04 Sep Australia GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Australia expanded 1.40 percent in the second quarter of 2019 over the same quarter of the previous year. GDP Annual Growth Rate in Australia averaged 3.29 percent from 1960 until 2019, reaching an all time high of 8.30 percent in the first quarter of 1967 and a record low of -3.50 percent in the second quarter of 1983. Australia’s economy is dominated by the service sector (65 percent of total GDP). Yet its economic success in recent years has been based on the mining (13.5 percent of GDP) and agriculture (2 percent of GDP) as the country is a major exporter of commodities. Other sectors include: manufacturing (11 percent) and construction (9.5 percent).
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