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Australia GDP Growth Rate

Last Release
Jun 2021
Actual
0.7 %
Forecast
N/A
Previous
1.8 %
Frequency
Quarterly
Units In
%
Next Release
N/A
Time to Release
N/A
Highest
Lowest
Average
Date Range
Source
4.4 %
Mar 1976
-7 %
Jun 2020
0.83 %1959 - 2021Australian Bureau of Statistics
Australia's economy is dominated by the service sector (65 percent of total GDP). Yet its economic success in recent years has been based on the mining (13.5 percent of GDP) and agriculture (2 percent of GDP) as the country is a major exporter of commodities. Other sectors include: manufacturing (11 percent) and construction (9.5 percent).

Latest Updates

The Australian economy advanced 0.7% qoq in Q2 2021, after an upwardly revised 1.9% growth in Q1 and compared with market expectations of 0.5%. This was the weakest pace of expansion in four quarters, but the full impact of the ongoing COVID-19 lockdowns may yet to be felt. Household consumption continued to grow (1.1% vs 1.3% in Q1), driven by spending on services; while government spending rebounded (1.3% vs -0.3%), led by health-related expenditure. Meantime, private investment eased sharply (2% vs 6.2%), on a slowdown in machinery and equipment investment and dwellings investment. Net external demand contributed negatively to the GDP, due to falls in export volumes of mining commodities which reflected disruptions to both coal production and transportation of iron ore to ports. On a yearly basis, the economy grew at a record pace of 9.6%, but only because the pandemic caused a severe contraction in Q2 2020, which was dropping from the calculation.

Australia GDP Growth Rate History

Last 12 readings

Latest Releases and Calendar Events

DATETIMETITLE
Sep 1, 202101:54Australia Q2 GDP Growth Beats Estimates
Dec 4, 201911:38Australia Q3 GDP Growth Below Estimates
Sep 4, 201909:46Australia Q2 GDP Growth Matches Estimetes
Jun 5, 201911:58Australia Q1 GDP Growth Below Forecasts
DATETIMEEVENTActual
Sep 2, 202001:30GDP Growth Rate QoQ-7 %
Jun 3, 202001:30GDP Growth Rate QoQ-0.3 %
Mar 4, 202000:30GDP Growth Rate QoQ0.5 %
Dec 4, 201900:30GDP Growth Rate QoQ0.4 %
Sep 4, 201901:30GDP Growth Rate QoQ0.5 %
Jun 5, 201901:30GDP Growth Rate QoQ0.4 %

Australia gdp Indicators

All Australia indicators
Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
GDP
1,330.9
Dec 2020
1,396.6
Dec 2019
18.6
Dec 1960
1,576.2
Dec 2013
USD BillionYearly1960 - 2020
GDP Annual Growth Rate
9.6
Jun 2021
1.3
Mar 2021
-6.4
Jun 2020
9.6
Jun 2021
%Quarterly1960 - 2021
GDP Constant Prices
505,134
Jun 2021
501,788
Mar 2021
63,799
Sep 1959
505,134
Jun 2021
AUD MillionQuarterly1959 - 2021
GDP From Agriculture
13,185
Jun 2021
13,012
Mar 2021
3,879
Jun 1983
13,185
Jun 2021
AUD MillionQuarterly1974 - 2021
GDP From Construction
34,908
Jun 2021
34,574
Mar 2021
8,565
Jun 1975
37,168
Jun 2014
AUD MillionQuarterly1974 - 2021
GDP From Manufacturing
28,139
Jun 2021
27,898
Mar 2021
16,320
Mar 1975
30,742
Jun 2008
AUD MillionQuarterly1974 - 2021

GDP Growth Rate across Pacific

GDP Growth Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Australia
0.7
Jun 2021
1.8
Mar 2021
-7
Jun 2020
4.4
Mar 1976
%Quarterly1959 - 2021
New Zealand
2.8
Jun 2021
1.4
Mar 2021
-12.2
Jun 2020
13.9
Sep 2020
%Quarterly1987 - 2021

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