World Factbook

Australia

Commonwealth of Australia

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$431.27 billion (2022 est.)

expenditures

$453.105 billion (2022 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$465.99 billion (2022 est.)

Exports 2023

$448.507 billion (2023 est.)

Exports 2024

$425.16 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$379.981 billion (2022 est.)

Imports 2023

$389.211 billion (2023 est.)

Imports 2024

$405.336 billion (2024 est.)

Industries

mining, industrial and transportation equipment, food processing, chemicals, steel

Labor force

14.912 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2022

58% of GDP (2022 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

0.1% of GDP (2022 est.)

Remittances 2023

0.1% of GDP (2023 est.)

Remittances 2024

0.1% of GDP (2024 est.)

Exchange rates

Currency

Australian dollars (AUD) per US dollar -

Exchange rates 2020

1.453 (2020 est.)

Exchange rates 2021

1.331 (2021 est.)

Exchange rates 2022

1.442 (2022 est.)

Exchange rates 2023

1.505 (2023 est.)

Exchange rates 2024

1.515 (2024 est.)

Economic overview

high-income and globally integrated economy; strong mining, manufacturing, and service sectors driving slow but steady growth; net exporter, driven by commodities to East Asian trade partners; weak productivity and aging population straining labor force participation

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

3.8% (2022 est.)

Unemployment rate 2023

3.7% (2023 est.)

Unemployment rate 2024

4.1% (2024 est.)

Exports - partners

China 37%, Japan 16%, S. Korea 6%, India 5%, Taiwan 5% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 26%, USA 11%, S. Korea 6%, Japan 6%, Thailand 5% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$59,900 (2022 est.)

Real GDP per capita 2023

$60,500 (2023 est.)

Real GDP per capita 2024

$60,100 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

4.2% (2022 est.)

Real GDP growth rate 2023

3.4% (2023 est.)

Real GDP growth rate 2024

1.4% (2024 est.)

Agricultural products

wheat, sugarcane, barley, rapeseed, milk, cotton, sorghum, beef, lentils, grapes (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

iron ore, coal, natural gas, gold, minerals (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, cars, trucks, broadcasting equipment, garments (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

$5.707 billion (2022 est.)

Current account balance 2023

-$5.186 billion (2023 est.)

Current account balance 2024

-$34.402 billion (2024 est.)

Taxes and other revenues

23.6% (of GDP) (2022 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$1.752 trillion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

51.2% (2024 est.)

government consumption

22.2% (2024 est.)

investment in inventories

0.1% (2024 est.)

investment in fixed capital

24.3% (2024 est.)

exports of goods and services

24.7% (2024 est.)

imports of goods and services

-22.6% (2024 est.)

Average household expenditures

on food

9.9% of household expenditures (2023 est.)

on alcohol and tobacco

3.6% of household expenditures (2023 est.)

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

6.6% (2022 est.)

Inflation rate (consumer prices) 2023

5.6% (2023 est.)

Inflation rate (consumer prices) 2024

3.2% (2024 est.)

Industrial production growth rate

0.5% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$1.558 trillion (2022 est.)

Real GDP (purchasing power parity) 2023

$1.611 trillion (2023 est.)

Real GDP (purchasing power parity) 2024

$1.635 trillion (2024 est.)

Youth unemployment rate (ages 15-24)

male

10.2% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

9.5% (2024 est.)

female

8.7% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$56.702 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$61.703 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$60.404 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

26% (2024 est.)

services

65.5% (2024 est.)

agriculture

2.2% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

2.8% (2018 est.)

highest 10%

26.2% (2018 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2018

34.3 (2018 est.)