Annual Macroeconomic Snapshot • 1990s
The Australian Economy in 1994
In 1994, Australia’s Estimated Resident Population stood at 17,893,433, real GDP growth averaged 4.9%, annual CPI inflation averaged 1.9% and the unemployment rate averaged 9.7%.
- • The RBA overnight/target cash rate ended 1994 at 7.05%, while 10-year Australian Government bond yields averaged 9.04%.
- • The Australian Dollar averaged US$0.7311 against the US Dollar during 1994.
1994 Economic Indicators at a Glance
% p.a.
Rank #73 of 104 yrs
Inflation (CPI) in 1994
1.9% Long-run avg: 4.0%
+0.1 pp %
Rank #4 of 77 yrs
Unemployment Rate in 1994
9.7% Long-run avg: 4.8%
-1.2 pp % p.a.
Rank #19 of 77 yrs
Real GDP Growth in 1994
4.9% Long-run avg: 3.4%
+1.0 pp Persons
Rank #33 of 126 yrs
Population in 1994
17.89M Long-run avg: 12,689,752
+174,343 % p.a.
Rank #108 of 125 yrs
Population Growth in 1994
0.98% Long-run avg: 1.61%
+0.06 pp % p.a.
Rank #20 of 78 yrs
10-Year Bond Yield in 1994
9.04% Long-run avg: 6.63%
+1.76 pp % p.a.
Rank #16 of 51 yrs
RBA Cash Rate in 1994
7.05% Long-run avg: 6.48%
+2.30 pp US$ per A$1
Rank #50 of 67 yrs
AUD/USD Exchange Rate in 1994
US$0.7311 Long-run avg: US$0.8921
+0.0511 % of disposable income
Rank #46 of 68 yrs
Household Saving Ratio in 1994
5.9% Long-run avg: 9.0%
+0.7 pp % of GDP
Rank #43 of 68 yrs
Trade Balance (% GDP) in 1994
-1.2% Long-run avg: -0.5%
-0.8 pp '000 dwellings / month
Rank #9 of 62 yrs
Dwelling Approvals in 1994
184.9k Long-run avg: 152.7
+14.8 % p.a.
Wage Growth (WPI) in 1994
N/A Series commenced later
1994 in Context: Preceding & Following Years (1989–1999)
10-year window around 1994 showing how key indicators evolved before and after