Data at glance of Australia - average on period

variable 1980-1989 1990-1999 2000-2007 2008-2009 2010-2019 2022 2023 2024 2025 2026
real gdp growth 3.32 3.43 3.31 2.2 2.17 2.1 1.0 2.0 2.0 1.7
CPI % 8.13 2.23 3.18 2.35 1.93 5.6 3.2 2.9 4.0 3.2
Unemployment rate 7.67 8.72 5.37 5.4 5.65 3.7 4.0 4.2 4.2 4.3
Debt/GDP % 16.7 26.35 12.4 18.45 37.97 49.4 50.6 51.0 50.6 50.7
Current account balance/GDP % -4.34 -3.99 -5.15 -4.1 -2.61 -0.4 -2.2 -2.6 -2.3 -2.2

Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here

History

Aboriginal Australians arrived on the continent at least 60,000 years ago and developed complex hunter-gatherer societies and oral histories. Dutch navigators led by Abel TASMAN were the first Europeans to land in Australia in 1606, and they mapped the western and northern coasts. They named the continent New Holland but made no attempts to permanently settle it. In 1770, Englishman James COOK sailed to the east coast of Australia, named it New South Wales, and claimed it for Great Britain. In 1788 and 1825 respectively, Great Britain established New South Wales and then Tasmania as penal colonies. Great Britain and Ireland sent more than 150,000 convicts to Australia before ending the practice in 1868. As Europeans began settling areas away from the coasts, they came into more direct contact with Aboriginal Australians. Europeans also cleared land for agriculture, impacting Aboriginal Australians’ ways of life. These issues, along with disease and a policy in the 1900s that forcefully removed Aboriginal children from their parents, reduced the Aboriginal Australian population from more than 700,000 pre-European contact to a low of 74,000 in 1933. Four additional colonies were established in Australia in the mid-1800s: Western Australia (1829), South Australia (1836), Victoria (1851), and Queensland (1859). Gold rushes beginning in the 1850s brought thousands of new immigrants to New South Wales and Victoria, helping to reorient Australia away from its penal colony roots. In the second half of the 1800s, the colonies were all gradually granted self-government, and in 1901, they federated and became the Commonwealth of Australia. Australia contributed more than 400,000 troops to Allied efforts during World War I, and Australian troops played a large role in the defeat of Japanese troops in the Pacific in World War II. Australia severed most constitutional links with the UK in 1942 but remained part of the British Commonwealth. Australia’s post-war economy boomed and by the 1970s, racial policies that prevented most non-Whites from immigrating to Australia were removed, greatly increasing Asian immigration to the country. In recent decades, Australia has become an internationally competitive, advanced market economy due in large part to economic reforms adopted in the 1980s and its proximity to East and Southeast Asia. In the early 2000s, Australian politics became unstable with frequent attempts to oust party leaders, including five changes of prime minister between 2010 and 2018. As a result, both major parties instituted rules to make it harder to remove a party leader.

Environment

Area: 7,741,220 sq km km2

Climate: generally arid to semiarid; temperate in south and east; tropical in north

Natural resources: alumina, coal, iron ore, copper, lithium, tin, gold, silver, uranium, nickel, tungsten, rare earth elements, mineral sands, lead, zinc, diamonds, opals, natural gas, petroleum

Ethnic characteristics

Groups: English 33%, Australian 29.9%, Irish 9.5%, Scottish 8.6%, Chinese 5.5%, Italian 4.4%, German 4%, Indian 3.1%, Australian Aboriginal 2.9%, Greek 1.7%, unspecified 4.7% (2021 est.)

Languages:

Religions: Roman Catholic 20%, Protestant 18.1% (Anglican 9.8%, Uniting Church 2.6%, Presbyterian and Reformed 1.6%, Baptist 1.4%, Pentecostal 1%, other Protestant 1.7%), other Christian 3.5%, Muslim 3.2%, Hindu 2.7%, Buddhist 2.4%, Orthodox 2.3% (Eastern Orthodox 2.1%, Oriental Orthodox 0.2%), other 2.1%, none 38.4%, unspecified 7.3% (2021 est.)

Government

Capital: Canberra

Government type: federal parliamentary democracy under a constitutional monarchy; a Commonwealth realm

Executive branch

Chief of state: King CHARLES III (since 8 September 2022); represented by Governor General Samantha (Sam) MOSTYN (since 1 July 2024)

Head of government: Prime Minister Anthony ALBANESE (since 23 May 2022)

Legislative branch

Description: Parliament - bicameral

Economic Overview

high-income and globally integrated economy; strong mining, manufacturing, and service sectors driving slow but steady growth; net exporter, driven by commodities to East Asian trade partners; weak productivity and aging population straining labor force participation

Industries

mining, industrial and transportation equipment, food processing, chemicals, steel

GDP by sector: Agriculture: 2.2% (2024 est.), Industry: 26% (2024 est.), Services: 65.5% (2024 est.)

Trade

Export partners: China 37%, Japan 16%, S. Korea 6%, India 5%, Taiwan 5% (2023)

Export commodities: iron ore, coal, natural gas, gold, minerals (2023)

Import partners: China 26%, USA 11%, S. Korea 6%, Japan 6%, Thailand 5% (2023)

Import commodities: refined petroleum, cars, trucks, broadcasting equipment, garments (2023)

Geography

Oceania, continent between the Indian Ocean and the South Pacific Ocean

Defence

Military expenditure: 2024: 2% of GDP (2024 est.)

Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.