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Economic Growth•Series ID: GGDPCVGDPY•1950–2026

Australian Real GDP Growth Rate - Historical Data

Measures the annual rate of expansion of total economic output produced in Australia, adjusted for price changes.

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Current Statistics & Historical Records

Latest Reading (2026 Q2)
2.1%
Prev (2026 Q1): 2.5%-0.4 pp
Highest Recorded (2021 Q2)
10.2%

Recorded in 2021 Q2

Lowest Recorded (2020 Q2)
-5.8%

COVID-19 pandemic shock & 0.10% cash rate floor

Long-Run Mean (1950–2026)
3.4%

77 annual observations · Quarterly

Australian Real GDP Growth Rate - Historical Series (1950–2026)

% p.a.

Drag to pan, scroll to zoom, or toggle between full annual history (1950–2026) and recent quarterly releases.

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Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (GGDPCVGDPY) Latest: 2.1 % p.a. (2026 Q2)

Australian Real GDP Growth Rate by Decade (1950–2026)

Decade averages, peaks, and troughs across Australian economic cycles

1950s1950–1959
4.4%
High (1950):7.9%
Low (1953):-0.9%
1960s1960–1969
4.9%
High (1967):7.3%
Low (1961):0.0%
1970s1970–1979
3.3%
High (1970):6.8%
Low (1977):1.3%
1980s1980–1989
3.4%
High (1984):6.7%
Low (1983):-0.6%
1990s1990–1999
3.3%
High (1994):4.9%
Low (1991):-1.0%
2000s2000–2009
3.1%
High (2007):4.4%
Low (2009):1.9%
2010s2010–2019
2.6%
High (2012):3.8%
Low (2019):2.0%
2020s2020–2026
2.1%
High (2021):5.4%
Low (2020):-2.0%

Australian Real GDP Growth Rate - Historical Table (1950–2026)

Unit: % p.a. · Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (GGDPCVGDPY)

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YearGDP Growth (% p.a.)Year Range (Low – High)Historical Context / Year Snapshot
20262.3%2.1% – 2.5% The Australian Economy in 2026 →
20252.0%1.3% – 2.6%Disinflation & monetary policy recalibration
20241.0%0.8% – 1.2% The Australian Economy in 2024 →
20232.1%1.3% – 2.8% The Australian Economy in 2023 →
20224.2%3.3% – 6.1%Post-pandemic inflation surge & rapid RBA tightening cycle
20215.4%2.0% – 10.2% The Australian Economy in 2021 →
2020-2.0%-5.8% – 1.3%COVID-19 pandemic shock & 0.10% cash rate floor
20192.0%1.7% – 2.2% The Australian Economy in 2019 →
20182.8%2.4% – 3.2% The Australian Economy in 2018 →
20172.4%2.1% – 3.1% The Australian Economy in 2017 →
20162.7%2.2% – 3.2% The Australian Economy in 2016 →
20152.3%1.9% – 2.7% The Australian Economy in 2015 →
20142.6%2.1% – 2.9% The Australian Economy in 2014 →
20132.2%2.0% – 2.5% The Australian Economy in 2013 →
20123.8%2.8% – 4.8% The Australian Economy in 2012 →
20112.8%1.9% – 3.5%China mining investment & Terms of Trade supercycle peak
20102.4%2.2% – 2.6% The Australian Economy in 2010 →
20091.9%1.5% – 2.8% The Australian Economy in 2009 →
20082.6%1.7% – 3.3%Global Financial Crisis (GFC) & emergency rate cuts
20074.4%3.6% – 4.9% The Australian Economy in 2007 →
20062.6%2.3% – 3.1% The Australian Economy in 2006 →
20053.0%2.7% – 3.2% The Australian Economy in 2005 →
20044.1%3.0% – 5.0% The Australian Economy in 2004 →
20033.0%1.7% – 4.1% The Australian Economy in 2003 →
20024.2%3.6% – 4.9% The Australian Economy in 2002 →
20012.6%1.7% – 4.2% The Australian Economy in 2001 →
20003.1%1.2% – 4.2%Introduction of the 10% Goods and Services Tax (GST)
19994.4%3.8% – 5.3% The Australian Economy in 1999 →
19984.7%3.3% – 5.3% The Australian Economy in 1998 →
19974.7%3.1% – 5.5% The Australian Economy in 1997 →
19964.0%3.0% – 4.5% The Australian Economy in 1996 →
19953.0%2.3% – 3.8% The Australian Economy in 1995 →
19944.9%4.2% – 5.6% The Australian Economy in 1994 →
19933.9%3.2% – 4.5%RBA formalises 2–3% inflation targeting
19922.6%1.1% – 4.7% The Australian Economy in 1992 →
1991-1.0%-1.4% – -0.5%Early 1990s recession ("The recession we had to have")
19901.5%0.1% – 3.5%Monetary tightening peak (17.5% Cash Rate)
19894.6%3.5% – 5.7% The Australian Economy in 1989 →
19884.2%3.0% – 6.0% The Australian Economy in 1988 →
19875.0%2.7% – 6.6%October 1987 sharemarket crash
19862.1%0.5% – 4.0% The Australian Economy in 1986 →
19855.0%4.2% – 5.7% The Australian Economy in 1985 →
19846.7%5.2% – 8.3% The Australian Economy in 1984 →
1983-0.6%-3.4% – 3.3%Float of the Australian Dollar & Prices and Incomes Accord
19820.2%-2.2% – 2.4%Early 1980s recession & drought
19814.1%2.9% – 5.8% The Australian Economy in 1981 →
19802.9%1.7% – 3.6% The Australian Economy in 1980 →
19794.1%2.9% – 6.0% The Australian Economy in 1979 →
19782.2%0.8% – 3.9% The Australian Economy in 1978 →
19771.3%0.1% – 2.6% The Australian Economy in 1977 →
19764.3%2.0% – 6.5% The Australian Economy in 1976 →
19752.0%-0.4% – 4.9% The Australian Economy in 1975 →
19741.6%-0.7% – 3.8%1974 wage explosion & stagflation peak
19735.0%3.3% – 6.4%First OPEC oil shock
19721.9%0.2% – 3.8% The Australian Economy in 1972 →
19713.8%1.9% – 5.3% The Australian Economy in 1971 →
19706.8%4.4% – 8.3% The Australian Economy in 1970 →
19696.8%5.3% – 8.4% The Australian Economy in 1969 →
19685.2%1.7% – 8.2% The Australian Economy in 1968 →
19677.3%6.4% – 9.0% The Australian Economy in 1967 →
19662.8%1.0% – 4.6%Decimal currency transition (£ to AUD)
19655.1%2.4% – 6.9% The Australian Economy in 1965 →
19646.1%4.8% – 8.8% The Australian Economy in 1964 →
19636.2%3.6% – 7.4% The Australian Economy in 1963 →
19625.4%2.1% – 7.5% The Australian Economy in 1962 →
19610.0%-1.7% – 3.1%Menzies credit squeeze
19603.9%3.3% – 4.5% The Australian Economy in 1960 →
19597.3%7.3% The Australian Economy in 1959 →
19582.1%2.1% The Australian Economy in 1958 →
19572.0%2.0% The Australian Economy in 1957 →
19564.8%4.8% The Australian Economy in 1956 →
19555.9%5.9% The Australian Economy in 1955 →
19546.3%6.3% The Australian Economy in 1954 →
1953-0.9%-0.9% The Australian Economy in 1953 →
19522.7%2.7% The Australian Economy in 1952 →
19516.1%6.1%Korean War wool price boom & inflation spike
19507.9%7.9% The Australian Economy in 1950 →

Related Australian Economic Statistics

Real GDP Per Capita GrowthEconomic Growth · 1974–2026
0.7%2026 Q2
Nominal Gross Domestic Product (Current Prices)Economic Growth · 1959–2026
$742.5b2026 Q2
Household Final Consumption GrowthEconomic Growth · 1960–2026
1.8%2026 Q2
Private Business Investment GrowthEconomic Growth · 1986–2026
10.5%2026 Q2
 Compare GDP Growth against another indicator →

Source Information & Methodology

Primary Institution:
Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS)
Dataset / Publication:
Gross Domestic Product - Real Chain Volume Year-Ended Growth
Series / Table ID:
RBA Statistical Table H1 (GGDPCVGDPY)
Release Frequency:
Quarterly
Licence:
CC BY 4.0 International / RBA Terms

• Primary source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) - Gross Domestic Product - Real Chain Volume Year-Ended Growth (RBA Statistical Table H1).

• Observation frequency: Quarterly. Annual table values represent calendar year averages.

• Series coverage spans 1950 to 2026 (77 annual observations).

APA Citation:Reserve Bank of Australia & Australian Bureau of Statistics. (2026). Gross Domestic Product - Real Chain Volume Year-Ended Growth (H1: GGDPCVGDPY). Retrieved October 2026 from https://www.rba.gov.au/statistics/tables/

Frequently Asked Questions: Australian Real GDP Growth Rate

What is the current Australian Real GDP Growth Rate?
As of 2026 Q2, the latest recorded Australian Real GDP Growth Rate is 2.1 (% p.a.), compared with 2.5 in 2026 Q1.
What is the highest and lowest Australian Real GDP Growth Rate ever recorded in Australia?
Across the historical series (1950–2026), the highest observation was 10.2 (% p.a.) in 2021 Q2, while the lowest was -5.8 (% p.a.) in 2020 Q2. The long-run historical average is 3.4.
Where is the official Australian Real GDP Growth Rate data sourced from?
This series is compiled from Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (Gross Domestic Product - Real Chain Volume Year-Ended Growth, Series ID: GGDPCVGDPY) and is updated on a quarterly basis under CC BY 4.0 International / RBA Terms.