In 2023, Australia's GDP composition was primarily driven by the Services sector, contributing 52.26%, followed by Mining, Manufacturing, and Utilities at 17.03%. The Wholesale, Retail Trade, Restaurants, and Hotels sector accounted for 11.49% of GDP. Construction contributed 8.64%, with Transport, Storage, and Communication at 8.06%. The Agriculture sector was the smallest, comprising 2.52% of the GDP.
Looking forward, key trends to watch include technological advancements impacting the Services sector, potential growth in renewable energy influencing Mining and Utilities, and digital transformation within Wholesale and Retail Trade. Additionally, climate challenges and sustainable practices will likely impact Agriculture and Construction sectors in Australia.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 52.26 | 2016 | |
| 2 | 2 Mining, Manufacturing, Utilities | 17.03 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 11.49 | 2016 | |
| 4 | 4 Construction | 8.64 | 2016 | |
| 5 | 5 Transport, storage and communication | 8.06 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 2.52 | 2016 |
