Published: Monday, 21th October 2024
In this page, you will find a detailed guide on the standard of living in Australia, covering various aspects such as economy, health system factors, environment, import-export, taxes and finances.
 Indicators  | Australia  |
|---|---|
Gross Domestic Product (GDP) (2023)  | $1.790 trillion USD |
GDP Per Capita (2023)  | 66,589 USD |
GINI Ratio (2023)  | 0.32 |
Inflation on Consumer Prices (2023)  | 5.6 % anually |
Central Government Debt (2023)  | 58 % of GDP |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Australia is $1.790 trillion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
Indicators | Australia |
|---|---|
Human Development Index (HDI) (2023)  | 0.946 |
Human Capital Index (HCI) (2023)  | 0.77 |
Literacy Rate (2023)  | 99% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 83.1 years |
Healthy Life Expectancy Ratio (2023)  | 70.6 years |
Poverty Ratio (2023)  | 13.4% of total Population |
Unemployment Rate (2023)  | 3.67% of total labor force |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living. This is expressed as a value between 0 and 1. The higher a country's human development, the higher its HDI value.
Indicators | Australia |
|---|---|
Gross National Expenditure (2023)  | 94.49% of GDP |
Total Health Expenditure (2023)  | 10.54% of GDP |
Research and Development Expenditure (2023)  | 1.83% of GDP |
Government Expenditure on Education (2023)  | 5.21% of GDP |
International Tourism Expenditure (2023)  | 7,654 million USD |
Number of International Tourists Arrivals (2023)  | 1,828,000 |
Military Expenditure (2023)  | 1.9% of GDP |
Indicators | Australia |
|---|---|
Number of Doctors (2023)  | 39.8 (Per 10,000 People) |
Number of Nurses (2023)  | 137.1 (Per 10,000 People) |
Number of Pharmacists (2023)  | 9.33 (Per 10,000 People) |
Available Hospital Beds (2023)  | 3.84 (Per 10,000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 98.3% of total Population |
Indicators | Australia |
|---|---|
Agricultural Land (2023)  | 3,635,190 sq km |
Forest Area (2023)  | 1,340,051 sq km |
CO2 Emissions (2023)  | 0.27 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100% of total Population |
Access to Internet (2023)  | 96.24% of total Population |
Annual Fresh Water Withdrawals (2023)  | 8.64 Billion cubic meters |
100% of the total Population of Australia has access to the electricity in their homes.
96.24% of the total Population of Australia has access to the Internet.
Indicators | Australia |
|---|---|
Time Required to Start a Business (2023)  | 2 Days |
New Businesses Registered (2023)  | 291,051 (New Businesses) |
New Businesses Registration Density (2023)  | 17.26 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 0.7% of GNI Per Capita |
In the year 2023, 291,051 new businesses got registered in Australia.
It usually takes 2 days in Australia to register a new business legally and systematically.
Indicators | Australia |
|---|---|
Imports of Goods and Services (2023)  | 21.36% of GDP |
Total Fuel Imports (2023)  | 14.79% of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 539 USD |
Time to Import Border Compliance (2023)  | 39 Hours |
Cost to Import Documentary Compliance (2023)  | 100 USD |
Time to Import Documentary Compliance (2023)  | 4 Hours |
Indicators | Australia |
|---|---|
Exports of Goods and Services (2023)  | 26.72% of GDP |
Total Fuel Exports (2023)  | 34.98% of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 766 USD |
Time to Export Border Compliance (2023)  | 35.5 Hours |
Cost to Export Documentary Compliance (2023)  | 264 USD |
Time to Export Documentary Compliance (2023)  | 7 Hours |
Indicators | Australia |
|---|---|
Gross National Savings (2023)  | 24.81% of GDP |
Tax Revenue (2023)  | 23.6% of GDP |
Taxes on Exports (2023)  | 0.003% of Tax Revenue |
Taxes on Goods and Services (2023)  | 17.79% of Tax Revenue |
Taxes on International Trade (2023)  | 2.72% of Revenue |
Time to Prepare and Pay Taxes (2023)  | 105 Hours |
Customs and Other Import Duties (2023)  | 3.08% of Tax Revenue |
We hope you enjoyed the detailed guide on the standard of living in Australia.
If you wish to compare Australia with other Countries, States and Cities in the world, you can use the search box above or click the links below.
The Comparedoo.com family sincerely appreciates your time with us. We look forward to seeing you on our other pages.
