Gross Domestic Product — Value Standard Local Currency in Australia
Australia: Gross Domestic Product — Value Standard Local Currency was 2.78 million million SLC in 2024. ◆ Volatile
Gross Domestic Product — Value Standard Local Currency in Australia, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
In 2024, gross domestic product — value standard local currency in Australia stood at 2.78 million million SLC. That is the highest value across all 55 years on record.
That represents a change of up 4.1% on the previous year and up 71.3% over ten years.
Over the whole period, gross domestic product — value standard local currency in Australia peaked at 2.78 million million SLC in 2024 and was at its lowest, 40,373 million SLC, in 1970.
Australia ranks 85th of 218 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Value Standard Local Currency in Australia, year by year
| Year | million SLC | Change |
|---|---|---|
| 1970 | 40,373 million SLC | — |
| 1971 | 44,548 million SLC | +10.3% |
| 1972 | 49,822 million SLC | +11.8% |
| 1973 | 60,363 million SLC | +21.2% |
| 1974 | 71,256 million SLC | +18.0% |
| 1975 | 83,349 million SLC | +17.0% |
| 1976 | 96,205 million SLC | +15.4% |
| 1977 | 105,059 million SLC | +9.2% |
| 1978 | 118,753 million SLC | +13.0% |
| 1979 | 134,614 million SLC | +13.4% |
| 1980 | 152,360 million SLC | +13.2% |
| 1981 | 175,860 million SLC | +15.4% |
| 1982 | 189,414 million SLC | +7.7% |
| 1983 | 213,693 million SLC | +12.8% |
| 1984 | 235,503 million SLC | +10.2% |
| 1985 | 260,875 million SLC | +10.8% |
| 1986 | 286,366 million SLC | +9.8% |
| 1987 | 324,582 million SLC | +13.3% |
| 1988 | 368,280 million SLC | +13.5% |
| 1989 | 404,703 million SLC | +9.9% |
| 1990 | 415,332 million SLC | +2.6% |
| 1991 | 423,280 million SLC | +1.9% |
| 1992 | 444,229 million SLC | +4.9% |
| 1993 | 466,617 million SLC | +5.0% |
| 1994 | 495,846 million SLC | +6.3% |
| 1995 | 528,969 million SLC | +6.7% |
| 1996 | 556,665 million SLC | +5.2% |
| 1997 | 589,240 million SLC | +5.9% |
| 1998 | 621,807 million SLC | +5.5% |
| 1999 | 662,674 million SLC | +6.6% |
| 2000 | 707,402 million SLC | +6.7% |
| 2001 | 756,446 million SLC | +6.9% |
| 2002 | 803,108 million SLC | +6.2% |
| 2003 | 864,089 million SLC | +7.6% |
| 2004 | 925,442 million SLC | +7.1% |
| 2005 | 999,585 million SLC | +8.0% |
| 2006 | 1.09 million million SLC | +8.9% |
| 2007 | 1.18 million million SLC | +8.3% |
| 2008 | 1.26 million million SLC | +6.9% |
| 2009 | 1.30 million million SLC | +3.4% |
| 2010 | 1.42 million million SLC | +8.8% |
| 2011 | 1.50 million million SLC | +5.8% |
| 2012 | 1.54 million million SLC | +2.4% |
| 2013 | 1.60 million million SLC | +4.0% |
| 2014 | 1.62 million million SLC | +1.6% |
| 2015 | 1.66 million million SLC | +2.1% |
| 2016 | 1.76 million million SLC | +6.0% |
| 2017 | 1.84 million million SLC | +4.8% |
| 2018 | 1.95 million million SLC | +5.7% |
| 2019 | 1.98 million million SLC | +1.8% |
| 2020 | 2.09 million million SLC | +5.3% |
| 2021 | 2.33 million million SLC | +11.7% |
| 2022 | 2.57 million million SLC | +10.2% |
| 2023 | 2.67 million million SLC | +4.1% |
| 2024 | 2.78 million million SLC | +4.1% |
Australia compared with similar countries
- Australia's 2.78 million million SLC is above the median for high income countries, which is 257,567 million SLC, 10.8× the median. (72 countries reporting)
- Australia's 2.78 million million SLC is above the median for East Asia & Pacific, which is 725,630 million SLC, 3.8× the median. (27 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 80,434 million SLC | 40,373 million SLC | 134,614 million SLC | 10 |
| 1980s | 261,164 million SLC | 152,360 million SLC | 404,703 million SLC | 10 |
| 1990s | 520,466 million SLC | 415,332 million SLC | 662,674 million SLC | 10 |
| 2000s | 989,048 million SLC | 707,402 million SLC | 1.30 million million SLC | 10 |
| 2010s | 1.69 million million SLC | 1.42 million million SLC | 1.98 million million SLC | 10 |
| 2020s | 2.49 million million SLC | 2.09 million million SLC | 2.78 million million SLC | 5 |
Countries ranked near Australia
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 in Australia?
- Gross domestic product — value standard local currency in Australia was 2.78 million million SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value standard local currency recorded in Australia?
- The highest recorded value was 2.78 million million SLC in 2024.
- What is the lowest gross domestic product — value standard local currency recorded in Australia?
- The lowest recorded value was 40,373 million SLC in 1970.
- How does Australia rank for gross domestic product — value standard local currency?
- Australia ranks 85th out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency rising or falling in Australia?
- Over the last ten years it is up 71.3%. The long-run trend across the full record is volatile.
- Where does this Australia data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value Standard Local Currency. Statizoid updates them automatically from the source API.
Download this data
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).