Table1: Real GDP and Economic growth rate of Australia (2000-2016) Year Real GDP (Billion) Real GDP Growth rate 2000 847.014 – 3.87% 2001 863.362 1.93% 2002 896.627 3.85% 2003 924.138 3.07% 2004 962.45 4.15% 2005 993.283 3.20% 2006 1023 2.99% 2007 1061 3.71% 2008 1100 3.68% 2009 1120 1.82% 2010 1143 2.05% 2011 1170 2.36% 2012

The economy of Australia is one of the most prominent economies in the global scenario. Over the last few decades the growth of the country, in terms of

The Economy of Australia as a Global Economic Leader

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However, in the last few years, this growth has been hampered to a considerable extent, with the primary indicator of economic growth, the Gross Domestic Product, decreasing consistently in the recent period (Bishop et al. Trends in economic growth of Australia In the last few years, the GDP of the country has been seen to be decreasing considerably, which can be seen from the following figure: Figure 1: GDP of Australia over the last five years (Source: Tradingeconomics.com, 2018) As can

The Economy of Australia as a Global Economic Leader

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