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. 2014-04-25

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

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Australia GDP Annual Growth Rate
LIST BY COUNTRY


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%
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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 38148.66 2014-06-30 USD [+]
GDP per capita PPP 35668.77 2012-12-31 35052.51 35668.77 19724.69 36550.67 2014-06-30 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 1805.21 2014-06-30 USD Billion [+]
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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.


RELATED NEWS

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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.
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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.
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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.
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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.
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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.
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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%.
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