Australia GDP Growth Rate

Last Release

Dec 31, 2022

Actual

0.5

Units In

0.7

Frequency

Quarterly

Next Release

Mar 04, 2026

Time to Release

2 Months 28 Days 0 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 expanded 0.4% qoq in Q3 2025, following an upwardly revised Q2 reading and market estimates of 0.7% while marking the 16th consecutive quarter of growth. Household consumption slowed sharply (0.5% vs 0.9% in Q2), as discretionary spending cooled after a strong Easter-related boost in the prior quarter. Meantime, government spending growth was little changed (0.8% vs 0.9%). Net trade was a drag, with exports (1.0% vs 2.3%) rising less than imports (1.5% vs 2.3%); while inventories subtracted 0.5ppts. In contrast, private investment surged (2.9% vs 0.2%), contributing 0.5ppts and marking its fastest pace since Q1 2021, driven by stronger machinery and equipment spending. Public investment also rebounded (3.0% -3.5%) on the back of renewable energy and water, telecommunications and rail transport projects. The household savings ratio increased (6.4% vs 6.0%). Annually, GDP grew 2.1%, slightly below forecasts of 2.2% and following a 2.0% rise in Q2.