Australia economy size measured in Power Purchasing Parity, i.e. comparing relative standard of living and ability to afford goods and services. Australia’s Gross Domestic Product (GDP) chart showing historical economic growth as measured in PPP international dollars.
Australia: Australias GDP based on Purchasing Power Parity reflects a highly developed, resource-rich economy that combines significant natural exports with a service-driven domestic market. In terms of overall PPP-adjusted GDP, Australia ranks relatively high given its smaller population, demonstrating its economic strength on the global stage. However, it truly stands out in GDP PPP per capita, which is among the highest in the world. This high per capita value indicates a strong standard of living, widespread access to goods and services, and a well-distributed economic output across its population. Australias economic performance is driven by sectors like mining, finance, and education, with substantial exports to Asia, particularly China.