Australia and Italy Economies: A Side-by-Side Table Comparison

In comparing Australia and Italy, Australia covers an area 25.8 times larger, while Italy’s population is over twice that of Australia. Italy’s economy is slightly larger, but Australians enjoy a much higher income per person. Australia also shows greater economic freedom and lower income inequality, alongside a leaner import strategy.

Basic Indicators

Indicator	Australia	Italy	Comparison
Population source (2022 data), updated 2024	26.01 million (54th)	58.94 million (24th)	Italy’s population is approximately 2.27 times larger than Australia’s.
Surface area (sq. km) source (2022 data), updated 2024	7.74 million sq. km (6th)	0.30 million sq. km (70th)	Australia is 25.8 times larger than Italy.
GDP source (2022 data), updated 2024	1,692.96B USD (12th)	2,049.74B USD (10th)	Italy’s total GDP is 1.21 times larger than Australia’s.
GDP per capita source (2022 data), updated 2024	$65,100 (13th)	34,776 USD (31st)	Australia’s GDP per capita is roughly 87% higher than Italy’s, with Australians producing about $30,323 more per person annually.

Economic Indexes

Index	Australia	Italy	Comparison
HDI (Human Development Index) source (2022 data), updated 2024	0.946 (10th)	0.906 (30th)	Australia’s HDI is 0.946 (very high), while Italy’s is 0.906 (very high). Australia’s score is 0.040 higher, indicating a slightly better level of human development overall.
Index of Economic Freedom source (2024 data)	76.2 (12th)	60.1 (72nd)	Australia’s Index of Economic Freedom is 26.1% higher than Italy’s, 16.1 points more.
GINI source (2022 data), updated 2024	34.3 (2018 est.)	35.2 (2020 est.)	With a 2.6% higher Gini coefficient, Italy has a higher degree of income inequality than Australia.

International trade _{source(2023 data), updated 2024}

Indicator	Australia	Italy
Total imports	363.57B USD	756.15B
Imports % of GDP	19.71%	38.15%
Main import partners	China 28%, US 10%, South Korea 6%, Japan 6%, Singapore 5%	Germany 14%, France 8%, China 8%, Netherlands 5%, Spain 5%
Main import items	refined petroleum, cars, garments, trucks, plastic products	natural gas, crude petroleum, cars, packaged medicine, garments
Total exports	447.51B USD	793.59B
Exports % of GDP	25.43%	36.63%
Main export Partners	China 29%, Japan 19%, South Korea 10%, India 7%, Taiwan 6%	Germany 12%, US 11%, France 10%, Spain 5%, UK 4%
Main export items	coal, iron ore, natural gas, gold, wheat	packaged medicine, refined petroleum, garments, cars, vehicle parts/accessories

Australia’s imports are about half of Italy’s, and Australia spends 19% less of its GDP on imports compared to Italy’s 38%. Australia’s exports are 447.51B USD, focusing on raw materials, while Italy’s 793.59B USD exports are more advanced, like cars and medicine.

Military Power _{source (2023 data), updated 2024}

Indicator	Australia	Italy
Military expenditure	32.3B USD	35.5B USD
Military expenditure (% of GDP)	1.90%	1.68%
Active military	59k	166k
Active military per 1,000 capita	3.8	5.8

Australia’s military expenditure is approximately 9% lower in absolute terms but dedicates a larger portion of its economy to defense compared to Italy, with 1.90% of GDP versus Italy’s 1.68%.