Economy Overview
Asian and global economic leader and partner for 3 decades; strong financial sector and highly traded domestic currency support best credit ratings; aging workforce; export-led model; reduced consumer spending offset by government and business; energy investor
Agriculture Products
sugar cane, wheat, barley, milk, rapeseed, beef, cotton, grapes, poultry, potatoes
Industries
mining, industrial and transportation equipment, food processing, chemicals, steel
Industrial Production Growth Rate
-0.55% (2021 est.)comparison ranking: 162
Labor Force
13.786 million (2021 est.)comparison ranking: 46
Unemployment Rate
5.11% (2021 est.)6.46% (2020 est.)5.16% (2019 est.)
Youth Unemployment Rate
Total: 10.8% (2021 est.)
Male: 12.7%
Female: 8.9%
Population Below Poverty Line
Household Income or Consumption by Percentage Share
Lowest 10%: 2%
Highest 10%: 25.4% (1994)
Distribution of Family Income Gini Index
34.3 (2018 est.)comparison ranking: 110
Average Household Expenditures
On food: 9.3% of household expenditures (2018 est.)
On alcohol and tobacco: 3.5% of household expenditures (2018 est.)
Budget
Revenues: $479.33 billion (2019 est.)
Expenditures: $532.579 billion (2019 est.)
Budget Surplus
-0.5% (of GDP) (2017 est.)comparison ranking: 60
Public Debt
69.41% of GDP (2020 est.)60.25% of GDP (2019 est.)54.49% of GDP (2018 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
$57.878 billion (31 December 2021 est.)$42.545 billion (31 December 2020 est.)$57.995 billion (31 December 2019 est.)
Debt External
$3,115,913,000,000 (2019 est.)$2,837,818,000,000 (2018 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
0: Australian dollars (AUD) per US dollar -
Exchange rates: 1.331 (2021 est.)1.453 (2020 est.)1.439 (2019 est.)1.338 (2018 est.)1.305 (2017 est.)
