Annual GDP growth in Australia
Australia: Annual GDP growth was 3.4% in 2023. ▼ Falling
Latest (2023)
3.4%
Change on year
down 18.9%
World rank
92nd
of 211 countries
All-time high
4.2%
in 2022
All-time low
-0.1%
in 2020
Years of data
24
2000–2023
Annual GDP growth in Australia, 2000–2023
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
Australia recorded 3.4% for annual gdp growth in 2023.
That represents a change of down 18.9% on the previous year and up 32.3% 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 92nd out of 211 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently falling across the 24 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.2% | 1.9% | 4.2% | 10 |
| 2010s | 2.6% | 2.2% | 3.9% | 10 |
| 2020s | 2.4% | -0.1% | 4.2% | 4 |
Countries ranked near Australia
More economy & growth data for Australia
- External balance on goods and services as a percent of GDP 0.6% (2025)
- Inflation of consumer prices 2.9% (2025)
- GDP per capita 61,369 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 5.3% (2025)
- Gross domestic product (GDP) 1.69 trillion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 61,369 constant 2015 US$ (2025)
- DEC alternative conversion factor 1.55 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) -521.00 million current LCU (2025)
- Net secondary income (Net current transfers from abroad) -337.19 million current US$ (2025)
- Taxes less subsidies on products 177.87 billion current LCU (2025)
Frequently asked questions
- What is annual gdp growth in Australia?
- Annual gdp growth in Australia was 3.4% in 2023, 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 92nd out of 211 countries with data for 2023.
- Is annual gdp growth rising or falling in Australia?
- Over the last ten years it is up 32.3%. 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.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Annual GDP growth (%)