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Australia - Gross domestic product based on purchasing-power-parity in current prices

1,248.22 (billion international dollars) in 2017

In 2017, GDP based on PPP for Australia was 1,248.22 billion international dollars. GDP based on PPP of Australia increased from 497.7 billion international dollars in 1998 to 1,248.22 billion international dollars in 2017 growing at an average annual rate of 4.97 %.

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What is GDP based on PPP?

GDP (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or "numeraire" currency.

What is Australia GDP based on PPP?

Date Value Change, %
2017 1,248.22 4.17 %
2016 1,198.30 3.73 %
2015 1,155.24 3.58 %
2014 1,115.32 4.56 %
2013 1,066.69 3.96 %
2012 1,026.01 5.89 %
2011 968.99 4.88 %
2010 923.86 3.56 %
2009 892.10 2.66 %
2008 869.01 4.66 %
2007 830.29 7.13 %
2006 775.03