Annual GDP growth in Australia
Australia: Annual GDP growth was 1.4% in 2024. ▼ Falling
Annual GDP growth in Australia, 2000–2024
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
Australia recorded 1.4% for annual gdp growth in 2024.
That represents a change of down 61.7% on the previous year and down 47.3% over ten years.
Over the whole period, annual gdp growth in Australia peaked at 4.2% in 2022 and was at its lowest, -0.1%, in 2020.
That places Australia 160th out of 212 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 25 years of available data.
Annual GDP growth in Australia, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 3.9% | — |
| 2001 | 2.0% | -48.2% |
| 2002 | 4.0% | +94.6% |
| 2003 | 3.1% | -21.8% |
| 2004 | 4.2% | +36.6% |
| 2005 | 3.2% | -25.1% |
| 2006 | 2.8% | -12.3% |
| 2007 | 3.8% | +36.8% |
| 2008 | 3.6% | -4.5% |
| 2009 | 1.9% | -46.1% |
| 2010 | 2.2% | +13.3% |
| 2011 | 2.4% | +8.1% |
| 2012 | 4.0% | +65.3% |
| 2013 | 2.6% | -32.9% |
| 2014 | 2.6% | -1.9% |
| 2015 | 2.2% | -16.9% |
| 2016 | 2.8% | +27.8% |
| 2017 | 2.3% | -17.0% |
| 2018 | 2.9% | +25.3% |
| 2019 | 2.2% | -23.7% |
| 2020 | -0.1% | -105.9% |
| 2021 | 2.0% | -1646.2% |
| 2022 | 4.2% | +111.4% |
| 2023 | 3.6% | -15.8% |
| 2024 | 1.4% | -61.7% |
Australia compared with similar countries
- Australia's 1.4% is below the median for high income countries, which is 2.1%, 64% of the median. (83 countries reporting)
- Australia's 1.4% is below the median for East Asia & Pacific, which is 3.3%, 42% of the median. (36 countries reporting)
Biggest year-on-year movements
Years where Annual GDP growth in Australia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2021 | +1646.2% | -0.1% | 2.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.2% | 1.9% | 4.2% | 10 |
| 2010s | 2.6% | 2.2% | 4.0% | 10 |
| 2020s | 2.2% | -0.1% | 4.2% | 5 |
Countries ranked near Australia
- 157 Central African Republic 1.5% compare
- 158 Mexico 1.4% compare
- 159 Nauru 1.4% compare
- 161 Switzerland 1.3% compare
- 162 New Zealand 1.3% compare
- 163 Czechia 1.2% compare
More economy & growth data for Australia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.36 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.26 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -4.55 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0025 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -164.69 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 36.52 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -32.02 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0203 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 1,323 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 20.24 % change on previous year (2025)
Frequently asked questions
- What is annual gdp growth in Australia?
- Annual gdp growth in Australia was 1.4% in 2024, according to World Bank – processed by Our World in Data.
- What is the highest annual gdp growth recorded in Australia?
- The highest recorded value was 4.2% in 2022.
- What is the lowest annual gdp growth recorded in Australia?
- The lowest recorded value was -0.1% in 2020.
- How does Australia rank for annual gdp growth?
- Australia ranks 160th out of 212 countries with data for 2024.
- Is annual gdp growth rising or falling in Australia?
- Over the last ten years it is down 47.3%. The long-run trend across the full record is falling.
- Where does this Australia data come from?
- The figures come from World Bank – processed by Our World in Data, published as part of Annual GDP growth. Statizoid updates them automatically from the source API.
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About this data
Annual GDP growth (%).