GDP (Gross Domestic Product): Australia
Current Value (2024)
$1,757,022,451,652.83
All-Time Peak (2024)
$1,757,022,451,652.83
All-Time Low (1960)
$18,635,682,981.709
GDP (Gross Domestic Product) — Australia
Analysis# Australia's GDP Analysis
Australia's GDP grew approximately 94-fold from 1960 ($18.6 billion) to 2024 ($1.76 trillion), reflecting sustained economic expansion driven by commodity exports, financial services development, and post-war industrialization. The current GDP equals the peak, indicating 2024 represents a record high with no recent decline, contrasting with the volatility seen during the 1970s oil crises and 2008 financial crisis. Over the 64-year period, Australia's economy demonstrated resilience through structural shifts from agriculture and mining dependency toward services, particularly banking and tourism, while maintaining its status as a developed economy within the Asia-Pacific region.
Historical Data
| Year | Value | Change % |
|---|---|---|
| 2024 | $1,757,022,451,652.83 | +1.30% |
| 2023 | $1,734,451,264,655.6 | +2.29% |
| 2022 | $1,695,627,535,475.8 | +8.65% |
| 2021 | $1,560,617,493,202.69 | +17.05% |
| 2020 | $1,333,336,461,648.09 | -4.65% |
| 2019 | $1,398,349,602,956.35 | -2.43% |
| 2018 | $1,433,144,978,761.67 | +7.68% |
| 2017 | $1,330,890,554,614.09 | +9.85% |
| 2016 | $1,211,588,128,417.61 | -10.70% |
| 2015 | $1,356,805,839,935.9 | -7.99% |
| 2014 | $1,474,677,007,565.64 | -6.89% |
| 2013 | $1,583,737,461,925.39 | +2.00% |
| 2012 | $1,552,728,401,401.58 | +10.68% |
| 2011 | $1,402,939,868,653.4 | +21.72% |
| 2010 | $1,152,566,632,022.13 | +23.70% |
| 2009 | $931,761,689,770.843 | -11.97% |
| 2008 | $1,058,448,244,063.77 | +23.56% |
| 2007 | $856,603,595,823.192 | +14.26% |
| 2006 | $749,708,370,332.989 | +7.59% |
| 2005 | $696,811,489,612.816 | +13.18% |
Show all 65 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | $615,643,050,220.515 | +31.40% |
| 2003 | $468,517,181,129.878 | +18.18% |
| 2002 | $396,436,967,262.563 | +4.23% |
| 2001 | $380,360,222,861.197 | -8.77% |
| 2000 | $416,901,962,163.479 | +6.80% |
| 1999 | $390,347,787,943.351 | -2.50% |
| 1998 | $400,361,527,504.578 | -8.24% |
| 1997 | $436,321,902,767.408 | +8.55% |
| 1996 | $401,962,517,479.122 | +9.01% |
| 1995 | $368,725,126,225.126 | +14.06% |
| 1994 | $323,269,456,935.317 | +3.42% |
| 1993 | $312,568,858,909.5 | -4.11% |
| 1992 | $325,982,966,981.415 | -0.13% |
| 1991 | $326,416,407,860.792 | +4.67% |
| 1990 | $311,840,666,465.053 | +3.86% |
| 1989 | $300,264,309,002.14 | +26.98% |
| 1988 | $236,461,079,970.431 | +24.63% |
| 1987 | $189,726,707,252.515 | +3.84% |
| 1986 | $182,707,050,923.335 | +1.02% |
| 1985 | $180,861,108,959.102 | -6.65% |
| 1984 | $193,749,932,078.26 | +9.14% |
| 1983 | $177,523,719,680.081 | -8.65% |
| 1982 | $194,323,071,830.52 | +9.69% |
| 1981 | $177,151,979,565.773 | +17.94% |
| 1980 | $150,200,557,103.064 | +11.18% |
| 1979 | $135,093,718,050.665 | +13.85% |
| 1978 | $118,660,813,779.849 | +7.38% |
| 1977 | $110,504,702,913.512 | +5.03% |
| 1976 | $105,209,354,855.787 | +7.97% |
| 1975 | $97,440,939,505.667 | +9.38% |
| 1974 | $89,086,219,602.063 | +39.36% |
| 1973 | $63,923,126,201.153 | +22.65% |
| 1972 | $52,117,990,654.206 | +15.09% |
| 1971 | $45,283,847,245.416 | +9.39% |
| 1970 | $41,395,206,623.233 | +12.68% |
| 1969 | $36,738,245,878.119 | +12.13% |
| 1968 | $32,763,365,242.138 | +7.46% |
| 1967 | $30,487,524,878.004 | +11.47% |
| 1966 | $27,349,284,375.886 | +5.13% |
| 1965 | $26,014,244,162.279 | +9.14% |
| 1964 | $23,835,843,813.735 | +10.49% |
| 1963 | $21,573,443,451.751 | +8.12% |
| 1962 | $19,953,923,192.628 | +1.22% |
| 1961 | $19,713,123,154.1 | +5.78% |
| 1960 | $18,635,682,981.709 | — |