Australia's economy and labour market have been resilient, with rising employment and labour-force participation; projections show a continued robust output growth of around 3% in the near future. Living standards are good but socio-economic challenges remain, especially for more vulnerable groups with high risk of poverty.How is Australia doing economically?
Australia is an open market with minimal restrictions on imports of goods and services. The process of opening up has increased productivity, stimulated growth, and made the economy more flexible and dynamic. Australia plays an active role in the WTO, APEC, the G20, and other trade forums.What is the economic growth of Australia?
In 2019, GDP in Australia grew by about 1.84 percent on the previous year. GDP is one of the primary indicators used to gauge the state and health of a country's economy. It is the total market value of all final goods and services that have been produced within a country in a given period of time, usually a year.