Gross Domestic Product — Value Standard Local Currency, annual growth in Australia
Australia: Gross Domestic Product — Value Standard Local Currency, annual growth was 4.1 % change on previous year in 2024. ◆ Volatile
Gross Domestic Product — Value Standard Local Currency, annual growth in Australia, 1971–2024
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
Australia recorded 4.1 % change on previous year for gross domestic product — value standard local currency, annual growth in 2024.
The figure is up 163.8% over ten years.
Over the whole period, gross domestic product — value standard local currency, annual growth in Australia peaked at 21.16 % change on previous year in 1973 and was at its lowest, 1.55 % change on previous year, in 2014.
That places Australia 170th out of 218 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Value Standard Local Currency, annual growth in Australia, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1971 | 10.34 % change on previous year | — |
| 1972 | 11.84 % change on previous year | +14.5% |
| 1973 | 21.16 % change on previous year | +78.7% |
| 1974 | 18.05 % change on previous year | -14.7% |
| 1975 | 16.97 % change on previous year | -6.0% |
| 1976 | 15.42 % change on previous year | -9.1% |
| 1977 | 9.2 % change on previous year | -40.3% |
| 1978 | 13.03 % change on previous year | +41.6% |
| 1979 | 13.36 % change on previous year | +2.5% |
| 1980 | 13.18 % change on previous year | -1.3% |
| 1981 | 15.42 % change on previous year | +17.0% |
| 1982 | 7.71 % change on previous year | -50.0% |
| 1983 | 12.82 % change on previous year | +66.3% |
| 1984 | 10.21 % change on previous year | -20.4% |
| 1985 | 10.77 % change on previous year | +5.6% |
| 1986 | 9.77 % change on previous year | -9.3% |
| 1987 | 13.35 % change on previous year | +36.6% |
| 1988 | 13.46 % change on previous year | +0.9% |
| 1989 | 9.89 % change on previous year | -26.5% |
| 1990 | 2.63 % change on previous year | -73.4% |
| 1991 | 1.91 % change on previous year | -27.1% |
| 1992 | 4.95 % change on previous year | +158.6% |
| 1993 | 5.04 % change on previous year | +1.8% |
| 1994 | 6.26 % change on previous year | +24.3% |
| 1995 | 6.68 % change on previous year | +6.6% |
| 1996 | 5.24 % change on previous year | -21.6% |
| 1997 | 5.85 % change on previous year | +11.8% |
| 1998 | 5.53 % change on previous year | -5.6% |
| 1999 | 6.57 % change on previous year | +18.9% |
| 2000 | 6.75 % change on previous year | +2.7% |
| 2001 | 6.93 % change on previous year | +2.7% |
| 2002 | 6.17 % change on previous year | -11.0% |
| 2003 | 7.59 % change on previous year | +23.1% |
| 2004 | 7.1 % change on previous year | -6.5% |
| 2005 | 8.01 % change on previous year | +12.8% |
| 2006 | 8.95 % change on previous year | +11.7% |
| 2007 | 8.32 % change on previous year | -7.0% |
| 2008 | 6.94 % change on previous year | -16.6% |
| 2009 | 3.4 % change on previous year | -51.0% |
| 2010 | 8.76 % change on previous year | +157.7% |
| 2011 | 5.79 % change on previous year | -33.9% |
| 2012 | 2.43 % change on previous year | -58.0% |
| 2013 | 4.04 % change on previous year | +65.9% |
| 2014 | 1.55 % change on previous year | -61.5% |
| 2015 | 2.08 % change on previous year | +33.8% |
| 2016 | 6.02 % change on previous year | +189.5% |
| 2017 | 4.8 % change on previous year | -20.2% |
| 2018 | 5.72 % change on previous year | +19.1% |
| 2019 | 1.76 % change on previous year | -69.1% |
| 2020 | 5.26 % change on previous year | +198.1% |
| 2021 | 11.72 % change on previous year | +123.0% |
| 2022 | 10.18 % change on previous year | -13.2% |
| 2023 | 4.1 % change on previous year | -59.8% |
| 2024 | 4.1 % change on previous year | -0.0% |
Biggest year-on-year movements
Years where Gross Domestic Product — Value Standard Local Currency, annual 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 |
|---|---|---|---|
| 2020 | +198.1% | 1.76 % change on previous year | 5.26 % change on previous year |
| 2016 | +189.5% | 2.08 % change on previous year | 6.02 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 14.37 % change on previous year | 9.2 % change on previous year | 21.16 % change on previous year | 9 |
| 1980s | 11.66 % change on previous year | 7.71 % change on previous year | 15.42 % change on previous year | 10 |
| 1990s | 5.07 % change on previous year | 1.91 % change on previous year | 6.68 % change on previous year | 10 |
| 2000s | 7.02 % change on previous year | 3.4 % change on previous year | 8.95 % change on previous year | 10 |
| 2010s | 4.29 % change on previous year | 1.55 % change on previous year | 8.76 % change on previous year | 10 |
| 2020s | 7.07 % change on previous year | 4.1 % change on previous year | 11.72 % change on previous year | 5 |
Countries ranked near Australia
- 167 Tuvalu 4.26 % change on previous year compare
- 168 Jamaica 4.13 % change on previous year compare
- 169 Cameroon 4.12 % change on previous year compare
- 171 Gabon 4.01 % change on previous year compare
- 172 British Virgin Islands 3.95 % change on previous year compare
- 173 Montserrat 3.87 % change on previous year 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 — value standard local currency, annual growth in Australia?
- Gross domestic product — value standard local currency, annual growth in Australia was 4.1 % change on previous year in 2024, according to Statizoid (derived).
- What is the highest gross domestic product — value standard local currency, annual growth recorded in Australia?
- The highest recorded value was 21.16 % change on previous year in 1973.
- What is the lowest gross domestic product — value standard local currency, annual growth recorded in Australia?
- The lowest recorded value was 1.55 % change on previous year in 2014.
- How does Australia rank for gross domestic product — value standard local currency, annual growth?
- Australia ranks 170th out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency, annual growth rising or falling in Australia?
- Over the last ten years it is up 163.8%. The long-run trend across the full record is volatile.
- Where does this Australia data come from?
- The figures come from Statizoid (derived), published as part of Gross Domestic Product — Value Standard Local Currency, annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 54 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Gross Domestic Product — Value Standard Local Currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross Domestic Product — Value Standard Local Currency Food and Agriculture Organization of the United Nations
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Gross Domestic Product — Value Standard Local Currency. Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.