Real Gross Domestic Product for Australia
NGDPRSAXDCAUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
659,819.00
Year-over-Year Change
5.23%
Date Range
7/1/1959 - 1/1/2025
Summary
The Real Gross Domestic Product (GDP) for Australia measures the total value of goods and services produced in the country, adjusted for inflation. It is a key indicator of economic growth and performance.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Real GDP is a comprehensive measure of a country's economic activity. It tracks the volume of final goods and services produced, providing insights into the overall health and productivity of the Australian economy over time.
Methodology
The Australian Bureau of Statistics collects and calculates this data using established national accounting standards.
Historical Context
Real GDP is closely monitored by policymakers, analysts, and investors to assess the strength of the Australian economy and inform economic decision-making.
Key Facts
- Australia's real GDP grew by 3.1% in 2021.
- The service sector accounts for over 60% of Australia's real GDP.
- Real GDP per capita is a measure of a country's standard of living.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product (GDP) for Australia measures the total value of goods and services produced in the country, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a key indicator of economic growth and performance, providing insights into the overall health and productivity of the Australian economy.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics collects and calculates this data using established national accounting standards.
Q: How is this trend used in economic policy?
A: Real GDP is closely monitored by policymakers, analysts, and investors to assess the strength of the Australian economy and inform economic decision-making.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with some potential for slight delays in the release of the most recent figures.
Related Trends
Balance of Payments: Services: Expenditure for Australia
AUSB6DBSE02STSAQ
International Merchandise Trade Statistics: Exports: Commodities for Australia
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National Accounts: National Accounts Deflators: Gross Domestic Product: GDP Deflator for Australia
AUSGDPDEFQISMEI
International Trade: Net Trade: Value (Goods): Total for Australia
AUSXTNTVA01STSAQ
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics for Australia
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Bank Credit to Bank Deposits for Australia
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Citation
U.S. Federal Reserve, Real Gross Domestic Product for Australia (NGDPRSAXDCAUQ), retrieved from FRED.