Economy of Australia
|
GDP (trillion USD – 2025)
|
1.84
|
Inflation Rate (%) (March 2026)
|
4.6
|
|
GDP Growth Rate (%) (2025)
|
1.6
|
Unemployment Rate (%) (April 2026)
|
4.5
|
|
Population (million) (September 2025)
|
27.7
|
Exports (goods and services-billion USD -2023)
|
442
|
|
Population Growth Rate (%) (2025)
|
1.7
|
Imports (goods and services-billion USD -2023)
|
433
|
|
GDP Per Capita (USD)
|
64,820
|
Current Account Balance (billion USD –
as of 2024 endyear)
|
-21.7
|
Reference: World Bank, IMF, Australian Bureau of Statistics
Main Trade Partners: China, Japan, USA, South Korea, UK,
India, Singapore
Main Export Products: The majority of Türkiye's exports to
Australia in 2025 consisted of vehicles and vehicle spare parts, boilers,
machinery and mechanical equipment, fruits including hazelnuts, construction
materials, iron, steel, and aluminum construction products.
Main Import Products: The majority of Türkiye's imports from
Australia in 2025 consisted of mineral fuels, mineral oils and products
derived from their distillation, fruits including hazelnuts, cotton,
boilers, machinery and mechanical equipment, and optical instruments and
devices.
Bilateral Economic and Commercial Relations between Türkiye and Australia:
|
YEARS
|
EXPORT
|
IMPORT
|
VOLUME
|
BALANCE
|
|
2022
|
965.659
|
1.639.551
|
2.605.210
|
-673.892
|
|
2023
|
944.264
|
1.168.778
|
2,113,042
|
-224.514
|
|
2024
|
1.085.671
|
1.142.202
|
2.227.873
|
-56.531
|
|
2025
|
943.034
|
592.379
|
1.535.413
|
350.655
|
Reference: TÜİK (thousand (000) USD)
Main Export Items of Türkiye: Iron and
steel products, dried fruits, construction supplies
Main Import Items of Türkiye: Coal,
cotton, vegetables, fruits, mineralsThe Joint Economic Commission’s last
meeting between Türkiye and Australia was held on 23 February 2009 in
Canberra.
On the occasion of the “Australia-Türkiye Round Table Meeting”, which was
held on 21 February 2014 by Australia Industry Group (AIG) and Foreign
Economic Relations Board of Türkiye (DEİK), a Memorandum of Understanding
was signed between AIG, TOBB and DEİK in order to establish a Business
Council.
According to the data of the Ministry of Industry and Technology of the
Republic of Türkiye, the total foreign direct investment (FDI) of Australia
in Türkiye is 716 million USD and there are 264 Australian-owned companied
operating in our country. Türkiye’s FDI in Australia was recorded as 27
million AUD (around 19.5 million USD) according to the data from the
Department of Foreign Affairs and Trade of Australia.
Turkish citizens resident in Australia, majority of whom have dual
citizenship, have investments in various areas such as food, construction,
textile, communication technology, wholesale and retail sale, dyeing,
communication services, restaurants, auto mechanic and taxi driving. The
number of such small and medium sized Turkish enterprises in Australia is
approximately 4.000.
Turkish Airlines started its flights from Istanbul to Melbourne on 1 March
2024 and from Istanbul to Sydney on 28 November 2024.
Number of tourists arriving from Australia to Türkiye: 219.000 (2025),
205,874 (2024), 192,770 (2023), 118,847 (2022), 15,674 (2021), 15,109
(2020), 120,000 (2019), 92,000 (2018).
Number of tourists departing from Türkiye to Australia: 13,620 (2024,
estimate), 10,030 (2023), 7,530 (2023), 8,720 (2022), 290 (2021), 3,620
(2020), 10,740 (2019).