Australia

billion USD of

GDP

AAA

Fitch rating

Highest safety

$175,000

of per-bank

Deposit Guarantee

million of

Population

1.78%

percent of

Inflation

/ 190

index points of

Doing Business

Financial indicators

billion USD of

GDP

AAA

Fitch rating

Highest safety

$175,000

of per-bank

Deposit Guarantee

million of

Population

1.78%

percent of

Inflation

/ 190

index points of

Doing Business
Australia

Financial sector


Australia’s financial services sector is the largest contributor to the national economy, contributing around $140 billion to GDP over the last year. It has been a major driver of economic growth and, with 450,000 people employed here, will continue to be a core sector of Australia’s economy into the future. The four major banks are among the world’s largest banks by market capitalisation and all rank in the top 25 globally for safest banks. They are also some of the most profitable in the world. Australia has favourable economic fundamentals with annual economic growth currently double the rate of comparable commodity‑focussed economy Canada, higher than the average across G7 economies (France, Germany, Italy, Canada, UK, US, Japan) and above the OECD average. The World Economic Forum Financial Development Index of 2012 rated Australia as one of the world’s best performing financial centres, partly due to strength in financial intermediation and financial stability.

Deposit Guarantee Scheme is covered by The Australian Government's Financial Claims Scheme up to AUD 250,000 ($175,000) per depositor per bank. Learn more
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