goods (2014): Ores, Oil & Mineral Fuels, and Precious Stones & Metals

Top Industries Source: CIA World Factbook

Mining; Industrial and Transportation Equipment; Food Processing; Chemicals

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $1,077,876,758,733 (2014)
GDP Growth Rate (annual %) 2.5% (2014)
GDP Per Capita, PPP (current international) $45,925 (2014)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 19/193 (2014)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) 2.488% (2014)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 47.6% (2015)
Real Interest Rate (5 year average %) 4.279% (2014)
Manufacturing, value added (% of GDP) 6.872% (2014)
Current Account Balance (BoP, current US$) ($44,238,683,712) (2014)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 12,420,090 (2014)
Employment in Agriculture (% of total employment) 2.6% (2013)
Employment in Industry (% of total employment) 20.8% (2013)
Employment in Services (% of total employment) 69.5% (2013)
Unemployment Rate 6% (2014)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $311,265,950,610 (2014)
Exports of goods and services (current US$) $304,086,110,346 (2014)
Total Merchandise Trade (% of GDP) 32.869% (2014)
FDI, net inflows (BoP, current US$) $46,333,457,428 (2014)
Commercial Service Exports (current US$) $53,268,701,459 (2014)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Australia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary