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Services Sector Contribution to GDP in Australia (1990-2022)

Services Sector Contribution to GDP in Australia (1990-2022)

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TGM StatBox. (2024). Services Sector Contribution to GDP in Australia (1990-2022). TGM StatBox.
Chart Details
Data Source: World Development Indicators.
Timeframe: 1990-2022
Country: Australia
Published date: 2024
Note: Services (% of GDP), according to World Development Indicators, measures the contribution of the services sector (such as retail, finance, healthcare, and tourism) to a country's GDP.
Key Takeaways
From 1990 to 2022, Australia's services sector contribution to GDP consistently rose, reaching a peak of 68.1% in 2016, before a decline to 63.3% by 2022. This steady growth was driven by advances in finance, real estate, and professional services, sectors that benefitted from urbanization and digital infrastructure growth. The recent decline could be attributed to global economic fluctuations, potentially affecting high-dependency sectors like tourism and retail.

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