21, Nov 2009, CST. Welcome to the Australia economic statistics pages provided by the beta version of EconomyWatch.com’s Econ Stats database.

Economic Indicators For: Australia › Change country
National or Regional Currency: Australian Dollar, AUD
Year of data: 2008 › Change year
Number of Indicators Listed: 26
Full Dataset: From Year 1980 to 2013
Date of Last Update: 1 Sept 2009
Population: 21,262,641 (July 2009 est.)
Area: total: 7,686,850 sq km land: 7,617,930 sq km water: 68,920 sq km note: includes Lord Howe Island and Macquarie Island
Natural Resources: bauxite, coal, iron ore, copper, tin, gold, silver, uranium, nickel, tungsten, mineral sands, lead, zinc, diamonds, natural gas, petroleum note: Australia is the world's largest net exporter of coal accounting for 29% of global coal exports
Government Type: Australia government type
Government Ministers: Australia ministers
Capital: Canberra
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook

Australia has an enviable, strong economy with a per capita Gross Domestic Product (GDP) on par with the four dominant West European economies. Emphasis on reform, depressed inflation rates, a housing market boom, and expanding ties with China have been key factors over the course of its economy's 17 solid years of expansion. Robust business and consumer confidence and high export prices or pricing for raw materials and agricultural, agrarian, fisheries and farming products fueled its economy in recent years, in particular in mining states. Drought, robust import demand, and a strong currency pushed the trade (imports and exports) deficit up however, while infrastructure and facilities bottlenecks and a tight workforce market constrained growth in export volumes and stoked inflation rates through mid-2008. The unwinding of the yen-based carry trade (imports and exports) in late 2008 has contributed to a weakening of the Australia dollar. Tight global liquidity has problemd Australia's banks and financial institutions and financial services sector, which relies heavily on international wholesale markets for funding. Its economy remains relatively healthy despite falling export commodity prices or pricing. The government plans to counter decreased growth in 2009 with economic stimulus efforts.
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GDP (Constant Prices, National Currency) for Australia in year 2008 is AUD 1,089.41 Billion. Real GDP is expressed in billions of national currency units; the base year is country-specific.

GDP Growth (Constant Prices, National Currency) for Australia in year 2008 is 2.061 %. Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific.

GDP (Current Prices, National Currency) for Australia in year 2008 is AUD 1,181.74 Billion. GDP is expressed in billions of national currency units.

GDP (Current Prices, US Dollars) for Australia in year 2008 is US$ 1,010.70 Billion. Values are based upon GDP in national currency and the exchange rate projections provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions for each WEO exercise.

GDP Deflator for Australia in year 2008 is 108.475 (Index, Base Year as per country's accounts = 100). The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation. Please note: Data are expressed in the base year of each country's national accounts.

GDP Per Capita (Constant Prices, National Currency) for Australia in year 2008 is AUD 51,091.69 . GDP is expressed in constant national currency per person. Data are derived by dividing constant price GDP by total population.

GDP Per Capita (Current Prices, National Currency) for Australia in year 2008 is AUD 55,421.94 . GDP is expressed in current national currency per person. Data are derived by dividing current price GDP by total population.

GDP Per Capita (Current Prices, US Dollars) for Australia in year 2008 is US$ 47,400.43 . GDP is expressed in current U.S. dollars per person. Data are derived by first converting GDP in national currency to U.S. dollars and then dividing it by total population.

Output Gap, Percent of Potential GDP for Australia in year 2008 is 1.75 %. Output gaps for advanced economies are calculated as actual GDP less potential GDP as a percent of potential GDP. Estimates of output gaps are subject to a significant margin of uncertainty. For a discussion of approaches to calculating potential output, see Paula R. De Masi, "IMF Estimates of Potential Output: Theory and Practice," in Staff Studies for the World Economic Outlook (Washington: IMF, December 1997), pp. 40-46.

GDP (PPP), US Dollars for Australia in year 2008 is US$ 795.305 Billion. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Per Capita (PPP), US Dollars for Australia in year 2008 is US$ 37,298.73 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Share of World Total (PPP) for Australia in year 2008 is 1.155 %. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Implied PPP Conversion Rate for Australia in year 2008 is 1.486 . These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Investment (% of GDP) for Australia in year 2008 is not available

Gross National Savings (% of GDP) for Australia in year 2008 is not available

Inflation, Average Consumer Prices (Indexed to Year 2000) for Australia in year 2008 is 128.368 (Index, Base Year 2000 = 100). Data for inflation are averages for the year, not end-of-period data. The index is based on 2000=100.

Inflation (Average Consumer Price Change %) for Australia in year 2008 is 4.353 %. Data for inflation are averages for the year, not end-of-period data.

Inflation, End of Year (Indexed to Year 2000) for Australia in year 2008 is 126.428 (Index, Base Year 2000 = 100). Data for inflation are end of the period, not annual average data. The index is based on 2000=100.

Inflation (End of Year Change %) for Australia in year 2008 is 3.685 %. Data for inflation are end of the period, not annual average data.

Six-month London Interbank Offered Rate (LIBOR) Change % for Australia in year 2008 is not available

Unemployment Rate (% of Labour Force) for Australia in year 2008 is 4.258 %.

Employment for Australia in year 2008 is 10.71 Million .

Population for Australia in year 2008 is 21.323 Million .

General Government Balance (National Currency) for Australia in year 2008 is AUD 1.125 Billion. Data are on a national income accounts basis. Please refer to Box A1 in the World Economic Outlook for a summary of the policy assumptions underlying the projections.

General Government Balance (% of GDP) for Australia in year 2008 is 0.095 %. Data are on a national income accounts basis. Please refer to Box A1 in the World Economic Outlook for a summary of the policy assumptions underlying the projections.

General Government Structural Balance (National Currency) for Australia in year 2008 is AUD -5.278 Billion. Data are on a national income accounts basis. The structural budget position is defined as the actual budget deficit (or surplus) less the effects of cyclical deviations of output from potential output. Because of the margin of uncertainty that attaches to estimates of cyclical gaps and to tax and expenditure elasticities with respect to national income, indicators of structural budget positions should be interpreted as broad orders of magnitude. Moreover, it is important to note that changes in structural budget balances are not necessarily attributable to policy changes but may reflect the built-in momentum of existing expenditure programs. In the period beyond that for which specific cons

General Government Structural Balance (% Potential GDP) for Australia in year 2008 is -0.454 %. Data are on a national income accounts basis. The structural budget position is defined as the actual budget deficit (or surplus) less the effects of cyclical deviations of output from potential output. Because of the margin of uncertainty that attaches to estimates of cyclical gaps and to tax and expenditure elasticities with respect to national income, indicators of structural budget positions should be interpreted as broad orders of magnitude. Moreover, it is important to note that changes in structural budget balances are not necessarily attributable to policy changes but may reflect the built-in momentum of existing expenditure programs. In the period beyond that for which specific cons

General Government Net Debt (National Currency) for Australia in year 2008 is not available

General Government Net Debt (% GDP) for Australia in year 2008 is not available

General Government Gross Debt (National Currency) for Australia in year 2008 is not available

General Government Gross Debt (% GDP) for Australia in year 2008 is not available

Current Account Balance (US Dollars) for Australia in year 2008 is US$ -42.833 Billion. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.

Current Account Balance (% GDP) for Australia in year 2008 is -4.238 %. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.