Annual Macroeconomic Snapshot • 2010s
The Australian Economy in 2016
In 2016, Australia’s Estimated Resident Population stood at 24,385,064, real GDP growth averaged 2.7%, annual CPI inflation averaged 1.3% and the unemployment rate averaged 5.7%.
- • The RBA overnight/target cash rate ended 2016 at 1.50%, while 10-year Australian Government bond yields averaged 2.34%.
- • The Australian Dollar averaged US$0.7439 against the US Dollar during 2016.
2016 Economic Indicators at a Glance
% p.a.
Rank #87 of 104 yrs
Inflation (CPI) in 2016
1.3% Long-run avg: 4.0%
-0.2 pp %
Rank #30 of 77 yrs
Unemployment Rate in 2016
5.7% Long-run avg: 4.8%
-0.4 pp % p.a.
Rank #46 of 77 yrs
Real GDP Growth in 2016
2.7% Long-run avg: 3.4%
+0.4 pp Persons
Rank #11 of 126 yrs
Population in 2016
24.39M Long-run avg: 12,689,752
+400,483 % p.a.
Rank #50 of 125 yrs
Population Growth in 2016
1.67% Long-run avg: 1.61%
+0.21 pp % p.a.
Rank #75 of 78 yrs
10-Year Bond Yield in 2016
2.34% Long-run avg: 6.63%
-0.38 pp % p.a.
Rank #46 of 51 yrs
RBA Cash Rate in 2016
1.50% Long-run avg: 6.48%
-0.50 pp US$ per A$1
Rank #45 of 67 yrs
AUD/USD Exchange Rate in 2016
US$0.7439 Long-run avg: US$0.8921
-0.0088 % of disposable income
Rank #50 of 68 yrs
Household Saving Ratio in 2016
5.4% Long-run avg: 9.0%
-1.3 pp % of GDP
Rank #41 of 68 yrs
Trade Balance (% GDP) in 2016
-1.1% Long-run avg: -0.5%
+1.2 pp '000 dwellings / month
Rank #2 of 62 yrs
Dwelling Approvals in 2016
231.3k Long-run avg: 152.7
-4.6 % p.a.
Rank #26 of 29 yrs
Wage Growth (WPI) in 2016
2.0% Long-run avg: 3.1%
-0.3 pp 2016 in Context: Preceding & Following Years (2011–2021)
10-year window around 2016 showing how key indicators evolved before and after