Australia : economic indicators and trade with EU

Abstract

Australia was the world's 13th largest economy in 2018, with growth in gross domestic product (GDP) at 2.9 %. It has a strong and dynamic relationship with the EU. Negotiations for a free trade agreement between Australia and the EU were formally launched in June 2018. In 2018, Australia was the EU's 19th largest trading partner, with a 1.2% share of the EU's total trade. Further information on EU-Australia trade relations, such as the composition of trade between the two partners, can be found in this infographic, which also provides an economic snapshot of Australia.