Australia GDP Growth Rate 1959-2015 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in Australia expanded 0.20 percent in the second quarter of 2015 over the previous quarter. GDP Growth Rate in Australia averaged 0.87 percent from 1959 until 2015, reaching an all time high of 4.40 percent in the first quarter of 1976 and a record low of -2 percent in the second quarter of 1974. GDP Growth Rate in Australia is reported by the Australian Bureau of Statistics.

Australia GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.90 4.40 -2.00 1959 - 2015 percent Quarterly
Australia's economy is dominated by its services sector, yet its economic success is based on abundance of agricultural and mineral resources. Australia's comparative advantage in the export of primary products is a reflection of the natural wealth of the Australian continent and its small domestic market. The country is a major regional financial centre and a vital component of the global financial system. This page provides - Australia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Australia GDP Growth Rate - was last refreshed on Saturday, September 5, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-03-04 12:30 AM Q4 0.5% 0.4%(R) 0.5% 0.6%
2015-06-03 02:30 AM Q1 0.9% 0.5% 0.7% 0.6%
2015-09-02 02:30 AM Q2 0.2% 0.9% 0.4% 0.5%
2015-12-02 12:30 AM Q3 0.2% 0.57%


Australian Economy Grows 0.2% in Q2


Australian GDP expanded 0.2 percent in the June quarter of 2015, slowing from 0.9 percent growth in the previous quarter and missing market forecasts. It is the weakest growth since the first quarter of 2013, as positive contributions from final consumption expenditure and investment were unable to offset a decline in net exports.

Final consumption expenditure grew 0.9 percent, adding 0.7 percentage points to GDP growth in the June quarter. Gross fixed capital formation advanced 0.4 percent, contributing 0.2 percentage points to growth. In contrast, net exports detracted 0.6 percentage points from GDP growth in the June quarter of 2015. Exports of goods and services dropped 3.3 percent and imports of goods and services fell 0.7 percent.

By industry, the main factors to the slowdown in GDP growth were mining (-3.0 percent) and construction (-0.6 percent). In contrast, positive contributions came from financial, transport and health industries.

Through the year, the economy grew 2.0 percent, slowing from an upwardly revised 2.5 percent expansion in the fist quarter of 2015. Positive contributions came from household final consumption (+2.5 percent), government final consumption (+4.0 percent) and investment (+0.4 percent). In trend terms, the largest contributors came from financial and insurance services (+0.6 percentage points), information media and telecommunications (+0.3 percentage points) and health care and social assistance (+0.3 percentage points). In contrast, the largest detractors were construction (-0.2 percentage points) and professional, scientific and technical services (-0.1 percentage points).

Real gross domestic income was flat, while the volume measure of GDP increased by 0.5 percent, the difference reflecting a decrease of 2.5 in the terms of trade. Real net national disposable income decreased by 0.3 percent compared with 2.2 percent for GDP.

ABS l Rida Husna l rida@tradingeconomics.com
9/2/2015 10:15:35 AM


Recent Releases

Australian Economy Expands 0.9% in Q1
Australian GDP growth accelerated to 0.9 percent in the March quarter compared to 0.5 percent in late 2014 and beating forecasts of 0.7 percent. Net exports and final consumption expenditure contributed positively to the expansion while investments declined.
Published on 2015-06-03

Australian Economy Grows 0.5% in Q4
Australian GDP advanced 0.5 percent in the fourth quarter of 2014, rising from upwardly revised 0.4 percent expansion reported in the previous three month period and matching market estimates. Net exports and consumption contributed the most to the growth while changes in inventories dragged the expansion down.
Published on 2015-03-04

Australian Economy Slows in Q3
Australian GDP grew 0.3 percent in the third quarter of 2014, down from 0.5 percent expansion reported in the previous three month period and below markets expectations. Net exports and consumption contributed the most to the growth while investment dragged the expansion down.
Published on 2014-12-03

Australian Economy Grows 0.5% in Q2
In the second quarter of 2014, Australia's GDP grew 0.5 percent in seasonally adjusted terms, beating market expectations and driven by consumption and private investment amid weakening exports.
Published on 2014-09-03


Australia GDP Last Previous Highest Lowest Unit
GDP 1453.77 1560.37 1560.37 18.60 USD Billion [+]
GDP Growth Rate 0.20 0.90 4.40 -2.00 percent [+]
GDP Annual Growth Rate 2.00 2.50 9.00 -3.40 percent [+]
GDP Constant Prices 401816.00 401153.00 401816.00 59416.00 AUD Million [+]
Gross National Product 378376.00 380402.00 380402.00 52620.00 AUD Million [+]
GDP per capita 37828.25 37497.07 37828.25 13397.88 USD [+]
Gross Fixed Capital Formation 102203.00 101824.00 108625.00 9150.00 AUD Million [+]
GDP per capita PPP 43218.75 42809.93 43218.75 27898.88 USD [+]
GDP From Agriculture 9047.00 9261.00 9321.00 3045.00 AUD Million [+]
GDP From Construction 30606.00 30784.00 31720.00 7506.00 AUD Million [+]
GDP From Manufacturing 24724.00 24522.00 27976.00 14947.00 AUD Million [+]
GDP From Mining 34232.00 35306.00 35306.00 5812.00 AUD Million [+]
GDP From Public Administration 21651.00 21359.00 21651.00 7323.00 AUD Million [+]
GDP From Utilities 10719.00 10729.00 11003.00 3936.00 AUD Million [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.20 Jun/15 0.90 4.40 -2.00 percent [+]
Brazil -1.90 Jun/15 -0.70 3.90 -3.90 percent [+]
Canada -0.10 Jun/15 -0.10 3.33 -1.80 percent [+]
China 1.70 Jun/15 1.40 2.50 1.40 percent [+]
Euro Area 0.30 Jun/15 0.40 1.30 -2.90 percent [+]
France 0.00 Jun/15 0.60 7.70 -5.00 percent [+]
Germany 0.40 Jun/15 0.30 2.00 -4.50 percent [+]
India 2.06 Mar/15 1.36 5.30 -1.70 percent [+]
Indonesia 3.78 Jun/15 -0.18 3.83 -3.57 percent [+]
Italy 0.30 Jun/15 0.40 6.00 -3.00 percent [+]
Japan -0.40 Jun/15 1.00 3.20 -4.00 percent [+]
Mexico 0.50 Jun/15 0.40 2.90 -6.60 percent [+]
Netherlands 0.10 Jun/15 0.60 2.00 -2.20 percent [+]
Russia -1.29 Mar/15 -0.55 4.10 -5.40 percent [+]
South Korea 0.30 Jun/15 0.80 6.80 -7.00 percent [+]
Spain 1.00 Jun/15 0.90 1.60 -1.60 percent [+]
Switzerland 0.20 Jun/15 -0.20 2.10 -1.90 percent [+]
Turkey 1.30 Mar/15 0.80 6.69 -7.57 percent [+]
United Kingdom 0.70 Jun/15 0.40 5.00 -2.70 percent [+]
United States 3.70 Jun/15 0.60 16.90 -10.00 percent [+]