Australia GDP Growth Rate

Last Release

Dec 31, 2022

Actual

0.5

Units In

0.7

Frequency

Quarterly

Next Release

Sep 03, 2025

Time to Release

2 Months 27 Days 12 Hours

Highest	Lowest	Average	Date Range	Source
4.4 Mar 1976	-6.8 Jun 2020	0.83 %	1959-2022	Australian 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 grew by 0.2% qoq in Q1 2025, slowing sharply from a 0.6% rise in Q4 and falling short of market forecasts of 0.4%. It marked the 14th straight quarter of expansion but the weakest in three quarters. Public spending posed the biggest drag since Q3 2017, as severe weather disrupted mining, tourism, and shipping. Notably, public investment declined for the first time in three quarters (-2.0% vs 0.8% in Q4), reflecting the completion of major projects and some delays in new ones. Household spending eased (0.4% vs 0.7%), with growth focused on essentials like food, rent, and electricity. Government expenditure was flat after nine quarters of gains. Net trade also weighed on growth, as exports fell more than imports amid rising global trade risks. Inventories added 0.1 percentage point to GDP. The household savings ratio increased to 5.2% from 3.9% in Q4. On an annual basis, GDP expanded 1.3%, unchanged from the previous quarter but below expectations of 1.5%.