Australia Gross Domestic Product (GDP) y/y

Country:
Australia
AUD, Australian Dollar
Sector:
GDP
Medium 2.8% 2.6%
3.1%
Last release Importance Actual Forecast
Previous
2.2%
2.8%
Next release Actual Forecast
Previous
  • Overview
  • Chart
  • History
  • Widget

Australia Gross Domestic Product or GDP y/y reflects changes in the market value of goods and services produced by the domestic economy, in the reported quarter compared to the same quarter of the previous year, net of production costs.

Three approaches can be applied to calculating GDP.

  • With the income approach, the GDP is calculated as the amount of employees' remuneration, gross operating surplus, gross mixed income net of production subsides and import costs. This amount is adjusted using the price deflator.
  • The expenditure method suggests calculating GDP as a total of all final expenditures, stock changes and net exports of goods and services (net of imports).
  • Finally, GDP by production approach is the total of the gross value added for each industry, calculated using base prices and taxes less subsides on products. Base prices refer to amounts received by manufacturers, including the cost of any subsides on products, before taxes.

These three estimates are produced independently of each other, using different data sources. So, although the results should theoretically coincide, actual GDP estimates are different. The Australian Bureau of Statistics aligns these calculations annually, by balancing them in supply and use tables. Such alignment produces the benchmark GDP, which is used by analysts and economists.

GDP is usually used as an indicator of the national economy state and of the standard of living. Its growth is interpreted as the strengthening of economy, the decline shows weakening.

The impact of GDP on Australian dollar quotes is associated with inflation. In turn, the relationship between GDP and inflation is very delicate. In general, GDP growth is primarily connected with an increase of domestic expenditures, which may increase inflation. This growth may spur the economy and national currency quotes may grow. However, too much GDP growth may be dangerous, since inflationary overheating leads to economy weakening. Most economists today agree that economy can be safe and stable with 2.5% - 3.5% GDP growth per year.

Last values:

actual data

forecast

The chart of the entire available history of the "Australia Gross Domestic Product (GDP) y/y" macroeconomic indicator. The dashed line shows the forecast values ​​of the economic indicator for the specified dates.

A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values ​​of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.

Date (GMT)
Reference
Actual
Forecast
Previous
3 Q 2018
2.8%
2.6%
3.1%
2 Q 2018
3.4%
3.0%
3.2%
1 Q 2018
3.1%
2.9%
2.4%
4 Q 2017
2.4%
2.2%
2.9%
3 Q 2017
2.8%
2.3%
1.9%
2 Q 2017
1.8%
1.7%
1 Q 2017
1.7%
2.4%
4 Q 2016
2.4%
1.8%
3 Q 2016
1.8%
3.3%
2 Q 2016
3.3%
3.0%
1 Q 2016
3.1%
2.9%
4 Q 2015
3.0%
2.7%
3 Q 2015
2.5%
1.9%
2 Q 2015
2.0%
2.5%
1 Q 2015
2.3%
2.5%
4 Q 2014
2.5%
2.7%
3 Q 2014
2.7%
3.1%
2 Q 2014
3.1%
3.5%
1 Q 2014
3.5%
2.8%
4 Q 2013
2.7%
2.3%
3 Q 2013
2.3%
2.6%
2 Q 2013
2.4%
2.5%
1 Q 2013
2.5%
3.1%
4 Q 2012
3.1%
3.1%
3 Q 2012
3.1%
3.7%
2 Q 2012
3.7%
4.3%
1 Q 2012
4.3%
2.3%
4 Q 2011
2.3%
2.5%
3 Q 2011
2.5%
1.4%
2 Q 2011
1.9%
1.0%
1 Q 2011
1.0%
2.7%
4 Q 2010
2.7%
2.7%
3 Q 2010
2.7%
3.3%
2 Q 2010
3.12%
2.7%
1 Q 2010
2.3%
2.8%
4 Q 2009
2.6%
0.5%
3 Q 2009
0.9%
0.6%
2 Q 2009
0.8%
0.3%
1 Q 2009
1.03%
0.3%
4 Q 2008
1.11%
1.9%
3 Q 2008
2.87%
2.7%
2 Q 2008
2.7%
3.6%
1 Q 2008
3.6%
3.9%
4 Q 2007
3.9%
4.3%
3 Q 2007
4.3%
4.3%
2 Q 2007
3.7%
3.8%
1 Q 2007
3.8%

Economic calendar widget for your website

Create your own calendar of economic events. To do this, simply specify its size and display period. You can freely use this widget on your websites. In return, we ask you to keep the provided code unchanged.

The Calendar data are provided as is. The economic news release frequency and schedule, as well as the economic parameters' values may change without our knowledge. You can use the provided information, but you accept all the risks associated with making trade decisions based on the Calendar data.

Display area

Widget type

Display information

Default calendar period

Widget language

Date format

Your embed code

Copy widget codeCopied

Preview