Australia's expense (current LCU) was 644.6 billion in 2022, the latest year in the World Bank's World Development Indicators. That is up 64.45% from 391.98 billion in 2012 (5.1% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 644.6 billion | 2022 |
| Five years earlier | 468.13 billion | 2017 |
| Ten years earlier | 391.98 billion | 2012 |
| Highest | 680.67 billion | 2021 |
| Lowest | 8.05 billion | 1972 |
| Average since 2013 | 508.57 billion | 2013–2022 |
| First recorded | 8.05 billion |
What the numbers say
In 2022, Australia's expense (current LCU) fell 5.3% on 2021 (from 680.67 billion to 644.6 billion).
Across the 30 yearly changes before that (1992 to 2021), the average change was +6.9% and a typical year strayed about 5.4% from that (the standard deviation). This year's change was 2.3 standard deviations below that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was 38.4% in 1975 and the biggest yearly fall was 5.3% in 2022. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2013 to 2022 the straight-line trend is upward, about 30.74 billion a year. A straight line explains 89% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
A straight-line projection, tested first
Extending that straight line gives about 714.84 billion for 2025. We show this only because the same method, fitted on earlier years, predicted 2020 to 2022 better than "no change" would have: its average miss was 104.43 billion, against 131.87 billion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
How it compares
In 2022, Australia had the 13th highest value of the 25 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Australia in the 2022 ranking
- Sweden — 10th of 25: 1.89 trillion
- Germany — 11th of 25: 1.24 trillion
- Equatorial Guinea — 12th of 25: 943.03 billion
- Romania — 14th of 25: 516.5 billion
- Mozambique — 15th of 25: 313.54 billion
- Belgium — 16th of 25: 223.05 billion
What this measures
Expense is a decrease in net worth resulting from a transaction. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).
All 51 values
| Year | Expense (current LCU) |
|---|---|
| 2022 | 644,595,000,000 |
| 2021 | 680,666,000,000 |
| 2020 | 599,556,000,000 |
| 2019 | 509,740,000,000 |
| 2018 | 483,157,000,000 |
| 2017 | 468,131,000,000 |
| 2016 | 447,373,000,000 |
| 2015 | 434,695,000,000 |
| 2014 | 419,947,000,000 |
| 2013 | 397,847,000,000 |
| 2012 |
Expense (current LCU) in nearby economies
- Cambodia — 22.54 trillion (2023)
- Fiji — 3.42 billion (2023)
- Japan — 117.32 trillion (2022)
- Kiribati — 367.36 million (2023)
- Korea, Rep. — 682.2 trillion (2023)
- Lao PDR — 22.4 trillion (2022)
- Macao SAR, China — 72.06 billion (2023)
- Malaysia — 310.25 billion (2023)
- Marshall Islands — 143.73 million (2020)
- Micronesia, Fed. Sts. — 87.36 million (2020)
- Mongolia — 13.81 trillion (2021)
- Myanmar
More public sector data for Australia
- Arms imports (SIPRI trend indicator values) — 826 million (2025)
- Military expenditure (current USD) — 35.33 billion (2025)
- Military expenditure (current LCU) — 54.81 billion (2025)
- Military expenditure (% of GDP) — 1.92% (2025)
- Arms exports (SIPRI trend indicator values) — 108 million (2025)
- Net investment in nonfinancial assets (current LCU) — 19.74 billion (2022)
- Net investment in nonfinancial assets (% of GDP) — 0.84% (2022)
- Net lending (+) / net borrowing (-) (current LCU) — -31.49 billion (2022)
- Net lending (+) / net borrowing (-) (% of GDP) — -1.35% (2022)
Reading data like this
Questions people ask
- What is Australia's expense (current LCU)?
- 644.6 billion in 2022, according to the World Bank (World Development Indicators).
- How has it changed since 1972?
- It is up 7,912% from 8.05 billion in 1972 (9.16% a year on average, compounded). The highest value was 680.67 billion in 2021 and the lowest 8.05 billion in 1972.
- How does Australia rank?
- 13th highest of 25 economies with data for 2022.
Source
World Bank, World Development Indicators, indicator GC.XPN.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.
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