Australia is highly developed country with high standard of living and developed market economy. According to projections from trading economies and World Bank official data, gross domestic product Australia was worth of A$1.89 trillion as of 2019. As of September 2019 total wealth of Australia was about AUD$10.9 trillion. In year 2018, Australia turn out to be the nation with utmost average wealth per adult but fell back to 2nd highest position in 2019 by Switzerland. In 2017, Australia was 25th largest goods exporter, 20th largest goods importer, 20th largest by purchasing power parity (PPP) and 13th largest by nominal GDP.
Australian economy has remained stable and resilient and has not practiced any stagnation since July 1991. Australian Securities Exchange is world 16th largest stock exchange market in term of domestic market capitalization. Australia is member of many international organizations such as WTO, G20, OECD, and APEC. The country has also signed free trade agreement with China, Chile, Canada, Malaysia, South Korea, Peru, New Zealand, Singapore, Japan, and United State of America, Thailand and ASEAN.
Per capita gross domestic product of Australia is higher than Canada, United Kingdom, France, Germany, in term of purchasing power parity. Australia is ranked 18th in the world according to per capita GDP. The currency of Australia and its terrains is Australian dollar with symbol A$ which it shares with numerous pacific nation states.
The gross domestic product Australia represents 1.20% of total world economy. GDP Australia is strong economic indicator which has great impact on world economy and forex trading. The official data of Gross domestic product Australia is released on quarterly basis by Australian Bureau of Statistics.