EconomyAustralia edition
Australia's economic growth: eight years of annual figures
Australia's economy grew 1.35% in 2025, slightly below 1.37% in 2024 and well below the 4.25% recorded in 2022.
- 20182.87%
- 20192.19%
- 2020-0.13%
- 20212.01%
- 20224.25%
- 20233.58%
- 20241.37%
- 20251.35%
What the latest annual figure shows
If you have felt that the economy has been moving slowly, the annual growth figures agree. Australia's GDP grew 1.35% in 2025. That is a little lower than the 1.37% recorded in 2024.
Sources for this paragraph (2)
- F8 Australia GDP growth (annual %) · 1.35% · 2025 · World Bank
- F7 Australia GDP growth (annual %) · 1.37% · 2024 · World Bank
The economy is still growing. It has simply grown more slowly in each of the past three years.
Sources for this paragraph (4)
- F5 Australia GDP growth (annual %) · 4.25% · 2022 · World Bank
- F6 Australia GDP growth (annual %) · 3.58% · 2023 · World Bank
- F7 Australia GDP growth (annual %) · 1.37% · 2024 · World Bank
- F8 Australia GDP growth (annual %) · 1.35% · 2025 · World Bank
Year by year, 2018 to 2025
All figures are annual GDP growth, in per cent, for each calendar year. In 2018 growth was 2.87%. In 2019 it was 2.19%.
Sources for this paragraph (2)
- F1 Australia GDP growth (annual %) · 2.87% · 2018 · World Bank
- F2 Australia GDP growth (annual %) · 2.19% · 2019 · World Bank
In 2020 the economy shrank, with growth of -0.13%. It returned to growth of 2.01% in 2021.
Sources for this paragraph (2)
- F3 Australia GDP growth (annual %) · -0.13% · 2020 · World Bank
- F4 Australia GDP growth (annual %) · 2.01% · 2021 · World Bank
Growth peaked at 4.25% in 2022. It then eased to 3.58% in 2023, 1.37% in 2024 and 1.35% in 2025.
Sources for this paragraph (4)
- F5 Australia GDP growth (annual %) · 4.25% · 2022 · World Bank
- F6 Australia GDP growth (annual %) · 3.58% · 2023 · World Bank
- F7 Australia GDP growth (annual %) · 1.37% · 2024 · World Bank
- F8 Australia GDP growth (annual %) · 1.35% · 2025 · World Bank
How 2025 compares with earlier years
The 2025 figure of 1.35% is the lowest in this series apart from 2020, when the economy contracted. It is below both pre-2020 years, 2.87% in 2018 and 2.19% in 2019.
Sources for this paragraph (4)
- F8 Australia GDP growth (annual %) · 1.35% · 2025 · World Bank
- F3 Australia GDP growth (annual %) · -0.13% · 2020 · World Bank
- F1 Australia GDP growth (annual %) · 2.87% · 2018 · World Bank
- F2 Australia GDP growth (annual %) · 2.19% · 2019 · World Bank
Compared with 2024, growth was almost unchanged, moving from 1.37% to 1.35%. Compared with the 2022 peak of 4.25%, it is much lower.
Sources for this paragraph (3)
- F7 Australia GDP growth (annual %) · 1.37% · 2024 · World Bank
- F8 Australia GDP growth (annual %) · 1.35% · 2025 · World Bank
- F5 Australia GDP growth (annual %) · 4.25% · 2022 · World Bank
What it means for people living in Australia
Slower growth means the total value of goods and services produced is rising more slowly than in 2022 and 2023. The growth figures alone do not show how any individual household is faring.
Sources for this paragraph (3)
- F5 Australia GDP growth (annual %) · 4.25% · 2022 · World Bank
- F6 Australia GDP growth (annual %) · 3.58% · 2023 · World Bank
- F8 Australia GDP growth (annual %) · 1.35% · 2025 · World Bank
Other official figures give a picture of everyday conditions, though they are separate statistics and are not measured the same way as GDP. In August 2026, consumer prices were 4% higher than 12 months earlier.
Sources for this paragraph (1)
- C1 Australia consumer price inflation (12-month change) · 4% · 2026-08 · Australian Bureau of Statistics
On jobs, the seasonally adjusted unemployment rate was 4.72% in September 2026.
Sources for this paragraph (1)
- C5 Australia unemployment rate (seasonally adjusted) · 4.72% · 2026-09 · Australian Bureau of Statistics
What the data does and does not tell us
The most recent annual growth figure is for 2025. The data provided does not include any growth figure for 2026, so it cannot say whether growth has picked up or slowed further this year.
Sources for this paragraph (1)
- F8 Australia GDP growth (annual %) · 1.35% · 2025 · World Bank
The figures show the direction of growth but not its causes. Nothing in this data explains why growth eased after 2022.
Sources for this paragraph (4)
- F5 Australia GDP growth (annual %) · 4.25% · 2022 · World Bank
- F6 Australia GDP growth (annual %) · 3.58% · 2023 · World Bank
- F7 Australia GDP growth (annual %) · 1.37% · 2024 · World Bank
- F8 Australia GDP growth (annual %) · 1.35% · 2025 · World Bank
The price and unemployment figures cover different periods and use different methods from GDP growth. They should be read alongside the growth figures, not compared with them as if they measured the same thing.
Sources for this paragraph (3)
- C1 Australia consumer price inflation (12-month change) · 4% · 2026-08 · Australian Bureau of Statistics
- C5 Australia unemployment rate (seasonally adjusted) · 4.72% · 2026-09 · Australian Bureau of Statistics
- F8 Australia GDP growth (annual %) · 1.35% · 2025 · World Bank
Scenarios to watch
- Scenario, not a forecast If the next annual growth figure comes in above 1.35%, it would end three consecutive years of slowing growth.
- Scenario, not a forecast If the next annual figure comes in below 1.35%, it would be a fourth consecutive year of slower growth.
- Scenario, not a forecast If the next figure is close to 1.35%, it would suggest growth has settled at the lower level seen in 2024 and 2025.
What to check next
- The first official annual GDP growth figure for 2026
- The next monthly consumer price figure, reported as a 12-month change
- The next seasonally adjusted unemployment rate
Verified data used in this report
| Indicator | Value | Period | Sources | Accessed | |
|---|---|---|---|---|---|
| F1 | Australia GDP growth (annual %) | 2.87% | 2018 | World Bank | |
| F2 | Australia GDP growth (annual %) | 2.19% | 2019 | World Bank | |
| F3 | Australia GDP growth (annual %) | -0.13% | 2020 | World Bank | |
| F4 | Australia GDP growth (annual %) | 2.01% | 2021 | World Bank | |
| F5 | Australia GDP growth (annual %) | 4.25% | 2022 | World Bank | |
| F6 | Australia GDP growth (annual %) | 3.58% | 2023 | World Bank | |
| F7 | Australia GDP growth (annual %) | 1.37% | 2024 | World Bank | |
| F8 | Australia GDP growth (annual %) | 1.35% | 2025 | World Bank | |
| C1 | Australia consumer price inflation (12-month change) | 4% | 2026-08 | Australian Bureau of Statistics | |
| C2 | Australia electricity price inflation (12-month change) | 13.2% | 2026-08 | Australian Bureau of Statistics | |
| C3 | Australia food price inflation (12-month change) | 3% | 2026-08 | Australian Bureau of Statistics | |
| C4 | Australia rent prices (CPI, 12-month change) | 3.6% | 2026-08 | Australian Bureau of Statistics | |
| C5 | Australia unemployment rate (seasonally adjusted) | 4.72% | 2026-09 | Australian Bureau of Statistics | |
| C7 | Australia Unemployment, total (% of labour force, ILO modelled estimate) | 4.09% | 2025 | World Bank | |
| C8 | Australia Fertility rate, total (births per woman) | 1.48 | 2024 | World Bank | |
| C9 | Australia Population aged 65 and above (% of total population) | 18.09% | 2025 | World Bank | |
| C10 | Australia Population growth (annual %) | 1.53% | 2025 | World Bank |
Sources
How this report was checked
- Data: the newest reference period cited is 2026-09.
- Figures were collected from the source on
- Written by an AI model (claude-opus-5-5) using only the official figures listed in this report.
- Automatic checks passed: every number matches a cited figure, every paragraph names its evidence, and there is no investment advice or copied source text.
- A separate quality-check model raised concerns, and the report was rewritten once to address them.
- No person reviewed this report before publication. Automatic checks confirm the numbers, not every interpretation.
Update history
- 2026-10-27 21:00 UTC — created
- 2026-10-27 21:00 UTC — approved+published