An in-depth material flow analysis of Australia’s economy in 2019 is presented in this article, which looks at domestic extraction, trade, end-of-life flows, and recycling for all materials. The findings demonstrate Australia’s position as a major supplier of natural resources, with metals and fossil fuels making up the majority of contributions. According to material flow analysis, Australia harvested 2587 Mt of natural resources in 2019, exported a significant portion (1459 Mt), and used 917 Mt to meet local needs. With an overall circularity rate of 5.1% and an end-of-life recycling rate of 51.1%, the recycling flows and circularity metrics are also investigated. Moving and housing are the two main material-using industries in Australia, according to an updated analysis of the country’s consumption-based material footprint. These findings shed light on Australia’s material consumption patterns, which are heavily dependent on imported semifinished and finished goods. They also offer suggestions for improving economic circularity.