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

The Gross Domestic Product (GDP) in Australia expanded 0.90 percent in the first quarter of 2015 over the previous quarter. GDP Growth Rate in Australia averaged 0.88 percent from 1959 until 2015, reaching an all time high of 4.50 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 Statistic.

  
Australia GDP Growth Rate
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Actual Previous Highest Lowest Dates Unit Frequency
0.90 0.50 4.50 -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 Sunday, August 2, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2014-12-03 12:30 AM Q3 0.3% 0.5% 0.7% 0.76%
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 0.9% 0.5%
2015-12-02 12:30 AM Q3 0.57%


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.

Net exports added 0.5 percentage points to GDP growth in the March quarter 2015 compared to 0.6 percentage points in the December quarter 2014. Exports of goods and services rose 5.0% and imports of goods and services rose 3.1%. Final consumption expenditure grew 0.5 percent adding 0.4 percentage points to the growth. Gross fixed capital formation declined 1.2 percent and subtracting 0.3 percentage points from the growth.

By industry, the main contributors to the increase in GDP growth were mining (0.3 percentage points) and financial and insurance services (0.2 percentage points). The main detractor to growth in GDP was construction (-0.1 percentage points)

Through the year GDP growth was 2.3 percent, the weakest in six quarters. Mining (0.5 percentage points), financial and insurance services (0.5 percentage points), information media and telecommunications (0.3 percentage points) and health care and social assistance (0.3 percentage points) industries were the largest contributors. Professional, scientific and technical services (-0.4 percentage points) and construction (-0.2 percentage points) were the largest detractors in trend terms. Real gross domestic income increased by 0.1%, while the volume measure of GDP increased by 0.6%, the difference reflecting a decrease of 1.9% in the Terms of trade. Real net national disposable income was flat compared with 2.2% for GDP.

ABS | anna@tradingeconomics.com
6/3/2015 3:06:01 AM


Recent Releases

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

Australian Economy Expands 1.1% in Q1
In the first quarter of 2014, Australia GDP expanded on a seasonally adjusted 1.1 percent over the previous three months, the highest growth in the last seven quarters. Growth was driven by net export, consumption expenditure and private investment while changes in inventories and public investment declined. Mining industry and financial services also become the main drivers for the economy during March quarter.
Published on 2014-06-04


Australia GDP Last Previous Highest Lowest Unit
GDP 1453.77 1560.37 1560.37 18.60 USD Billion [+]
GDP Growth Rate 0.90 0.50 4.50 -2.00 percent [+]
GDP Annual Growth Rate 2.30 2.50 9.00 -3.40 percent [+]
GDP Constant Prices 400856.00 397154.00 400856.00 59435.00 AUD Million [+]
Gross National Product 381799.00 380412.00 381799.00 52637.00 AUD Million [+]
GDP per capita 37828.25 37497.07 37828.25 13397.88 USD [+]
Gross Fixed Capital Formation 101326.00 102472.00 108733.00 9150.00 AUD Million [+]
GDP per capita PPP 43218.75 42809.93 43218.75 27898.88 USD [+]
GDP From Agriculture 9131.00 8987.00 9351.00 3045.00 AUD Million [+]
GDP From Construction 30731.00 30983.00 31624.00 7506.00 AUD Million [+]
GDP From Manufacturing 24796.00 24729.00 27976.00 14947.00 AUD Million [+]
GDP From Mining 35173.00 34000.00 35173.00 5812.00 AUD Million [+]
GDP From Public Administration 21044.00 20935.00 21074.00 7323.00 AUD Million [+]
GDP From Utilities 10725.00 10707.00 11007.00 3936.00 AUD Million [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.90 Mar/15 0.50 4.50 -2.00 percent [+]
Brazil -0.20 Mar/15 0.30 4.50 -4.20 percent [+]
Canada -0.10 Mar/15 0.60 3.33 -1.80 percent [+]
China 1.70 Jun/15 1.40 2.50 1.40 percent [+]
Euro Area 0.40 Mar/15 0.40 1.30 -2.90 percent [+]
France 0.60 Mar/15 0.10 7.70 -5.00 percent [+]
Germany 0.30 Mar/15 0.70 2.10 -3.70 percent [+]
India 4.10 Mar/15 3.10 7.40 -3.40 percent [+]
Indonesia -0.18 Mar/15 -2.06 3.83 -3.57 percent [+]
Italy 0.30 Mar/15 0.00 6.00 -3.50 percent [+]
Japan 1.00 Mar/15 0.30 3.20 -4.00 percent [+]
Mexico 0.40 Mar/15 0.70 2.90 -6.60 percent [+]
Netherlands 0.60 Mar/15 0.90 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 Mar/15 0.50 1.90 -2.20 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 2.30 Jun/15 -0.20 16.90 -10.00 percent [+]