Overview
Discussions Key data points
Last release
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Observation period
Q3 2024
Next release
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Forecast
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Highest
654.91 B AUD on Sep 30, 2024
Lowest
74.02 B AUD on Sep 30, 1959
About Australia real GDP
Related indicators
Frequently Asked Questions
Real GDP is calculated using a GDP price deflator, which is the difference in prices between the current year and the base year. Then nominal GDP (GDP adjusted for inflation) is divided by this deflator, yielding real GDP. Nominal GDP is usually higher than real GDP because inflation is typically a positive number.
Since GDP measures an economy's output, it is subject to inflationary pressure. So real GDP is a measure of an economy's output adjusted for inflation.
Last quarter Australia real GDP was 654.91 B AUD, and the quarter before that it reached 652.73 B AUD.