Australia and United States Economies: A Side-by-Side Table Comparison

In comparing Australia and the United States, the differences are striking. The U.S. population is about 13 times larger, while its land area is slightly bigger. Economically, Australia’s GDP is a fraction of the U.S., with lower income per person. The U.S. leads in military spending, and Australia imports a smaller share of goods.

Basic Indicators

Indicator	Australia	United States	Comparison
Population source (2022 data), updated 2024	26.01 million (54th)	333.29 million (3rd)	The population of the United States is approximately 12.8 times larger than that of Australia.
Surface area (sq. km) source (2022 data), updated 2024	7.74 million sq. km (6th)	9.83 million sq. km (3rd)	The United States is 1.27 times larger than Australia.
GDP source (2022 data), updated 2024	1,692.96B USD (12th)	25,439.70B USD (1st)	Australia’s total GDP is approximately 0.067 times that of the United States.
GDP per capita source (2022 data), updated 2024	$65,100 (13th)	76,330 USD (10th)	Australia’s GDP per capita is roughly 14.7% lower than the United States’, with Australians producing about $11,229 less per person annually.

Economic Indexes

Index	Australia	United States	Comparison
HDI (Human Development Index) source (2022 data), updated 2024	0.946 (10th)	0.927 (20th)	Australia’s HDI is 0.946 (very high), while the United States’ is 0.927 (very high). Australia’s score is 0.019 higher, indicating a slightly better level of human development overall.
Index of Economic Freedom source (2024 data)	76.2 (12th)	70.1 (24th)	Australia’s Index of Economic Freedom is 8.7% higher than the United States’, 6.1 points more.
GINI source (2022 data), updated 2024	34.3 (2018 est.)	39.8 (2021 est.)	With a 15.5% higher Gini coefficient, the United States has a higher degree of income inequality than Australia.

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

Indicator	Australia	United States
Total imports	363.57B USD	3.83T
Imports % of GDP	19.71%	15.59%
Main import partners	China 28%, US 10%, South Korea 6%, Japan 6%, Singapore 5%	China 18%, Canada 14%, Mexico 14%, Germany 5%, Japan 4%
Main import items	refined petroleum, cars, garments, trucks, plastic products	crude petroleum, cars, broadcasting equipment, garments, computers
Total exports	447.51B USD	3.05T
Exports % of GDP	25.43%	11.77%
Main export Partners	China 29%, Japan 19%, South Korea 10%, India 7%, Taiwan 6%	Canada 16%, Mexico 15%, China 8%, Japan 4%, UK 4%
Main export items	coal, iron ore, natural gas, gold, wheat	refined petroleum, crude petroleum, natural gas, cars, integrated circuits

Australia’s imports are about 9.5% of the U.S. total, and Australia imports 4.12% more of its GDP than the U.S. does. Australia’s exports are just 15% of the U.S., focusing on raw materials, while the U.S. exports more advanced products.

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

Indicator	Australia	United States
Military expenditure	32.3B USD	916.0B USD
Military expenditure (% of GDP)	1.90%	3.45%
Active military	59k	1.3M
Active military per 1,000 capita	3.8	6.3

The United States boasts a military budget that is over 28 times larger than Australia’s at $916 billion compared to $32.3 billion, and it allocates a significantly higher percentage of its GDP to defense at 3.45% versus Australia’s 1.90%.