Annual Macroeconomic Snapshot • 2000s • Introduction of the 10% Goods and Services Tax (GST)
The Australian Economy in 2000
In 2000, Australia’s Estimated Resident Population stood at 19,141,036, real GDP growth averaged 3.1%, annual CPI inflation averaged 4.4% and the unemployment rate averaged 6.3%.
- • The RBA overnight/target cash rate ended 2000 at 6.25%, while 10-year Australian Government bond yields averaged 6.31%.
- • The Australian Dollar averaged US$0.5819 against the US Dollar during 2000.
- • Key macroeconomic milestone: Introduction of the 10% Goods and Services Tax (GST).
2000 Economic Indicators at a Glance
% p.a.
Rank #31 of 104 yrs
Inflation (CPI) in 2000
4.4% Long-run avg: 4.0%
+3.0 pp %
Rank #21 of 77 yrs
Unemployment Rate in 2000
6.3% Long-run avg: 4.8%
-0.6 pp % p.a.
Rank #38 of 77 yrs
Real GDP Growth in 2000
3.1% Long-run avg: 3.4%
-1.3 pp Persons
Rank #27 of 126 yrs
Population in 2000
19.14M Long-run avg: 12,689,752
+221,826 % p.a.
Rank #91 of 125 yrs
Population Growth in 2000
1.17% Long-run avg: 1.61%
+0.03 pp % p.a.
Rank #28 of 78 yrs
10-Year Bond Yield in 2000
6.31% Long-run avg: 6.63%
+0.30 pp % p.a.
Rank #19 of 51 yrs
RBA Cash Rate in 2000
6.25% Long-run avg: 6.48%
+1.25 pp US$ per A$1
Rank #65 of 67 yrs
AUD/USD Exchange Rate in 2000
US$0.5819 Long-run avg: US$0.8921
-0.0635 % of disposable income
Rank #61 of 68 yrs
Household Saving Ratio in 2000
1.0% Long-run avg: 9.0%
+0.5 pp % of GDP
Rank #43 of 68 yrs
Trade Balance (% GDP) in 2000
-1.2% Long-run avg: -0.5%
+1.4 pp '000 dwellings / month
Rank #40 of 62 yrs
Dwelling Approvals in 2000
139.6k Long-run avg: 152.7
-25.5 % p.a.
Rank #18 of 29 yrs
Wage Growth (WPI) in 2000
3.1% Long-run avg: 3.1%
0.0 pp 2000 in Context: Preceding & Following Years (1995–2005)
10-year window around 2000 showing how key indicators evolved before and after