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Economy of Australia

Population: 23 million in 20131

GDP: $1.56 trillion in 20132

GDP per capita: $67,458 nominal3 ($43,550 PPP4) in 2013

GDP growth rate: 2.3% in 20145


GDP by Industry 20126

Industry sectorValue added ($ billions) 2012Percent of total
Other activities70149.4%
Mining and utilities18412.9%
Wholesale, retail trade, restaurants and hotels16311.5%
Transport, storage and communication1208.5%
Agriculture, hunting, forestry, fishing342.4%
Total value added1,420100%


Unemployment rate: 5.7% in 20127

Employment by Industry 20138

Employment sector Employees (thousands) 2013Percent of total
Wholesale trade, retail trade and repair of motor vehicles1,62714.2%
Human health and social work1,37712.0%
Not elsewhere classified8107.1%
Accommodation and food service7786.8%
Public administration and defence7426.5%
Professional, scientific and technical6745.9%
Transportation and storage4654.1%
Finance and insurance4023.5%
Administrative and support service3753.3%
Information and communication3633.2%
Agriculture, forestry and fishing3002.6%
Mining and quarrying2672.3%
Other service2452.1%
Arts, entertainment and recreation2221.9%
Electricity, gas, steam and air conditioning810.7%
Real estate390.3%
Water supply, sewerage and waste management320.3%
Activities of households as employers40.0%
Total employment11,440100%


Top 8 Corporations by Revenue 2013* 9

RankCorporationRevenue ($ billions) 2013Profit ($ billions) 2013Assets ($ billions) 2013Industry
1BHP Billiton649.9126Mining
4National Australia Bank404.4657Finance
5Commonwealth Bank of Australia366.3613Finance
6Westpac Banking Corporation325.5567Finance
7Australia & New Zealand Banking Group285.1571Finance

* Corporate data calculated using the exchange rate 1.227 AUD = 1 USD


Household Wealth: $7.2 trillion (462% of GDP) in 201410

Household Wealth per Adult: $430,777 in 201410

Gini Coefficient: .303 in 200811


Central Government

Central Government Revenue: $494 billion (32% of GDP) in 201312

Central Government Expenditure: $514 billion (33% of GDP)in 201312

Central Government Budget Balance: -$20 billion (-1% of GDP) in 201312

Central Government Public Debt: $527 billion (34% of GDP) in Q3 2014* 13

Central Government 10 Year Bond Interest Rate: 2.72% on Jan 11, 201514

* Public debt calculated using the exchange rate of 1.227 AUD = 1 USD

Public Funds

Future Fund: $104 billion (7% of GDP) on Sept 30, 201415

Tax Structure

Personal Income Tax Rates and Thresholds in 2013* 16

Corporate Tax Rate: 30%17

* Thresholds calculated using the exchange rate of 1.227 AUD = 1 USD

Monetary Policy

Money Supply (M1): $255 billion (16% of GDP) in Nov 2014* 18

Benchmark Interest Rate: Cash Rate = 2.5% in 201419

Total Reserves: $533 billion (34% of GDP) in 201320

Exchange Rate: 1.227 Australian Dollars = 1 U.S. Dollar on Jan 9, 201521

Inflation: 2.4% in 201322

* Money supply calculated using the exchange rate of 1.227 AUD = 1 USD

Financial Institutions

Top 9 Financial Institutions by Assets 201323

RankFinancial InstitutionAssets ($ billions) 2013*
1National Australia Bank720
2Commonwealth Bank of Australia613
3ANZ Banking Group572
4Westpac Banking Corporation568
5Macquarie Group118
6Suncorp Group78
8Bendigo and Adelaide Bank49
9Bank of Queensland35

* Assets calculated using the exchange rate of 1.227 AUD = 1 USD

International Accounts

Exports: $251 billion (16% of GDP) in 201324

Imports: $246 billion (16% of GDP) in 201324

Trade Balance: +$5 billion (0% of GDP) in 201324

Foreign Direct Investment Inflow: $50.8 billion (3% of GDP)in 201325

Foreign Direct Investment Outflow: $7.4 billion (0.5% of GDP) in 201325

Foreign Aid Inflow: N/A

Foreign Aid Outflow: $4.8 billion (0.3% of GDP) in 201326


1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: The Guardian (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: International Labor Organization, Downloads (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: CIA World Factbook (Gini coefficient) Go back
12. Source: CIA World Factbook (Government budget) Go back
13. Source: OECD Stats, National Accounts, Quarterly Public Sector Debt (Public debt) Go back
14. Source: Bloomberg (Government bond yield) Go back
15. Source: Australia Future Fund (Public funds) Go back
16. Source: OECD Stat Extracts, Public Sector, Tax Database (Individual tax rates) Go back
17. Source: Tax Foundation (Corporate tax rate) Go back
18. Source: Reserve Bank of Australia, Money and Credit Statistics (Money supply) Go back
19. Source: Reserve Bank of Australia (Benchmark interest rate) Go back
20. Source: World Bank Indicators (Total reserves) Go back
21. Source: Google Finance (Exchange rate) Go back
22. Source: World Bank Indicators (Inflation rate) Go back
23. Source: Relbanks.com (Financial institutions by assets) Go back
24. Source: CIA World Factbook (Trade data) Go back
25. Source: OECD FDI in Figures (FDI data) Go back
26. Source: OECD Aid Statisitcs (Aid outflow) Go back