Australia - Economic Indicators

Asia-Pacific Daily Briefing: Australian Trade Rides Highs and Lows

Jan 08, 2019

Download the full Asia-Pacific Daily Briefing Australia's trade surplus narrowed in November due to a slump in coal shipments and a pickup in capital and consumption imports. The price of coal dropped over the second half of 2018, with the downtrend only taking a reprieve towards the end of December. But expectations are for coal exports to remain flat in early 2019 given ongoing expectations for global prices to remain subdued. This will keep some...

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GDP Reference Last Previous Units Frequency
Real Private Consumption 2018 Q3 260,656 259,955 Mil. Ch. Jul15-Jun16 AUD, SA Quarterly
Private Consumption 2018 Q3 267,002 265,324 Mil. AUD, SA Quarterly
Real Gross Domestic Product 2018 Q3 460,827 459,664 Mil. Ch. Jul15-Jun16 AUD, SA Quarterly
Real Government Consumption 2018 Q3 87,057 86,634 Mil. Ch. Jul15-Jun16 AUD, SA Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2018 Q3 114,395 113,734 Mil. AUD, SA Quarterly
Real Fixed Investment (gross fixed capital formation) 2018 Q3 111,181 111,119 Mil. Ch. Jul15-Jun16 AUD, SA Quarterly
Government Consumption 2018 Q3 88,948 88,057 Mil. AUD, SA Quarterly
Nominal Gross Domestic Product 2018 Q3 476,274 471,672 Mil. AUD, SA Quarterly
Real Investment 2017 421,493,000,000 419,805,000,000 NCU Annual
Investment 2017 424,279,000,000 419,805,000,000 NCU Annual
Price Reference Last Previous Units Frequency
Producer Price Index (PPI) 2018 Q3 110.3 109.4 2011-12=100, NSA Quarterly
Consumer Price Index (CPI) 2018 Q3 113.5 113 2011-12=100, NSA Quarterly
Labor Reference Last Previous Units Frequency
Agriculture Employment 30 Nov 2018 332.56 320.75 Ths. #, NSA 91 days
Labor Force 2017 12,910,684 12,741,985 # Annual
Unemployment Rate 2017 5.59 5.72 % of total labor force Annual
Wage & Salaries 2016 47,610,000,000 45,343,000,000 NCU Annual
Trade Reference Last Previous Units Frequency
Balance of Goods Nov 2018 1,925 2,013 Mil. AUD, SA Monthly
Exports of Goods Nov 2018 38,445 37,913 Mil. AUD, SA Monthly
Imports of Goods Nov 2018 -36,520 -35,900 Mil. AUD, SA Monthly
Exports of Goods and Services 2018 Q3 110,981 107,590 Mil. AUD, SA Quarterly
Real Exports of Goods and Services 2018 Q3 99,915 99,771 Mil. Ch. Jul15-Jun16 AUD, SA Quarterly
Real Imports of Goods and Services 2018 Q3 97,062 98,522 Mil. Ch. Jul15-Jun16 AUD, SA Quarterly
Imports of Goods and Services 2018 Q3 104,375 103,687 Mil. AUD, SA Quarterly
Net Exports 2018 Q3 6,606 3,903 Mil. AUD, SA Quarterly
Real Net Exports 2018 Q3 2,853 1,249 Mil. Ch. Jul15-Jun16 AUD, SA Quarterly
Current Account Balance 2018 Q3 -10,688 -12,056 Mil. AUD, SA Quarterly
Government Reference Last Previous Units Frequency
Outstanding Public Debt Nov 2018 2,902 2,892 AUD Bil., SA Monthly
Markets Reference Last Previous Units Frequency
Monetary Policy Rate 18 Jan 2019 1.5 1.5 Percent, NSA Daily
Money Market Rate 17 Jan 2019 1.5 1.5 Percent, NSA Business Daily
Average Long-term Government Bond 17 Jan 2019 2.28 2.27 %, NSA Business Daily
Stock Market Index 17 Jan 2019 5,909 5,893 Index, NSA Daily
Lending Rate Jan 2018 5.2 5.2 % p.a., NSA Monthly
Real Estate Reference Last Previous Units Frequency
Residential Building Permits Nov 2018 15,465 17,021 #, SA Monthly
House Price Value 2018 Q3 549,137 555,156 AUD, NSA Quarterly
Non-residential Building Completions 2018 Q3 10,486,074 10,747,997 Ths. Ch. AUD, SA Quarterly
Building Completions 2018 Q3 30,116,054 30,585,266 Ths. Ch. AUD, SA Quarterly
Residential Building Completions 2018 Q3 17,332,172 17,643,123 Ths. Ch. AUD, SA Quarterly
Housing Starts 2018 Q3 29,093 30,363 #, SA Quarterly
Residential Housing Starts 2018 Q3 25,228 27,228 #, SA Quarterly
House Price Index 2018 Q2 149.46 151.34 2011-2012=100 Index, SA Quarterly
Consumer Reference Last Previous Units Frequency
Consumer Confidence Dec 2018 100.24 100.14 Index Long term avg=100, SA Monthly
Retail Sales Nov 2018 27,115 27,000 Mil. AUD, SA Monthly
Personal Income 2018 Q3 14,610 14,651 Mil. Ch. Jul15-Jun16 AUD, SA Quarterly
Real Retail Sales 2018 Q3 80,010 79,828 Mil. Ch. 2016-17 AUD, SA Quarterly
Business Reference Last Previous Units Frequency
Purchasing Managers index Dec 2018 49.5 51.3 Diffusion Index, SA Monthly
Real Change in Inventories 2018 Q3 47 1,223 Mil. Ch. Jul15-Jun16 AUD, SA Quarterly
Change in Inventories 2018 Q3 323 1,185 Mil. AUD, SA Quarterly
Industrial Production 2018 Q3 104.3 105.1 Index Jul15-Jun16=100, SA Quarterly
Business Confidence Aug 2018 101.18 101.34 Index long term avg=100, SA Monthly
Demographics Reference Last Previous Units Frequency
Births 2018 Q2 83.9 79.7 #, NSA Quarterly
Deaths 2018 Q2 37.9 39.9 #, NSA Quarterly
Population 2018 Q2 24,992 24,900 #, NSA Quarterly
Net Migration 2017 849,966 # Annual
Birth Rate 2016 12.5 # per Ths. pop. Annual
Death Rate 2005 6.4 6.5 # per Ths. pop. Annual

Factbook

Background

Central Intelligence Agency

Geography

Location:
Oceania, continent between the Indian Ocean and the South Pacific Ocean
Geographic coordinates:
27 00 S, 133 00 E
Map references:
Oceania
Area:
total: 7,741,220 sq km
land: 7,682,300 sq km
water: 58,920 sq km
note: includes Lord Howe Island and Macquarie Island
country comparison to the world: 7
Area - comparative:
slightly smaller than the US contiguous 48 states
Area comparison map:
Land boundaries:
0 km
Coastline:
25,760 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: 200 nm or to the edge of the continental margin
Climate:
generally arid to semiarid; temperate in south and east; tropical in north
Terrain:
mostly low plateau with deserts; fertile plain in southeast
Elevation:
mean elevation: 330 m
elevation extremes: lowest point: Lake Eyre -15 m
highest point: Mount Kosciuszko 2,228 m
Natural resources:
bauxite, coal, iron ore, copper, tin, gold, silver, uranium, nickel, tungsten, rare earth elements, mineral sands, lead, zinc, diamonds, natural gas, petroleum
note: Australia is the world's largest net exporter of coal accounting for 29% of global coal exports
Land use:
agricultural land: 53.4%
arable land 6.2%; permanent crops 0.1%; permanent pasture 47.1%
forest: 19.3%
other: 27.3% (2014 est.)
Irrigated land:
25,500 sq km (2012)
Population - distribution:
population is primarily located on the periphery, with the highest concentration of people residing in the southeast; a secondary population center is located in and around Perth in the west; of the States and Territories, New South Wales has, by far, the largest population; the interior, or "outback", has a very sparse population
Natural hazards:
cyclones along the coast; severe droughts; forest fires
volcanism: volcanic activity on Heard and McDonald Islands
Environment - current issues:
soil erosion from overgrazing, deforestation, industrial development, urbanization, and poor farming practices; soil salinity rising due to the use of poor quality water; desertification; clearing for agricultural purposes threatens the natural habitat of many unique animal and plant species; the Great Barrier Reef off the northeast coast, the largest coral reef in the world, is threatened by increased shipping and its popularity as a tourist site; limited natural freshwater resources; drought, overfishing, pollution, and invasive species are also problems
Environment - international agreements:
party to: Antarctic-Environmental Protocol, Antarctic-Marine Living Resources, Antarctic Seals, Antarctic Treaty, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands, Whaling
signed, but not ratified: none of the selected agreements
Geography - note:
world's smallest continent but sixth-largest country; the largest country in Oceania, the largest country entirely in the Southern Hemisphere, and the largest country without land borders; the only continent without glaciers; population concentrated along the eastern and southeastern coasts; the invigorating sea breeze known as the "Fremantle Doctor" affects the city of Perth on the west coast and is one of the most consistent winds in the world

People & Society

Population:
23,232,413 (July 2017 est.)
country comparison to the world: 56
Nationality:
noun: Australian(s)
adjective: Australian
Ethnic groups:
English 25.9%, Australian 25.4%, Irish 7.5%, Scottish 6.4%, Italian 3.3%, German 3.2%, Chinese 3.1%, Indian 1.4%, Greek 1.4%, Dutch 1.2%, other 15.8% (includes Australian aboriginal .5%), unspecified 5.4%
note: data represent self-identified ancestry, over a third of respondents reported two ancestries (2011 est.)
Languages:
English 76.8%, Mandarin 1.6%, Italian 1.4%, Arabic 1.3%, Greek 1.2%, Cantonese 1.2%, Vietnamese 1.1%, other 10.4%, unspecified 5% (2011 est.)
Religions:
Protestant 23.1% (Anglican 13.3%, Uniting Church 3.7%, Presbyterian and Reformed 2.3%, Baptist 1.5%, Pentecostal 1.1%, Lutheran .7%, other Protestant .5%), Roman Catholic 22.6%, other Christian 4.2%, Muslim 2.6%, Buddhist 2.4%, Orthodox 2.3% (Eastern Orthodox 2.1%, Oriental Orthodox .2%), Hindu 1.9%, other 1.3%, none 30.1%, unspecified 9.6% (2016 est.)
Age structure:
0-14 years: 17.8% (male 2,122,139/female 2,012,670)
15-24 years: 12.79% (male 1,524,368/female 1,446,663)
25-54 years: 41.45% (male 4,903,130/female 4,725,976)
55-64 years: 11.83% (male 1,363,331/female 1,384,036)
65 years and over: 16.14% (male 1,736,951/female 2,013,149) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 51.1
youth dependency ratio: 28.5
elderly dependency ratio: 22.6
potential support ratio: 4.4 (2015 est.)
Median age:
total: 38.7 years
male: 37.9 years
female: 39.5 years (2017 est.)
country comparison to the world: 58
Population growth rate:
1.03% (2017 est.)
country comparison to the world: 110
Birth rate:
12.1 births/1,000 population (2017 est.)
country comparison to the world: 165
Death rate:
7.3 deaths/1,000 population (2017 est.)
country comparison to the world: 119
Net migration rate:
5.5 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 21
Population distribution:
population is primarily located on the periphery, with the highest concentration of people residing in the southeast; a secondary population center is located in and around Perth in the west; of the States and Territories, New South Wales has, by far, the largest population; the interior, or "outback", has a very sparse population
Urbanization:
urban population: 89.7% of total population (2017)
rate of urbanization: 1.37% annual rate of change (2015-20 est.)
note: data include Christmas Island, Cocos Islands, and Norfolk Island
Major urban areas - population:
Sydney 4.505 million; Melbourne 4.203 million; Brisbane 2.202 million; Perth 1.861 million; Adelaide 1.256 million; CANBERRA (capital) 423,000 (2015)
Sex ratio:
at birth: 1.05 male(s)/female
0-14 years: 1.05 male(s)/female
15-24 years: 1.05 male(s)/female
25-54 years: 1.04 male(s)/female
55-64 years: 0.98 male(s)/female
65 years and over: 0.86 male(s)/female
total population: 1.01 male(s)/female (2017 est.)
Mother's mean age at first birth:
28.7 years (2014 est.)
Maternal mortality ratio:
6 deaths/100,000 live births (2015 est.)
country comparison to the world: 166
Infant mortality rate:
total: 4.3 deaths/1,000 live births
male: 4.6 deaths/1,000 live births
female: 3.9 deaths/1,000 live births (2017 est.)
country comparison to the world: 184
Life expectancy at birth:
total population: 82.3 years
male: 79.8 years
female: 84.9 years (2017 est.)
country comparison to the world: 14
Total fertility rate:
1.77 children born/woman (2017 est.)
country comparison to the world: 156
Contraceptive prevalence rate:
67.8%
note: percent of women aged 18-45 (2011)
Health expenditures:
9.4% of GDP (2014)
country comparison to the world: 32
Physicians density:
3.5 physicians/1,000 population (2015)
Hospital bed density:
3.8 beds/1,000 population (2014)
Drinking water source:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
Sanitation facility access:
improved:
urban: 100% of population
rural: 100% of population
total: 100% of population
unimproved:
urban: 0% of population
rural: 0% of population
total: 0% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.1% (2016 est.)
country comparison to the world: 100
HIV/AIDS - people living with HIV/AIDS:
25,000 (2016 est.)
country comparison to the world: 69
HIV/AIDS - deaths:
<500 (2016 est.)
Obesity - adult prevalence rate:
29% (2016)
country comparison to the world: 27
Children under the age of 5 years underweight:
0.2% (2007)
country comparison to the world: 138
Education expenditures:
5.2% of GDP (2014)
country comparison to the world: 56
School life expectancy (primary to tertiary education):
total: 20 years
male: 20 years
female: 21 years (2014)
Unemployment, youth ages 15-24:
total: 12.7%
male: 13.9%
female: 11.4% (2016 est.)
country comparison to the world: 104

Government

Country name:
conventional long form: Commonwealth of Australia
conventional short form: Australia
etymology: the name Australia derives from the Latin "australis" meaning "southern"; the Australian landmass was long referred to as "Terra Australis" or the Southern Land
Government type:
parliamentary democracy (Federal Parliament) under a constitutional monarchy; a Commonwealth realm
Capital:
name: Canberra
geographic coordinates: 35 16 S, 149 08 E
time difference: UTC+10 (15 hours ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins first Sunday in October; ends first Sunday in April
note: Australia has three time zones
Administrative divisions:
6 states and 2 territories*; Australian Capital Territory*, New South Wales, Northern Territory*, Queensland, South Australia, Tasmania, Victoria, Western Australia
Dependent areas:
Ashmore and Cartier Islands, Christmas Island, Cocos (Keeling) Islands, Coral Sea Islands, Heard Island and McDonald Islands, Norfolk Island
Independence:
1 January 1901 (from the federation of UK colonies)
National holiday:
Australia Day (commemorates the arrival of the First Fleet of Australian settlers), 26 January (1788); ANZAC Day (commemorates the anniversary of the landing of troops of the Australian and New Zealand Army Corps during World War I at Gallipoli, Turkey), 25 April (1915)
Constitution:
history: approved in a series of referenda 1898 through 1900, became law 9 July 1900, effective 1 January 1901
amendments: proposed by Parliament; passage requires approval of a referendum bill by absolute majority vote in both houses of Parliament, approval in a referendum by a majority of voters in at least four states and in the territories, and Royal Assent; proposals that would reduce a state’s representation in either house or change a state’s boundaries require that state’s approval prior to Royal Assent; amended several times, last in 1977 (2017)
Legal system:
common law system based on the English model
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: no
citizenship by descent only: at least one parent must be a citizen or permanent resident of Australia
dual citizenship recognized: yes
residency requirement for naturalization: 4 years
Suffrage:
18 years of age; universal and compulsory
Executive branch:
chief of state: Queen of Australia ELIZABETH II (since 6 February 1952); represented by Governor Gen. Sir Peter COSGROVE (since 28 March 2014)
head of government: Prime Minister Malcolm TURNBULL (since 15 September 2015)
cabinet: Cabinet nominated by the prime minister from among members of Parliament and sworn in by the governor general
elections/appointments: the monarchy is hereditary; governor general appointed by the monarch on the recommendation of the prime minister; following legislative elections, the leader of the majority party or majority coalition is sworn in as prime minister by the governor general
Legislative branch:
description: bicameral Federal Parliament consists of the Senate (76 seats; 12 members from each of the 6 states and 2 each from the 2 mainland territories; members directly elected in multi-seat constituencies by proportional representation vote; members serve 6-year terms with one-half of state membership renewed every 3 years and territory membership renewed every 3 years) and the House of Representatives (150 seats; members directly elected in single-seat constituencies by majority preferential vote; members serve terms of up to 3 years)
elections: Senate - last held on 2 July 2016 (next to be held in 2019); House of Representatives - last held on 2 July 2016; this election represents a rare double dissolution where all 226 seats in both the Senate and House of Representatives are up for reelection
election results: Senate - percent of vote by party - Liberal/National Coalition 35.2%, ALP 29.8%, the Greens 8.7%, Pauline Hanson's One Nation 4.3%, Nick Xenophon Team 3.3%, other 18.7%; seats by party - Liberal/National Coalition 30, ALP 26, The Greens 9, Pauline Hanson's One Nation 4, Nick Xenophon Team 3, other 4; House of Representatives - percent of vote by party - Liberal/National Coalition 42%, ALP 34.7%, The Greens 10.2%, Nick Xenophon Team 1.9%. Katter's Australian Party 0.5%, independent 2.8%, other 7.8%; seats by party - Liberal/National Coalition 76, ALP 69, The Greens 1, Katter's Australian Party 1, Nick Xenophon Team 1, independent 2
Judicial branch:
highest court(s): High Court of Australia (consists of 7 justices, including the chief justice); note - each of the 6 states, 2 territories, and Norfolk Island has a Supreme Court; the High Court is the final appellate court beyond the state and territory supreme courts
judge selection and term of office: justices appointed by the governor-general in council for life with mandatory retirement at age 70
subordinate courts: subordinate courts: subordinate courts at the federal level: Federal Court; Federal Magistrates' Courts of Australia; Family Court; subordinate courts at the state and territory level: Local Court - New South Wales; Magistrates' Courts – Victoria, Queensland, South Australia, Western Australia, Tasmania, Northern Territory, Australian Capital Territory; District Courts – New South Wales, Queensland, South Australia, Western Australia; County Court – Victoria; Family Court – Western Australia; Court of Petty Sessions – Norfolk Island
Political parties and leaders:
Australian Greens Party [Richard DI NATALE]
Australian Labor Party [Bill SHORTEN]
Country Liberal Party or CLP [Gary HIGGINS]
Liberal National Party of Queensland or LNP [Deborah FRECKLINGTON]
Liberal Party of Australia [Malcolm TURNBULL]
The Nationals [Michael MCCORMACK]
Nick Xenophon Team [Nick XENOPHON]
Pauline Hanson’s One Nation [Pauline HANSON]
Political pressure groups and leaders:
business groups, environmental groups, social groups, trade unions
International organization participation:
ADB, ANZUS, APEC, ARF, ASEAN (dialogue partner), Australia Group, BIS, C, CD, CP, EAS, EBRD, EITI (implementing country), FAO, FATF, G-20, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NEA, NSG, OECD, OPCW, OSCE (partner), Pacific Alliance (observer), Paris Club, PCA, PIF, SAARC (observer), SICA (observer), Sparteca, SPC, UN, UNCTAD, UNESCO, UNHCR, UNMISS, UNMIT, UNRWA, UNTSO, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC
Diplomatic representation in the US:
chief of mission: Ambassador Joseph Benedict HOCKEY (since 28 January 2016)
chancery: 1601 Massachusetts Avenue NW, Washington, DC 20036
telephone: [1] (202) 797-3000
FAX: [1] (202) 797-3168
consulate(s) general: Atlanta, Chicago, Honolulu, Houston, Los Angeles, New York, San Francisco
Diplomatic representation from the US:
chief of mission: Ambassador (vacant); Charge d'Affaires James CAROUSO (since September 2016)
embassy: Moonah Place, Yarralumla, Canberra, Australian Capital Territory 2600
mailing address: APO AP 96549
telephone: [61] (02) 6214-5600
FAX: [61] (02) 6214-5970
consulate(s) general: Melbourne, Perth, Sydney
Flag description:
blue with the flag of the UK in the upper hoist-side quadrant and a large seven-pointed star in the lower hoist-side quadrant known as the Commonwealth or Federation Star, representing the federation of the colonies of Australia in 1901; the star depicts one point for each of the six original states and one representing all of Australia's internal and external territories; on the fly half is a representation of the Southern Cross constellation in white with one small, five-pointed star and four larger, seven-pointed stars
National symbol(s):
Commonwealth Star (seven-pointed Star of Federation), golden wattle tree; national colors: green, gold
National anthem:
name: "Advance Australia Fair"
lyrics/music: Peter Dodds McCORMICK
note: adopted 1984; although originally written in the late 19th century, the anthem was not used for all official occasions until 1984; as a Commonwealth country, in addition to the national anthem, "God Save the Queen" is also played at Royal functions (see United Kingdom)

Economy

Economy - overview:
Following two decades of continuous growth, low unemployment, contained inflation, very low public debt, and a strong and stable financial system, Australia enters 2018 facing a range of growth constraints, principally driven by the sharp fall in global prices of key export commodities. Demand for resources and energy from Asia and especially China is growing at a slower pace and sharp drops in export prices have impacted growth.
The services sector is the largest part of the Australian economy, accounting for about 70% of GDP and 75% of jobs. Australia was comparatively unaffected by the global financial crisis as the banking system has remained strong and inflation is under control.
Australia benefited from a dramatic surge in its terms of trade in recent years, although this trend has reversed due to falling global commodity prices. Australia is a significant exporter of natural resources, energy, and food. Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas Project, will significantly expand the resources sector.
Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the WTO, APEC, the G20, and other trade forums. Australia’s free trade agreement (FTA) with China entered into force in 2015, adding to existing FTAs with the Republic of Korea, Japan, Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand. Australia continues to negotiate bilateral agreements with Indonesia, as well as larger agreements with its Pacific neighbors and the Gulf Cooperation Council countries, and an Asia-wide Regional Comprehensive Economic Partnership that includes the 10 ASEAN countries and China, Japan, Korea, New Zealand and India.
GDP (purchasing power parity):
$1.235 trillion (2017 est.)
$1.209 trillion (2016 est.)
$1.179 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 20
GDP (official exchange rate):
$1.39 trillion (2017 est.)
GDP - real growth rate:
2.2% (2017 est.)
2.5% (2016 est.)
2.4% (2015 est.)
country comparison to the world: 146
GDP - per capita (PPP):
$49,900 (2017 est.)
$49,600 (2016 est.)
$49,100 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 28
Gross national saving:
22.3% of GDP (2017 est.)
21.9% of GDP (2016 est.)
22.1% of GDP (2015 est.)
country comparison to the world: 72
GDP - composition, by end use:
household consumption: 57.1%
government consumption: 19%
investment in fixed capital: 24.2%
investment in inventories: 0%
exports of goods and services: 20.5%
imports of goods and services: -20.8% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 3.6%
industry: 26.1%
services: 70.3% (2017 est.)
Agriculture - products:
wheat, barley, sugarcane, fruits; cattle, sheep, poultry
Industries:
mining, industrial and transportation equipment, food processing, chemicals, steel
Industrial production growth rate:
1% (2017 est.)
country comparison to the world: 170
Labor force:
12.91 million (2017 est.)
country comparison to the world: 45
Labor force - by occupation:
agriculture: 3.6%
industry: 21.1%
services: 75.3% (2009 est.)
Unemployment rate:
5.6% (2017 est.)
5.7% (2016 est.)
country comparison to the world: 79
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%: 25.4% (1994 est.)
Distribution of family income - Gini index:
30.3 (2008 est.)
35.2 (1994 est.)
country comparison to the world: 132
Budget:
revenues: $461 billion
expenditures: $484.9 billion (2017 est.)
Taxes and other revenues:
33.2% of GDP (2017 est.)
country comparison to the world: 66
Budget surplus (+) or deficit (-):
-1.7% of GDP (2017 est.)
country comparison to the world: 73
Public debt:
47.1% of GDP (2017 est.)
46.6% of GDP (2016 est.)
country comparison to the world: 111
Fiscal year:
1 July - 30 June
Inflation rate (consumer prices):
2% (2017 est.)
1.3% (2016 est.)
country comparison to the world: 89
Central bank discount rate:
3% (28 February 2013 est.)
4.35% (31 December 2010 est.)
note: this is the Reserve Bank of Australia's "cash rate target," or policy rate
country comparison to the world: 107
Commercial bank prime lending rate:
5.3% (31 December 2017 est.)
5.42% (31 December 2016 est.)
country comparison to the world: 140
Stock of narrow money:
$271.9 billion (31 December 2017 est.)
$243.1 billion (31 December 2016 est.)
country comparison to the world: 19
Stock of broad money:
$1.586 trillion (31 December 2017 est.)
$1.415 trillion (31 December 2016 est.)
country comparison to the world: 12
Stock of domestic credit:
$2.336 trillion (31 December 2017 est.)
$2.098 trillion (31 December 2016 est.)
country comparison to the world: 12
Market value of publicly traded shares:
$1.187 trillion (31 December 2015 est.)
$1.289 trillion (31 December 2014 est.)
$1.366 trillion (31 December 2013 est.)
country comparison to the world: 13
Current account balance:
$-21.68 billion (2017 est.)
$-33.31 billion (2016 est.)
country comparison to the world: 192
Exports:
$224.5 billion (2017 est.)
$191.7 billion (2016 est.)
country comparison to the world: 25
Exports - commodities:
iron ore, coal, gold, natural gas, beef, aluminum ores and conc, wheat, meat (excluding beef), wool, alumina, alcohol
Exports - partners:
China 30.5%, Japan 12.4%, US 6.5%, South Korea 6.1% (2016)
Imports:
$215.4 billion (2017 est.)
$198.5 billion (2016 est.)
country comparison to the world: 22
Imports - commodities:
motor vehicles, refined petroleum, telecommunication equipment and parts; crude petroleum, medicaments, goods vehicles, gold, computers
Imports - partners:
China 23.4%, US 11.5%, Japan 7.8%, Thailand 5.6%, Germany 5.3%, South Korea 4.3% (2016)
Reserves of foreign exchange and gold:
$60.3 billion (31 December 2017 est.)
$55.07 billion (31 December 2016 est.)
country comparison to the world: 36
Debt - external:
$1.67 trillion (31 December 2017 est.)
$1.547 trillion (31 December 2016 est.)
country comparison to the world: 12
Stock of direct foreign investment - at home:
$647.7 billion (31 December 2017 est.)
$617.7 billion (31 December 2016 est.)
country comparison to the world: 16
Stock of direct foreign investment - abroad:
$443.4 billion (31 December 2017 est.)
$441.4 billion (31 December 2016 est.)
country comparison to the world: 18
Exchange rates:
Australian dollars (AUD) per US dollar -
1.31 (2017 est.)
1.34 (2016 est.)
1.34 (2015 est.)
1.33 (2014 est.)
1.11 (2013 est.)

Energy

Electricity access:
electrification - total population: 100% (2016)
Electricity - production:
237.9 billion kWh (2015 est.)
country comparison to the world: 20
Electricity - consumption:
223.6 billion kWh (2015 est.)
country comparison to the world: 18
Electricity - exports:
0 kWh (2016 est.)
country comparison to the world: 102
Electricity - imports:
0 kWh (2016 est.)
country comparison to the world: 121
Electricity - installed generating capacity:
67.03 million kW (2015 est.)
country comparison to the world: 18
Electricity - from fossil fuels:
72.9% of total installed capacity (2015 est.)
country comparison to the world: 98
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 43
Electricity - from hydroelectric plants:
10.9% of total installed capacity (2015 est.)
country comparison to the world: 116
Electricity - from other renewable sources:
16.1% of total installed capacity (2015 est.)
country comparison to the world: 43
Crude oil - production:
289,700 bbl/day (2016 est.)
country comparison to the world: 33
Crude oil - exports:
213,600 bbl/day (2016 est.)
country comparison to the world: 29
Crude oil - imports:
339,500 bbl/day (2016 est.)
country comparison to the world: 25
Crude oil - proved reserves:
1.821 billion bbl (1 January 2017 est.)
country comparison to the world: 39
Refined petroleum products - production:
472,100 bbl/day (2016 est.)
country comparison to the world: 34
Refined petroleum products - consumption:
1.1 million bbl/day (2016 est.)
country comparison to the world: 21
Refined petroleum products - exports:
60,290 bbl/day (2016 est.)
country comparison to the world: 50
Refined petroleum products - imports:
564,300 bbl/day (2016 est.)
country comparison to the world: 14
Natural gas - production:
67.2 billion cu m (2015 est.)
country comparison to the world: 13
Natural gas - consumption:
46.99 billion cu m (2015 est.)
country comparison to the world: 24
Natural gas - exports:
34.06 billion cu m (2015 est.)
country comparison to the world: 11
Natural gas - imports:
6.373 billion cu m (2015 est.)
country comparison to the world: 32
Natural gas - proved reserves:
1.989 trillion cu m (1 January 2017 est.)
country comparison to the world: 18
Carbon dioxide emissions from consumption of energy:
385 million Mt (2015 est.)
country comparison to the world: 18

Communications

Telephones - fixed lines:
total subscriptions: 8.18 million
subscriptions per 100 inhabitants: 36 (July 2016 est.)
country comparison to the world: 22
Telephones - mobile cellular:
total: 26.551 million
subscriptions per 100 inhabitants: 114 (July 2016 est.)
country comparison to the world: 48
Telephone system:
general assessment: excellent domestic and international service
domestic: domestic satellite system; significant use of radiotelephone in areas of low population density; rapid growth of mobile telephones
international: country code - 61; landing point for the SEA-ME-WE-3 optical telecommunications submarine cable with links to Asia, the Middle East, and Europe; the Southern Cross fiber-optic submarine cable provides links to NZ and the US; satellite earth stations - 10 Intelsat (4 Indian Ocean and 6 Pacific Ocean), 2 Inmarsat, 2 Globalstar, 5 other (2015)
Broadcast media:
the Australian Broadcasting Corporation (ABC) runs multiple national and local radio networks and TV stations, as well as Australia Network, a TV service that broadcasts throughout the Asia-Pacific region and is the main public broadcaster; Special Broadcasting Service (SBS), a second large public broadcaster, operates radio and TV networks broadcasting in multiple languages; several large national commercial TV networks, a large number of local commercial TV stations, and hundreds of commercial radio stations are accessible; cable and satellite systems are available (2009)
Internet country code:
.au
Internet users:
total: 20,288,409
percent of population: 88.2% (July 2016 est.)
country comparison to the world: 34

Transportation

National air transport system:
number of registered air carriers: 25
inventory of registered aircraft operated by air carriers: 583
annual passenger traffic on registered air carriers: 69,294,187
annual freight traffic on registered air carriers: 1,887,295,820 mt-km (2018)
Civil aircraft registration country code prefix:
VH (2016)
Airports:
480 (2013)
country comparison to the world: 16
Airports - with paved runways:
total: 349
over 3,047 m: 11
2,438 to 3,047 m: 14
1,524 to 2,437 m: 155
914 to 1,523 m: 155
under 914 m: 14 (2017)
Airports - with unpaved runways:
total: 131
1,524 to 2,437 m: 16
914 to 1,523 m: 101
under 914 m: 14 (2013)
Heliports:
1 (2013)
Pipelines:
condensate/gas 637 km; gas 30,054 km; liquid petroleum gas 240 km; oil 3,609 km; oil/gas/water 110 km; refined products 72 km (2013)
Railways:
total: 33,343 km
broad gauge: 3,247 km 1.600-m gauge (372 km electrified)
standard gauge: 17,446 km 1.435-m gauge (650 km electrified)
narrow gauge: 12,318 km 1.067-m gauge (2,075.5 km electrified)
other gauge: 35 km (2015)
country comparison to the world: 7
Roadways:
total: 873,573 km
urban: 145,928 km
non-urban: 727,645 km (2015)
country comparison to the world: 9
Waterways:
2,000 km (mainly used for recreation on Murray and Murray-Darling River systems) (2011)
country comparison to the world: 42
Merchant marine:
total: 549
by type: bulk carrier 4, general cargo 83, oil tanker 10, other 452 (2017)
country comparison to the world: 39
Ports and terminals:
major seaport(s): Brisbane, Cairns, Darwin, Fremantle, Geelong, Gladstone, Hobart, Melbourne, Newcastle, Port Adelaide, Port Kembla, Sydney
dry bulk cargo port(s): Dampier (iron ore), Dalrymple Bay (coal), Hay Point (coal), Port Hedland (iron ore), Port Walcott (iron ore)
container port(s) (TEUs): Brisbane (1,152,000), Melbourne (2,638,000), Sydney (2,330,000) (2015)
LNG terminal(s) (export): Darwin, Karratha, Burrup, Curtis Island

Military & Security

Military expenditures:
2% of GDP (2016)
1.98% of GDP (2015)
1.8% of GDP (2014)
1.68% of GDP (2013)
1.7% of GDP (2012)
country comparison to the world: 48
Military branches:
Australian Defense Force (ADF): Australian Army (includes Special Operations Command), Royal Australian Navy (includes Naval Aviation Force), Royal Australian Air Force, Joint Operations Command (JOC) (2016)
Military service age and obligation:
17 years of age for voluntary military service (with parental consent); no conscription; women allowed to serve in most combat roles (2018)

Transnational Issues

Disputes - international:
in 2018, Australia and Timor-Leste signed a permanent maritime border treaty, scrapping a 2007 development zone and revenue sharing arrangement between the countries; Australia asserts land and maritime claims to Antarctica; Australia's 2004 submission to the Commission on the Limits of the Continental Shelf extends its continental margins over 3.37 million square kilometers, expanding its seabed roughly 30 percent beyond its claimed EEZ; all borders between Indonesia and Australia have been agreed upon bilaterally, but a 1997 treaty that would settle the last of their maritime and EEZ boundary has yet to be ratified by Indonesia's legislature; Indonesian groups challenge Australia's claim to Ashmore Reef; Australia closed parts of the Ashmore and Cartier reserve to Indonesian traditional fishing
Refugees and internally displaced persons:
refugees (country of origin): 9,217 (Afghanistan); 6,128 (Iran) (2016)
Illicit drugs:
Tasmania is one of the world's major suppliers of licit opiate products; government maintains strict controls over areas of opium poppy cultivation and output of poppy straw concentrate; major consumer of cocaine and amphetamines

Economic Indicators for Australia including actual values, historical data, and latest data updates for the Australia economy.



Latest Analysis
Key Indicators for Australia
  •    Consumer Price Index
  • Latest: 0.4% for Jul. 2018
  • Previous: 0.4% for Apr. 2018
  • Next Release: Jan 29, 2019
  •    Employment Situation
  • Latest: 5.1% for Nov. 2018
  • Previous: 5.0% for Oct. 2018
  • Next Release: Jan 23, 2019
  •    Foreign Trade
  • Latest: A$1.93 bil for Nov. 2018
  • Previous: A$2.32 bil for Oct. 2018
  • Next Release: Feb 04, 2019
  •    GDP
  • Latest: 0.3% for Jul. 2018
  • Previous: 0.9% for Apr. 2018
  • Next Release: Mar 05, 2019
Latest Data Updates