In 2015, the Australian economy entered its 25th year of continuous
economic growth whilst retaining its AAA credit rating. This success
story is unmatched amongst major developed countries, including
the 35 members of the Organisation for Economic Cooperation and
Development. Australia is forecast to record the highest growth of all
major advanced economies over 2016-2020.
In 2015:
(a) OECD country average
Australia's Key Economic Indicators 2005 and 2013 to 2015
| 2005 | 2013 | 2014 | 2015 | ||
|---|---|---|---|---|---|
| Chain volume measures, reference year 2013-14 | |||||
| Gross domestic product(a) | % change | 3.2 | 2.0 | 2.7 | 2.4 |
| Exports of goods & services(a) | % change | 3.0 | 5.9 | 6.7 | 5.8 |
| Imports of goods & services(a) | % change | 8.8 | -1.8 | -1.7 | 1.5 |
| Labour force | |||||
| Population(b) | '000 | 20,312 | 23,286 | 23,614 | 23,940 |
| Labour force(c) | '000 | 10,399 | 12,136 | 12,268 | 12,505 |
| Employed persons(c) | '000 | 9,876 | 11,450 | 11,525 | 11,745 |
| - Annual growth | % | 3.4 | 0.9 | 0.7 | 1.9 |
| Unemployment rate(c) | % | 5.0 | 5.7 | 6.1 | 6.1 |
| Prices and interest rates | |||||
| Consumer prices | % change | 2.8 | 2.7 | 1.7 | 1.7 |
| Interest rates - 90 day bills(c) | % pa | 5.6 | 2.8 | 2.7 | 2.3 |
(a) Derived from annual movements in original data.
(b) At end of period.
(c) Derived from seasonally adjusted data on an annual average.
Based on ABS and Reserve Bank, various catalogues.
Australia's Industry Structure 2015
| Economic Sector | Gross value added(a) | Employed persons(b) | ||
|---|---|---|---|---|
| A$m | % share(c) | '000 | % share | |
| Agriculture, forestry & fishing | 35,112 | 2.3 | 308.2 | 2.6 |
| Mining | 142,181 | 9.2 | 225.6 | 1.9 |
| Manufacturing | 99,076 | 6.4 | 886.5 | 7.5 |
| Services | 1,120,149 | 72.8 | 10,351.9 | 88.1 |
| Electricity, gas, water & waste | 44,401 | 2.9 | 139.1 | 1.2 |
| Construction | 127,644 | 8.3 | 1,039.0 | 8.8 |
| Wholesale trade | 66,565 | 4.3 | 392.8 | 3.3 |
| Retail trade | 73,198 | 4.8 | 1,238.5 | 10.5 |
| Accommodation & food services | 39,008 | 2.5 | 825.9 | 7.0 |
| Transport, postal & warehousing | 74,944 | 4.9 | 604.7 | 5.1 |
| Information, media & telecommunications | 49,061 | 3.2 | 212.0 | 1.8 |
| Finance & insurance | 144,237 | 9.4 | 420.0 | 3.6 |
| Rental, hiring & real estate | 47,273 | 3.1 | 212.7 | 1.8 |
| Professional, scientific & technical | 96,102 | 6.2 | 1,003.6 | 8.5 |
| Administrative & support | 42,709 | 2.8 | 405.8 | 3.5 |
| Public administration & safety | 88,764 | 5.8 | 736.6 | 6.3 |
| Education & training | 76,529 | 5.0 | 925.6 | 7.9 |
| Health care & social assistance | 106,856 | 6.9 | 1,486.8 | 12.7 |
| Arts & recreation | 12,949 | 0.8 | 229.2 | 2.0 |
| Other services | 29,909 | 1.9 | 479.8 | 4.1 |
| Ownership of dwellings | 141,715 | 9.2 | ||
| Gross value added at basic prices (d) | 1,538,231 | 100.0 | ||
| Taxes less subsidies on products | 104,723 | |||
| Statistical discrepancy | 675 | |||
| Total(e) | 1,643,631 | 11,745 | 100.0 | |
(a) The term is used to describe gross product by industry and by sector (Chain volume measures
reference year 2013-14). Industry breakdown based on ANZSIC 2006.
(b) Derived from seasonally adjusted data on an annual average.
(c) As a share of GDP at basic prices.
(d) Basic prices are amounts received by producers, including the value of any subsidies on products, but
before any taxes on products.
(e) GDP at purchasers' (market) prices is derived by adding Taxes less subsidies on products and Statistical
discrepancy to Gross value added at basic prices.
Based on ABS catalogues 5206.0, 6202.0 and 6203.0.