Annual Macroeconomic Snapshot • 2020s
The Australian Economy in 2021
In 2021, Australia’s Estimated Resident Population stood at 25,773,795, real GDP growth averaged 5.4%, annual CPI inflation averaged 2.9% and the unemployment rate averaged 5.1%.
- • The RBA overnight/target cash rate ended 2021 at 0.10%, while 10-year Australian Government bond yields averaged 1.48%.
- • The Australian Dollar averaged US$0.7518 against the US Dollar during 2021.
2021 Economic Indicators at a Glance
% p.a.
Rank #52 of 104 yrs
Inflation (CPI) in 2021
2.9% Long-run avg: 4.0%
+2.1 pp %
Rank #40 of 77 yrs
Unemployment Rate in 2021
5.1% Long-run avg: 4.8%
-1.4 pp % p.a.
Rank #12 of 77 yrs
Real GDP Growth in 2021
5.4% Long-run avg: 3.4%
+7.4 pp Persons
Rank #6 of 126 yrs
Population in 2021
25.77M Long-run avg: 12,689,752
+143,097 % p.a.
Rank #122 of 125 yrs
Population Growth in 2021
0.56% Long-run avg: 1.61%
+0.13 pp % p.a.
Rank #77 of 78 yrs
10-Year Bond Yield in 2021
1.48% Long-run avg: 6.63%
+0.56 pp % p.a.
Rank #50 of 51 yrs
RBA Cash Rate in 2021
0.10% Long-run avg: 6.48%
0.00 pp US$ per A$1
Rank #43 of 67 yrs
AUD/USD Exchange Rate in 2021
US$0.7518 Long-run avg: US$0.8921
+0.0613 % of disposable income
Rank #12 of 68 yrs
Household Saving Ratio in 2021
14.6% Long-run avg: 9.0%
-1.9 pp % of GDP
Rank #2 of 68 yrs
Trade Balance (% GDP) in 2021
4.9% Long-run avg: -0.5%
+1.8 pp '000 dwellings / month
Rank #3 of 62 yrs
Dwelling Approvals in 2021
223.9k Long-run avg: 152.7
+40.9 % p.a.
Rank #26 of 29 yrs
Wage Growth (WPI) in 2021
2.0% Long-run avg: 3.1%
+0.3 pp 2021 in Context: Preceding & Following Years (2016–2026)
10-year window around 2021 showing how key indicators evolved before and after