Australia GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Australia expanded 3.10 percent in the fourth quarter of 2012 over the same quarter of the previous year. GDP Annual Growth Rate in Australia is reported by the Australian Bureau of Statistic. Historically, from 1960 until 2012, Australia GDP Annual Growth Rate averaged 3.50 Percent reaching an all time high of 9 Percent in June of 1964 and a record low of -3.40 Percent in June 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 includes a chart with historical data for Australia GDP Annual Growth Rate.