Australia GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Australia expanded 2.80 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Australia is reported by the Australian Bureau of Statistic. GDP Annual Growth Rate in Australia averaged 3.48 Percent from 1960 until 2013, reaching an all time high of 9 Percent in the second quarter of 1964 and a record low of -3.40 Percent in the second quarter of 1983. Australia's economy is dominated by the service sector (65 percent of total GDP). Yet its economic success is based on abundance of agricultural and mineral resources. The most important and the fastest growing sector of the economy is industry with mining accounting for 13.5 percent of GDP, manufacturing for 11 percent and construction for 9.5 percent. Agriculture accounts for the remaining 2 percent of the GDP. This page provides - Australia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-20

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.80 2.30 9.00 -3.40 2.00 | 2013/12 1960 - 2013 Percent Quarterly


Australia GDP Annual Growth Rate

CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-06-05 02:30 AM Australia
GDP Growth Rate YoY
Q1 2013 2.5% 3.1% 2.7% 2.06%
2013-09-04 02:30 AM Australia
GDP Growth Rate YoY
Q2 2013 2.6% 2.5% 2.5% 2.81%
2013-12-04 12:30 AM Australia
GDP Growth Rate YoY
Q3 2013 2.3% 2.6% 2.6% 2.14%
2014-03-05 12:30 AM Australia
GDP Growth Rate YoY
Q4 2013 2.8% 2.3% 2.5% 2%
2014-06-04 02:30 AM Australia
GDP Growth Rate YoY
Q1 2014 2.1%
2014-09-03 02:30 AM Australia
GDP Growth Rate YoY
Q2 2014 2.14%

GDP Last Previous Highest Lowest Forecast Unit
GDP Growth Rate 0.80 2013-12-31 0.60 4.50 -2.00 0.55 2013-12-31 Percent [+]
GDP Annual Growth Rate 2.80 2013-12-31 2.30 9.00 -3.40 2.00 2013-12-31 Percent [+]
GDP per capita 37228.20 2012-12-31 36584.99 37228.20 13267.30 37799.72 2013-12-31 USD [+]
GDP per capita PPP 35668.77 2012-12-31 35052.51 35668.77 19724.69 36225.94 2013-12-31 USD [+]
GDP Constant Prices 390572.00 2013-11-15 387481.00 390572.00 57355.00 396591.89 2014-03-31 AUD Million [+]
Gross Fixed Capital Formation 105451.00 2013-11-15 106746.00 106766.00 8224.00 106060.80 2014-03-31 AUD Million [+]
Gross National Product 370481.00 2013-11-15 367620.00 370481.00 128904.00 375222.63 2014-03-31 AUD Million [+]
GDP 1520.60 2012-12-31 1384.20 1520.60 18.60 1710.64 2013-12-31 USD Billion [+]

GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


Australia's Jobless Rate Down to 5.8% in March  
Australia's seasonally adjusted unemployment rate decreased by 0.2 percentage points to 5.8 percent in March while the number of people employed increased by 18,100 to 11,553,200.
Australia Reports Third Monthly Trade Surplus in February  
Australia's trade surplus narrowed in February when compared to a downwardly revised result in the previous month, but performed better than analysts had expected.
Australia Leaves Rate Steady at 2.5%  
At its April 1st, 2014 meeting, the Reserve Bank of Australia decided to leave the cash rate unchanged at 2.5 percent, as it considers the current policy stance appropriate to support demand and growth.
Australia's Unemployment Rate Stable in February  
Australia's seasonally adjusted unemployment rate stayed at 6 percent in February as more people joined the labour force. The employment surged by 47,300, the biggest gain in 13 months and above forecasts.
Australia's Trade Surplus Hits 29-Month High in January  
Australia's trade surplus surged to $1,433m in seasonally adjusted terms in the first month of 2014, the highest value since August of 2011 as exports grew faster than imports.
Australian Economy Expands 0.8% in Q4  
Australian GDP grew faster than expected in seasonally adjusted volume terms in the last quarter of 2013. Expansion was mostly driven by exports and consumption while fixed investment declined.
Australia Leaves Monetary Policy Unchanged  
At its March 4th, the Reserve Bank of Australia decided to leave cash rate unchanged at 2.5 percent for the sixth straight meeting, after sending a strong signal last month it wanted a period of interest rate stability.
Australia's Unemployment Rate Up to 6% in January  
Australia's seasonally adjusted unemployment rate increased by 0.2 percentage points to 6.0 percent in January, the highest level since July of 2003.
Australia Reports Trade Surplus in December  
Australia posted an unexpected trade surplus of $468m in December 2013, an increase of $385m (464%) on the surplus in November 2013. Exports rose 4% supported by the weakened Aussie dollar, while imports grew 2%.
Reserve Bank of Australia Leaves Rate on Hold  
At its February 4th, 2014 meeting, Reserve Bank of Australia decided to leave the cash rate unchanged at 2.5 percent, as widely expected, as present monetary policy is considered appropriate to foster growth in demand and keep inflation within the 2-3 percent target.


Chile Leaves Monetary Policy Unchanged  
At its April 17th, 2014 meeting, Central Bank of Chile left the benchmark interest rate on hold at 4 percent, following last month's cut, citing low output and demand, but hinted possible future rate cuts, depending on domestic and external conditions.
Russia Unemployment Drops in March  
Russian jobless rate fell for the first time in four months to 5.4 percent, after remaining stable at 5.6 percent in the previous two months.
Canada Inflation Rises Above Forecasts in March  
The annual consumer prices in Canada accelerated to 1.5 percent in March of 2014 following a 1.1 increase in the previous month, as energy prices surged.
US Jobless Claims Rise Slightly  
In the week ending April 12, the advance figure for seasonally adjusted initial claims was 304,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 300,000 to 302,000. There were no special factors impacting this week's initial claims.
Brazil Unemployment Rate Down to 5%  
In March of 2014, Brazil’s jobless rate fell by 0.1 percentage point to 5 percent, below market forecasts. A year earlier, unemployment reached 5.7 percent.
Dutch Unemployment Rate Falls for the First Time in 2014  
In March of 2014, Netherlands’ seasonally adjusted jobless rate fell to 8.7 percent from 8.8 percent in the previous month and 8.1 percent a year earlier, as more people left permanently the labor market rather than found jobs.
Singaporean Trade Surplus Narrows Sharply in March  
The trade surplus decreased 51.1 percent in March of 2014 over a year earlier and 47.2 percent from February to SGD 2.3 billion. Imports rose at a faster pace than exports, as sales of pharmaceuticals and electronics fell, while shipments of petrochemicals and re-exports contributed to overall increase.
Mozambique Leaves Lending Rate Steady at 8.25%  
At its April 16th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent for the sixth consecutive meeting, saying this was consistent with meeting domestic economic targets for 2014.
Spanish Trade Deficit Narrows to 4-Month Low  
In February of 2014, Spanish trade gap decreased to € 1.62 billion, down from € 2.82 billion in the previous month. Compared with the same month a year earlier, the trade deficit widened 37 percent.
Angolan Inflation Rate Down To 7.32% in March  
The annual consumer prices in Angola decelerated for the second consecutive month to 7.32 percent in March of 2014, from 7.48 percent recorded in February of 2014.

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