Nominal Gross Domestic Product for Australia
NGDPSAXDCAUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
699,617.00
Year-over-Year Change
17.96%
Date Range
7/1/1959 - 1/1/2025
Summary
Nominal Gross Domestic Product (GDP) for Australia is a measure of the total value of goods and services produced in the Australian economy. 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
Nominal GDP represents the total monetary value of all final goods and services produced within Australia's borders over a specific period, without adjusting for inflation. It is a widely used metric to assess the size and health of the Australian economy.
Methodology
The Australian Bureau of Statistics collects and calculates the Nominal GDP data based on surveys and other economic indicators.
Historical Context
Nominal GDP data is closely watched by policymakers, analysts, and investors to gauge the overall economic conditions in Australia.
Key Facts
- Australia's Nominal GDP was $1.7 trillion in 2021.
- Nominal GDP grew by 6.2% in 2021 compared to the previous year.
- Australia is one of the largest economies in the Asia-Pacific region.
FAQs
Q: What does this economic trend measure?
A: Nominal Gross Domestic Product (GDP) for Australia measures the total monetary value of all final goods and services produced within the country's borders over a specific period, without adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: Nominal GDP is a widely used indicator of the size and overall performance of the Australian economy. It is closely monitored by policymakers, economists, and investors to assess economic conditions and growth.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics collects and calculates the Nominal GDP data based on surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: Nominal GDP data is used by policymakers, central banks, and analysts to inform economic and monetary policy decisions in Australia.
Q: Are there update delays or limitations?
A: The Nominal GDP data for Australia is typically released on a quarterly basis with a short delay, providing timely information on the state of the economy.
Related Trends
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LRUN25TTAUA156N
Sales: Retail Trade: Total Retail Trade: Volume for Australia
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National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Australia
NAEXKP03AUQ189S
Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Australia
AUSCP010000GPQ
Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Construction for Australia
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Number of Bank Branches for Australia
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Citation
U.S. Federal Reserve, Nominal Gross Domestic Product for Australia (NGDPSAXDCAUQ), retrieved from FRED.