Gross Domestic Product Australia
What is
Gross Domestic Product
Australia?
Gross Domestic Product Australia measure the total
market value of goods and services produced in Australia within a
given period (quarterly or annually) after deducting the cost of
goods and services used up in the process of production but before
deducting allowances for the consumption of fixed capital. It is
equivalent to gross national expenditure plus exports of goods and
services less imports of goods and services.
Why
Gross Domestic Product
Australia?
It acts as an indication to show the standard
living in Australia.
Who released
Gross Domestic Product
Australia?
It is released by Australian Bureau of Statistics
(ABS).
When is
Gross Domestic Product
Australia released?
It is released on quarterly basis.
How
Gross Domestic Product
Australia
works?
Gross Domestic Product Australia measure the total
market value of goods and services produced in Australia within a
given period (quarterly or annually). However, the result is presented on the
percentage change of the Gross Domestic Product as compared to the
previous quarter for Quarter over Quarter (QoQ) and the percentage
change compare to the particular quarter a year ago for Year over
Year (YoY). Below is an example on how the calculation is being
done.
Chain Volume GDP
in December quarter 2008 = 296,987m
Chain Volume GDP
in September quarter 2009 = 302,265m
Chain Volume GDP
in December quarter 2009 = 304,990m
Percentage change for December quarter 2009 (MoM) = [
(304,990m - 302,265m) / 302,265m ] X 100% = 0.9%
Percentage change for December quarter 2009 (YoY) = [
(304,990m - 296,987m) / 296,987m ] X 100% = 2.7%
The GDP is considered as a broad measure of
Australia economic activity and health. A rising trend has a
positive effect on the AUD, while a falling trend is seen as
negative or bearish for the AUD.
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