Australia's annual healthcare expenditure rises to 178 bln USD

Alsharq Tribune-AFP 

Australia's total expenditure on healthcare rose to over 10 percent of the country's gross domestic product (GDP) in 2023-24, according to a government report released on Wednesday.

The report from the Australian Institute of Health and Welfare (AIHW) said that Australia spent a total 270.5 billion Australian dollars (about 178.12 billion U.S. dollars) on health goods and services in 2023-24, an increase of 1.1 percent from 2022-23.

Healthcare spending accounted for 10.1 percent of Australia's GDP in 2023-24, up from 9.9 percent in the preceding year, but below the record-high of 10.7 percent set in 2020-21.

Overall government spending declined by 0.1 percent in 2023-24, the report said, while spending from non-government sources, including individuals and private health insurers, increased by 3.7 percent.