This Survey is published on the responsibility of the Economic and Development Review Committee (EDRC) of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of Australia were reviewed by the Committee on the 12th of December, 2016. The draft report was then revised in the light of the discussions and given final approval as the agreed report of the whole Committee on the 3rd of January, 2017.

The Secretariat’s draft report was prepared for the Committee by Philip Hemmings and Vassiliki Koutsogeorgopoulou under the supervision of Piritta Sorsa. Statistical research analysis was provided by Taejin Park. Administrative assistance was provided by Anthony Bolton and Brigitte Beyeler.

The previous Survey of Australia was issued in December 2014.

  
Basic statistics of Australia
(Numbers in parentheses refer to the OECD average)*

LAND, PEOPLE AND ELECTORAL CYCLE

Population (million)

23.9

Population density per km2

3.1

(35.1)

Under 15 (%)

18.9

(18.0)

Life expectancy (years, 2014)

82.4

(80.9)

Over 65 (%)

14.9

(16.3)

Men (2013)

80.1

(77.8)

Foreign-born (%, 2014)

28.1

 

Women (2013)

84.3

(83.1)

Latest 5-year average growth (%)

1.4

(0.4)

Latest general election

July 2016

ECONOMY

Gross domestic product (GDP)

 

 

Value added shares (%, 2014)

 

 

In current prices (billion USD)

1 229.6

 

Primary sector

2.6

(2.4)

In current prices (billion AUD)

1 633.8

 

Industry including mining and construction

25.4

(26.6)

Latest 5-year average real growth (%)

2.7

(1.9)

Services

72.0

(70.9)

Per capita (000 USD PPP)

46.7

(4.1)

 

 

 

GENERAL GOVERNMENT

Per cent of GDP

Expenditurea

35.7

(41.7)

Gross financial debta

44.2

(111.6)

Revenue

34.2

(38.5)

Net financial debta

-14.6

(72.7)

EXTERNAL ACCOUNTS

Exchange rate (AUD per USD)

1.329

 

Main exports (% of total merchandise exports)

 

PPP exchange rate (USA = 1)

1.462

 

Crude materials, inedible, except fuels

31.8

In per cent of GDP

 

 

Mineral fuels, lubricants and related materials

25.3

Exports of goods and services

19.3

(5.5)

Food and live animals

14.3

Imports of goods and services

21.6

(5.1)

Main imports (% of total merchandise imports)

 

Current account balance

-4.8

(0.2)

Machinery and transport equipment

39.6

Net international investment position

-56.8

 

Miscellaneous manufactured articles

15.1

 

Manufactured goods

12.2

LABOUR MARKET, SKILLS AND INNOVATION

Employment rate for 15-64 year-olds (%)

72.2

(66.2)

Unemployment rate, Labour Force Survey (age 15 and over) (%)

6.1

(6.8)

Men

77.5

(74.1)

Youth (age 15-24, %)

13.1

(13.9)

Women

66.8

(58.5)

Long-term unemployed (1 year and over, %)

1.4

(2.2)

Participation rate for 15-64 year-olds (%)

76.9

(71.2)

Tertiary educational attainment 25-64 year-olds (%)

42.9

(35.7)

Average hours worked per year

1 665

(1 766)

Gross domestic expenditure on R&D (% of GDP, 2013)

2.1

(2.4)

ENVIRONMENT

Total primary energy supply per capita (toe)

5.5

(4.1)

CO2 emissions from fuel combustion per capita (tonnes, 2014)

15.8

(9.4)

Renewables (% of total)

6.5

(9.6)

Water abstractions per capita (1 000 m3, 2011)

0.6

Fine particulate matter concentration (PM2.5, μg/m3)

6.7

(14.5)

Municipal waste per capita (tonnes, 2011)

0.6

(0.5)

SOCIETY

Income inequality (Gini coefficient, 2014b)

0.337

(0.31)

Education outcomes (PISA score)

 

 

Relative poverty rate (%, 2014b)

12.8

(11.0)

Reading

503

(496)

Median equivalised household income (000 USD PPP, 2014)

31.3

(22.4)

Mathematics

494

(494)

Public and private spending (% of GDP)

 

Science

510

(501)

Health care, current expenditure

9.3

(9.1)

Share of women in parliament (%, August 2016)

31.9

(27.8)

Pensions (2014b)

6.9

(9.1)

Net official development assistance (% of GNI)

0.27

(0.39)

Education (primary, secondary, post sec. non tertiary, 2013)

3.9

(3.7)

 

 

 

Better life index: www.oecdbetterlifeindex.org

← a. 2014 for the OECD aggregate

← b. 2013 for the OECD aggregate.

c. 2011 for the OECD aggregate.

* Data refer to 2015 unless otherwise stated. Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 29 member countries.

Source: Calculations based on data extracted from the databases of the following organisations: OECD, International Energy Agency, World Bank, International Monetary Fund and Inter-Parliamentary Union.