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 (2017): China, Japan, and United States
Top 3 Exported Goods (2017): Oil & Mineral Fuels, Ores, and Precious Stones & Metals

Top Industries Source: CIA World Factbook

Mining; Industrial and Transportation Equipment; Food Processing; Chemicals

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $1,192,065,505,301 (2017)
GDP Growth Rate (annual %) 1.958% (2017)
GDP Per Capita, PPP (current international) $48,460 (2017)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 20/195 (2017)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 1.949% (2017)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 47.5% (2017)
Real Interest Rate (5 year average %) 1.481% (2017)
Manufacturing, value added (% of GDP) 5.747% (2017)
Current Account Balance (BoP, current US$) ($32,653,402,813) (2017)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 12,910,684 (2017)
Employment in Agriculture (% of total employment) 2.581% (2017)
Employment in Industry (% of total employment) 19.139% (2017)
Employment in Services (% of total employment) 78.28% (2017)
Unemployment Rate 5.59% (2017)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $272,924,051,588 (2017)
Exports of goods and services (current US$) $281,496,342,107 (2017)
Total Merchandise Trade (% of GDP) 34.714% (2017)
FDI, net inflows (BoP, current US$) $45,100,492,713 (2017)
Commercial Service Exports (current US$) $64,764,959,719 (2017)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

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

Sources

  1. The World Bank