Annual Macroeconomic Snapshot • 1980s • Early 1980s recession & drought
The Australian Economy in 1982
In 1982, Australia’s Estimated Resident Population stood at 15,288,891, real GDP growth averaged 0.2%, annual CPI inflation averaged 11.2% and the unemployment rate averaged 7.2%.
- • The RBA overnight/target cash rate ended 1982 at 11.46%, while 10-year Australian Government bond yields averaged 15.38%.
- • The Australian Dollar averaged US$1.0143 against the US Dollar during 1982.
- • Key macroeconomic milestone: Early 1980s recession & drought.
1982 Economic Indicators at a Glance
% p.a.
Rank #7 of 104 yrs
Inflation (CPI) in 1982
11.2% Long-run avg: 4.0%
+1.6 pp %
Rank #14 of 77 yrs
Unemployment Rate in 1982
7.2% Long-run avg: 4.8%
+1.4 pp % p.a.
Rank #72 of 77 yrs
Real GDP Growth in 1982
0.2% Long-run avg: 3.4%
-3.9 pp Persons
Rank #45 of 126 yrs
Population in 1982
15.29M Long-run avg: 12,689,752
+234,774 % p.a.
Rank #60 of 125 yrs
Population Growth in 1982
1.56% Long-run avg: 1.61%
-0.11 pp % p.a.
Rank #1 of 78 yrs
10-Year Bond Yield in 1982
15.38% Long-run avg: 6.63%
+1.42 pp % p.a.
Rank #8 of 51 yrs
RBA Cash Rate in 1982
11.46% Long-run avg: 6.48%
-4.16 pp US$ per A$1
Rank #25 of 67 yrs
AUD/USD Exchange Rate in 1982
US$1.0143 Long-run avg: US$0.8921
-0.1348 % of disposable income
Rank #26 of 68 yrs
Household Saving Ratio in 1982
13.0% Long-run avg: 9.0%
-1.5 pp % of GDP
Rank #66 of 68 yrs
Trade Balance (% GDP) in 1982
-2.8% Long-run avg: -0.5%
-0.2 pp '000 dwellings / month
Rank #60 of 62 yrs
Dwelling Approvals in 1982
109.8k Long-run avg: 152.7
-35.6 % p.a.
Wage Growth (WPI) in 1982
N/A Series commenced later
1982 in Context: Preceding & Following Years (1977–1987)
10-year window around 1982 showing how key indicators evolved before and after