Australia GDP Trends from 1980 to 2024: A overall increase with some decline Flow

Australia's GDP changed from approximately $162B 957M in 1980 to $1T 790B in 2024, showing an overall 998.7% sharply increased during the period.
The lowest GDP was recorded in 1980 at $162B 957M, and the highest in 2024 at $1T 790B.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.6%.
For comparison, the average annual growth rate of New Zealand was 5.7%, and that of China was 9.8%.

Overview of Australia's GDP (1980–2024)

The Gross Domestic Product (GDP) of Australia recorded a 998.7% sharply increased from 1980 to 2024.
The average GDP during this period was $776B 330M, and the median was $426B 412M.
GDP fluctuated within a range of $1T 627B, with a standard deviation of $556B 755M.
The average annual change was $39B 996M.


Australia GDP from 1980 to 2024

The total market value of goods and services produced annually in Australia.

Change Chart

    Highest and Lowest GDP Records

    • Lowest GDP: 1980, $162B 957M
    • Highest GDP: 2024, $1T 790B
    • Most Recent GDP: 2024, $1T 790B

    Notable Annual GDP Changes

    • 2021: Significant increase in GDP
    • 2015: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Australia's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $1T 388B → $1T 364B
    • Outcome: declined

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $950B 40M → $1T 983M
    • Outcome: increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $400B 254M → $378B 4M
    • Outcome: declined

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $426B 412M → $381B 500M
    • Outcome: sharply declined

    Key Economic Indicators of Australia (1980–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 162B 957M
    $ 11,009.31
    $ 10,483.55
    $ 155B 175M
    2.894 %
    -2.367 %
    21.73 %
    0 %
    14M 802K people
    1981
    $ 188B 448M
    $ 12,530.47
    $ 11,760.39
    $ 176B 866M
    4.127 %
    -4.056 %
    20.88 %
    0 %
    15M 39K people
    1982
    $ 187B 87M
    $ 12,236.78
    $ 12,290.85
    $ 187B 913M
    0.063 %
    -4.105 %
    18.76 %
    0 %
    15M 289K people
    1983
    $ 179B 514M
    $ 11,593.89
    $ 12,551.90
    $ 194B 347M
    -0.474 %
    -3.146 %
    16.95 %
    0 %
    15M 483K people
    1984
    $ 197B 175M
    $ 12,577.14
    $ 13,659.26
    $ 214B 140M
    6.346 %
    -4.146 %
    20.14 %
    0 %
    15M 677K people
    1985
    $ 174B 419M
    $ 10,969.39
    $ 14,651.39
    $ 232B 965M
    5.456 %
    -4.861 %
    18.34 %
    0 %
    15M 901K people
    1986
    $ 181B 514M
    $ 11,247.06
    $ 15,086.27
    $ 243B 474M
    2.448 %
    -5.048 %
    17.62 %
    0 %
    16M 139K people
    1987
    $ 213B 142M
    $ 13,000.74
    $ 15,963.43
    $ 261B 714M
    4.893 %
    -3.389 %
    20.18 %
    0 %
    16M 395K people
    1988
    $ 271B 142M
    $ 16,248.65
    $ 16,927.36
    $ 282B 468M
    4.253 %
    -3.832 %
    25.25 %
    0 %
    16M 687K people
    1989
    $ 308B 356M
    $ 18,206.38
    $ 18,136.76
    $ 307B 177M
    4.644 %
    -5.999 %
    25.37 %
    0 %
    16M 937K people
    1990
    $ 324B 69M
    $ 18,874.40
    $ 18,841.02
    $ 323B 496M
    1.513 %
    -4.848 %
    22.99 %
    1.871 %
    17M 170K people
    1991
    $ 324B 449M
    $ 18,669.07
    $ 19,052.36
    $ 331B 111M
    -0.995 %
    -3.279 %
    18.35 %
    -0.978 %
    17M 379K people
    1992
    $ 318B 84M
    $ 18,117.09
    $ 19,787.31
    $ 347B 408M
    2.584 %
    -3.258 %
    19.26 %
    -3.114 %
    17M 557K people
    1993
    $ 309B 298M
    $ 17,455.63
    $ 20,859.79
    $ 369B 616M
    3.929 %
    -3.026 %
    21.11 %
    -2.898 %
    17M 719K people
    1994
    $ 353B 374M
    $ 19,748.80
    $ 22,121.09
    $ 395B 822M
    4.851 %
    -4.52 %
    21.60 %
    -1.783 %
    17M 893K people
    1995
    $ 379B 95M
    $ 20,921.82
    $ 22,962.94
    $ 416B 80M
    2.959 %
    -4.984 %
    20.60 %
    -0.498 %
    18M 120K people
    1996
    $ 424B 750M
    $ 23,172.29
    $ 24,042.53
    $ 440B 701M
    4.013 %
    -3.46 %
    21.42 %
    0.568 %
    18M 330K people
    1997
    $ 426B 412M
    $ 23,036.83
    $ 25,347.49
    $ 469B 182M
    4.658 %
    -2.917 %
    21.76 %
    1.22 %
    18M 510K people
    1998
    $ 381B 500M
    $ 20,394.94
    $ 26,558.49
    $ 496B 793M
    4.708 %
    -4.904 %
    21.53 %
    1.142 %
    18M 706K people
    1999
    $ 412B 62M
    $ 21,780.07
    $ 27,804.99
    $ 526B 48M
    4.411 %
    -5.471 %
    20.55 %
    1.646 %
    18M 919K people