Annual Macroeconomic Snapshot • 2000s
The Australian Economy in 2007
In 2007, Australia’s Estimated Resident Population stood at 21,016,121, real GDP growth averaged 4.4%, annual CPI inflation averaged 2.4% and the unemployment rate averaged 4.4%.
- • The RBA overnight/target cash rate ended 2007 at 6.75%, while 10-year Australian Government bond yields averaged 5.99%.
- • The Australian Dollar averaged US$0.8386 against the US Dollar during 2007.
2007 Economic Indicators at a Glance
% p.a.
Rank #67 of 104 yrs
Inflation (CPI) in 2007
2.4% Long-run avg: 4.0%
-1.1 pp %
Rank #46 of 77 yrs
Unemployment Rate in 2007
4.4% Long-run avg: 4.8%
-0.4 pp % p.a.
Rank #24 of 77 yrs
Real GDP Growth in 2007
4.4% Long-run avg: 3.4%
+1.8 pp Persons
Rank #20 of 126 yrs
Population in 2007
21.02M Long-run avg: 12,689,752
+388,574 % p.a.
Rank #39 of 125 yrs
Population Growth in 2007
1.88% Long-run avg: 1.61%
+0.32 pp % p.a.
Rank #30 of 78 yrs
10-Year Bond Yield in 2007
5.99% Long-run avg: 6.63%
+0.40 pp % p.a.
Rank #17 of 51 yrs
RBA Cash Rate in 2007
6.75% Long-run avg: 6.48%
+0.50 pp US$ per A$1
Rank #32 of 67 yrs
AUD/USD Exchange Rate in 2007
US$0.8386 Long-run avg: US$0.8921
+0.0852 % of disposable income
Rank #64 of 68 yrs
Household Saving Ratio in 2007
0.0% Long-run avg: 9.0%
+0.7 pp % of GDP
Rank #56 of 68 yrs
Trade Balance (% GDP) in 2007
-2.3% Long-run avg: -0.5%
-0.7 pp '000 dwellings / month
Rank #23 of 62 yrs
Dwelling Approvals in 2007
156.9k Long-run avg: 152.7
+4.9 % p.a.
Rank #2 of 29 yrs
Wage Growth (WPI) in 2007
4.1% Long-run avg: 3.1%
0.0 pp 2007 in Context: Preceding & Following Years (2002–2012)
10-year window around 2007 showing how key indicators evolved before and after