Gross domestic product (GDP) in Australia
Australia: Gross domestic product (GDP) was 1.70 trillion international-$ in 2021 prices in 2023. ◆ Volatile
Latest (2023)
1.70 trillion international-$ in 2021 prices
Change on year
up 0.9%
World rank
19th
of 184 countries
All-time high
1.70 trillion international-$ in 2021 prices
in 2023
All-time low
122.59 billion international-$ in 2021 prices
in 1952
Years of data
74
1950–2023
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.
Gross domestic product (GDP) in Australia, year by year
| Year | international-$ in 2021 prices | Change |
|---|---|---|
| 1950 | 128.19 billion international-$ in 2021 prices | — |
| 1951 | 124.06 billion international-$ in 2021 prices | -3.2% |
| 1952 | 122.59 billion international-$ in 2021 prices | -1.2% |
| 1953 | 137.92 billion international-$ in 2021 prices | +12.5% |
| 1954 | 148.03 billion international-$ in 2021 prices | +7.3% |
| 1955 | 155.35 billion international-$ in 2021 prices | +4.9% |
| 1956 | 157.83 billion international-$ in 2021 prices | +1.6% |
| 1957 | 158.97 billion international-$ in 2021 prices | +0.7% |
| 1958 | 171.39 billion international-$ in 2021 prices | +7.8% |
| 1959 | 182.58 billion international-$ in 2021 prices | +6.5% |
| 1960 | 185.37 billion international-$ in 2021 prices | +1.5% |
| 1961 | 191.04 billion international-$ in 2021 prices | +3.1% |
| 1962 | 201.46 billion international-$ in 2021 prices | +5.5% |
| 1963 | 215.83 billion international-$ in 2021 prices | +7.1% |
| 1964 | 226.46 billion international-$ in 2021 prices | +4.9% |
| 1965 | 229.68 billion international-$ in 2021 prices | +1.4% |
| 1966 | 245.46 billion international-$ in 2021 prices | +6.9% |
| 1967 | 256.64 billion international-$ in 2021 prices | +4.6% |
| 1968 | 275.99 billion international-$ in 2021 prices | +7.5% |
| 1969 | 297.07 billion international-$ in 2021 prices | +7.6% |
| 1970 | 308.80 billion international-$ in 2021 prices | +3.9% |
| 1971 | 320.95 billion international-$ in 2021 prices | +3.9% |
| 1972 | 331.35 billion international-$ in 2021 prices | +3.2% |
| 1973 | 346.08 billion international-$ in 2021 prices | +4.4% |
| 1974 | 334.85 billion international-$ in 2021 prices | -3.2% |
| 1975 | 341.37 billion international-$ in 2021 prices | +1.9% |
| 1976 | 356.68 billion international-$ in 2021 prices | +4.5% |
| 1977 | 363.13 billion international-$ in 2021 prices | +1.8% |
| 1978 | 379.90 billion international-$ in 2021 prices | +4.6% |
| 1979 | 392.12 billion international-$ in 2021 prices | +3.2% |
| 1980 | 404.87 billion international-$ in 2021 prices | +3.3% |
| 1981 | 423.15 billion international-$ in 2021 prices | +4.5% |
| 1982 | 413.81 billion international-$ in 2021 prices | -2.2% |
| 1983 | 437.97 billion international-$ in 2021 prices | +5.8% |
| 1984 | 454.32 billion international-$ in 2021 prices | +3.7% |
| 1985 | 466.61 billion international-$ in 2021 prices | +2.7% |
| 1986 | 479.62 billion international-$ in 2021 prices | +2.8% |
| 1987 | 518.99 billion international-$ in 2021 prices | +8.2% |
| 1988 | 548.37 billion international-$ in 2021 prices | +5.7% |
| 1989 | 568.73 billion international-$ in 2021 prices | +3.7% |
| 1990 | 568.73 billion international-$ in 2021 prices | -0.0% |
| 1991 | 568.05 billion international-$ in 2021 prices | -0.1% |
| 1992 | 591.39 billion international-$ in 2021 prices | +4.1% |
| 1993 | 612.45 billion international-$ in 2021 prices | +3.6% |
| 1994 | 640.77 billion international-$ in 2021 prices | +4.6% |
| 1995 | 675.53 billion international-$ in 2021 prices | +5.4% |
| 1996 | 714.36 billion international-$ in 2021 prices | +5.7% |
| 1997 | 749.88 billion international-$ in 2021 prices | +5.0% |
| 1998 | 774.14 billion international-$ in 2021 prices | +3.2% |
| 1999 | 811.13 billion international-$ in 2021 prices | +4.8% |
| 2000 | 837.16 billion international-$ in 2021 prices | +3.2% |
| 2001 | 864.91 billion international-$ in 2021 prices | +3.3% |
| 2002 | 888.43 billion international-$ in 2021 prices | +2.7% |
| 2003 | 927.47 billion international-$ in 2021 prices | +4.4% |
| 2004 | 958.76 billion international-$ in 2021 prices | +3.4% |
| 2005 | 1.03 trillion international-$ in 2021 prices | +7.0% |
| 2006 | 1.05 trillion international-$ in 2021 prices | +2.0% |
| 2007 | 1.07 trillion international-$ in 2021 prices | +2.6% |
| 2008 | 1.13 trillion international-$ in 2021 prices | +5.2% |
| 2009 | 1.13 trillion international-$ in 2021 prices | +0.1% |
| 2010 | 1.24 trillion international-$ in 2021 prices | +9.8% |
| 2011 | 1.31 trillion international-$ in 2021 prices | +5.8% |
| 2012 | 1.31 trillion international-$ in 2021 prices | -0.4% |
| 2013 | 1.36 trillion international-$ in 2021 prices | +3.9% |
| 2014 | 1.36 trillion international-$ in 2021 prices | +0.3% |
| 2015 | 1.29 trillion international-$ in 2021 prices | -5.3% |
| 2016 | 1.38 trillion international-$ in 2021 prices | +7.1% |
| 2017 | 1.42 trillion international-$ in 2021 prices | +3.1% |
| 2018 | 1.49 trillion international-$ in 2021 prices | +4.9% |
| 2019 | 1.54 trillion international-$ in 2021 prices | +2.9% |
| 2020 | 1.58 trillion international-$ in 2021 prices | +2.9% |
| 2021 | 1.64 trillion international-$ in 2021 prices | +3.6% |
| 2022 | 1.69 trillion international-$ in 2021 prices | +2.9% |
| 2023 | 1.70 trillion international-$ in 2021 prices | +0.9% |
Australia compared with similar countries
- Australia's 1.70 trillion international-$ in 2021 prices is above the median for high income countries, which is 277.84 billion international-$ in 2021 prices, 6.1× the median. (66 countries reporting)
- Australia's 1.70 trillion international-$ in 2021 prices is above the median for East Asia & Pacific, which is 596.79 billion international-$ in 2021 prices, 2.9× the median. (19 countries reporting)
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
- 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$), annual growth rate 20.24 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Australia?
- Gross domestic product (gdp) in Australia was 1.70 trillion international-$ 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.
Download this data
CSV · JSON — 74 observations, free to reuse under CC BY 4.0 (Our World in Data).
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.