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) $1,289,650,825,647 (2018)
GDP Growth Rate (annual %) 2.835% (2018)
GDP Per Capita, PPP (current international) $51,602 (2018)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 20/196 (2018)

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 %) 1.911% (2018)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 47.4% (2018)
Real Interest Rate (5 year average %) 3.373% (2018)
Manufacturing, value added (% of GDP) 5.777% (2018)
Current Account Balance (BoP, current US$) ($29,062,354,067) (2018)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 13,133,575 (2018)
Employment in Agriculture (% of total employment) 2.569% (2018)
Employment in Industry (% of total employment) 19.38% (2018)
Employment in Services (% of total employment) 78.051% (2018)
Unemployment Rate 5.387% (2018)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $305,306,565,383 (2018)
Exports of goods and services (current US$) $310,569,723,277 (2018)
Total Merchandise Trade (% of GDP) 34.393% (2018)
FDI, net inflows (BoP, current US$) $60,951,066,085 (2018)
Commercial Service Exports (current US$) $68,538,876,509 (2018)
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