GDP per Capita in Australia (with a population of 24,584,620 people) was $55,958 in 2017, an increase of $346 from $55,612 in 2016; this represents a change of 0.6% in GDP per capita. Australia gdp growth rate for 2017 was 2.37%, a 0.4% decline from 2016. Despite the late approval of the 2019 budget, public expenditure in the first half of 2019 was 16 percent higher than in the same period in 2018. The World Bank expected Australia's GDP growth rate to be 3.2% in 2011 and 3.8% in 2012. The US and China's margin is coming down in nominal ranking as China's gdp growth rate of 2020 (1.85%) is much higher than the US's -4.27%. Year / Range. ... World Trade Organization. Australia’s northern neighbour, Indonesia, will rise to having the fourth biggest economy in the world. Gross domestic product (GDP) is expected to grow by 4.1 percent in 2019. Private investment is also expected to benefit from greater political and economic stability. Ethiopia Overview - World Bank Please note the exports, imports and tariff data are based on reported data and not gap filled. Australia gdp growth rate for 2016 was 2.77%, a 0.58% increase from 2015. Australia GDP growth, in annual % 2011-2015 Country / Region. The statistic shows the growth rate of Australia’s real GDP from 2015 to 2019, with projections up until 2025. The economy expanded by 0.4% in the fourth quarter of 2011, and expanded by 1.3% in the first quarter of 2012. Indicator. GDP Growth Rate in 2017 was 1.96%, representing a change of 26,413,655,107 US$ over 2016, when Real GDP was $1,349,304,594,617. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. However, it can be seen that all the graphs, except EC, show GDP Growth reached an all-time high of about 3.6 percent in 2012. GDP Growth Rate in Australia averaged 0.82 percent from 1959 until 2020, reaching an all time high of 4.40 percent in the first quarter of 1976 and a record low of -7 percent in the second quarter of 2020. A new World Bank report has cast a shadow across any optimistic thoughts of economic recovery. Australia gdp growth rate for 2019 was 1.90%, a 1.04% decline from 2018. Australia gdp growth rate for 2018 was 2.94%, a 0.57% increase from 2017. The growth rate was reported to be 4.3% year-on-year. A strong comeback in 2021 is needed to help the global economy heal from the coronavirus pandemic. In 2019, GDP in Australia grew by about 1.84 percent on the previous year. This page provides - Australia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 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