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Australia’s economy


The Australia economy is the 15th largest in the world at $US700.7 Billion (2006) as measured by Gross Domestic Product (GDP) by the World Bank.


If the GDP is adjusted for the cost of living and population (at purchasing power parity (PPP) per capita), Australia is ranked 16th with $US 32,938 per person, as measured by the International Monetary Fund (IMF) IN 2006.


International Comparisons

Australia with a population of only 20 million has an economy larger than over 168 countries.

Australia’s per capita GDP adjusted for the cost of living ($US32,938) is almost 9 times the size of India’s ($US3,737), and over four times the size of China’s GDP per capita($US7,598)

Leading World Economy

Over the past 20 years Australia’s performance has been one of the best in the OECD.

Australia has one of the strongest economies in the world—competitive, open and vibrant.

The nation’s high economic performance stems from effective economic management and ongoing structural reform.

Australia has a competitive and dynamic private sector and a skilled, flexible workforce.

High Economic Growth

From 1996 to 2005 annual average growth has been 3.2% (Year Book 2007).


Australia is in its 15th consecutive year of growth.

Low Inflation

Australia’s economic growth is coupled with low inflation.


Australia’s inflation rate has been stable over the past decade, and inflation in 2006–07 is averaging 2.4 per cent. Australian Bureau of Statistics (ABS)

Low Unemployment
Australia’s unemployment rate is at a 32-year low at 4.4%, one of the lowest in the world.

In some sectors such as nursing and mining there is zero unemployment.

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