Calculate Gross Domestic Product (GDP) using all three approaches: expenditure, income, and production. Includes Australian GDP data from the ABS.
Expenditure Approach: GDP = C + I + G + (X−M)
| Metric | Value |
|---|
| Metric | Value |
|---|---|
| GDP (nominal) | ~$2.65 trillion AUD |
| GDP per capita | ~$100,000 AUD |
| GDP growth (2024) | ~1.5% real |
| Largest sector | Services (~70%) |
| ABS reference | ABS Cat. 5206.0 |
GDP (Gross Domestic Product) is the total monetary value of all goods and services produced in a country within a given period.
Expenditure (most common): GDP = C + I + G + (X−M)
Income: GDP = Wages + Profits + Rents + Interest
Production: GDP = Sum of value added at each stage