Gross domestic product (GDP) in Australia
Australia: Gross domestic product (GDP) was 1.70 trillion international-$ in 2021 prices in 2023. ◆ Volatile
Gross domestic product (GDP) in Australia, 1950–2023
Source: Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data. Measured in international-$ in 2021 prices.
Analysis
In 2023, gross domestic product (gdp) in Australia stood at 1.70 trillion international-$ in 2021 prices. That is the highest value across all 74 years on record.
The figure is up 0.9% on the previous year and up 25.2% over ten years.
Over the whole period, gross domestic product (gdp) in Australia peaked at 1.70 trillion international-$ in 2021 prices in 2023 and was at its lowest, 122.59 billion international-$ in 2021 prices, in 1952.
That places Australia 19th out of 184 countries with data for 2023, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 148.69 billion international-$ in 2021 prices | 122.59 billion international-$ in 2021 prices | 182.58 billion international-$ in 2021 prices | 10 |
| 1960s | 232.50 billion international-$ in 2021 prices | 185.37 billion international-$ in 2021 prices | 297.07 billion international-$ in 2021 prices | 10 |
| 1970s | 347.52 billion international-$ in 2021 prices | 308.80 billion international-$ in 2021 prices | 392.12 billion international-$ in 2021 prices | 10 |
| 1980s | 471.64 billion international-$ in 2021 prices | 404.87 billion international-$ in 2021 prices | 568.73 billion international-$ in 2021 prices | 10 |
| 1990s | 670.64 billion international-$ in 2021 prices | 568.05 billion international-$ in 2021 prices | 811.13 billion international-$ in 2021 prices | 10 |
| 2000s | 988.46 billion international-$ in 2021 prices | 837.16 billion international-$ in 2021 prices | 1.13 trillion international-$ in 2021 prices | 10 |
| 2010s | 1.37 trillion international-$ in 2021 prices | 1.24 trillion international-$ in 2021 prices | 1.54 trillion international-$ in 2021 prices | 10 |
| 2020s | 1.65 trillion international-$ in 2021 prices | 1.58 trillion international-$ in 2021 prices | 1.70 trillion international-$ in 2021 prices | 4 |
Countries ranked near Australia
- 16 Canada 2.17 trillion international-$ in 2021 prices compare
- 17 Saudi Arabia 1.96 trillion international-$ in 2021 prices compare
- 18 Egypt 1.96 trillion international-$ in 2021 prices compare
- 20 Thailand 1.65 trillion international-$ in 2021 prices compare
- 21 Poland 1.52 trillion international-$ in 2021 prices compare
- 22 Taiwan 1.45 trillion international-$ in 2021 prices compare
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 gross domestic product (gdp) in Australia?
- Gross domestic product (gdp) in Australia was 1.70 trillion international-$ in 2021 prices in 2023, according to Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Australia?
- The highest recorded value was 1.70 trillion international-$ in 2021 prices in 2023.
- What is the lowest gross domestic product (gdp) recorded in Australia?
- The lowest recorded value was 122.59 billion international-$ in 2021 prices in 1952.
- How does Australia rank for gross domestic product (gdp)?
- Australia ranks 19th out of 184 countries with data for 2023.
- Is gross domestic product (gdp) rising or falling in Australia?
- Over the last ten years it is up 25.2%. The long-run trend across the full record is volatile.
- Where does this Australia data come from?
- The figures come from Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
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About this data
Total economic output of a country or region per year. This data is adjusted for inflation and differences in living costs between countries.