Annual Macroeconomic Snapshot • 2010s
The Australian Economy in 2017
In 2017, Australia’s Estimated Resident Population stood at 24,759,018, real GDP growth averaged 2.4%, annual CPI inflation averaged 1.9% and the unemployment rate averaged 5.6%.
- • The RBA overnight/target cash rate ended 2017 at 1.50%, while 10-year Australian Government bond yields averaged 2.64%.
- • The Australian Dollar averaged US$0.7666 against the US Dollar during 2017.
2017 Economic Indicators at a Glance
% p.a.
Rank #73 of 104 yrs
Inflation (CPI) in 2017
1.9% Long-run avg: 4.0%
+0.6 pp %
Rank #33 of 77 yrs
Unemployment Rate in 2017
5.6% Long-run avg: 4.8%
-0.1 pp % p.a.
Rank #53 of 77 yrs
Real GDP Growth in 2017
2.4% Long-run avg: 3.4%
-0.3 pp Persons
Rank #10 of 126 yrs
Population in 2017
24.76M Long-run avg: 12,689,752
+373,954 % p.a.
Rank #63 of 125 yrs
Population Growth in 2017
1.53% Long-run avg: 1.61%
-0.14 pp % p.a.
Rank #74 of 78 yrs
10-Year Bond Yield in 2017
2.64% Long-run avg: 6.63%
+0.30 pp % p.a.
Rank #46 of 51 yrs
RBA Cash Rate in 2017
1.50% Long-run avg: 6.48%
0.00 pp US$ per A$1
Rank #39 of 67 yrs
AUD/USD Exchange Rate in 2017
US$0.7666 Long-run avg: US$0.8921
+0.0227 % of disposable income
Rank #54 of 68 yrs
Household Saving Ratio in 2017
4.6% Long-run avg: 9.0%
-0.8 pp % of GDP
Rank #16 of 68 yrs
Trade Balance (% GDP) in 2017
0.3% Long-run avg: -0.5%
+1.4 pp '000 dwellings / month
Rank #4 of 62 yrs
Dwelling Approvals in 2017
222.7k Long-run avg: 152.7
-8.6 % p.a.
Rank #26 of 29 yrs
Wage Growth (WPI) in 2017
2.0% Long-run avg: 3.1%
0.0 pp 2017 in Context: Preceding & Following Years (2012–2022)
10-year window around 2017 showing how key indicators evolved before and after