The OECD expects global GDP to increase by 4.2% in 2021 after a fall of 4.2% in 2020. In Australia, the numbers are slightly less dramatic with an expected contraction over 2020 to be 3.8%, projected growth of 3.2% in 2021 and 3.2% again in 2022. But the recovery in Australia has and will be uneven, as differing sectors of the economy experience varying impacts from COVID-19.
The Uneven Recovery in Australia
International boarder restrictions have stifled recovery in education and tourism exports throughout Australia. Non-services exports such as commodities have not been affected to the same degree.