Aquatic ecosystems provide ecosystem services that benefit the environment and communities, including food provision, extreme events protection and cultural values. However, anthropogenic pressures have degraded these habitats with widespread loss of biodiversity. In Australia, habitat losses occurred over the past centuries due to urbanisation, industrial development and climate change. To help address ongoing ecosystems impacts, recent research has focused on quantifying monetary values for ecosystem services to inform policies. This paper synthesises current knowledge on the ecosystem services of five ecosystems in Australia - mangroves, saltmarsh, seagrass, kelp and shellfish. The economic valuations of these ecosystems have been concentrated in QLD, NSW, VIC and SA, with limited research in other states. More than 70% of Australian studies have focused on provisioning (commercial fishing) and cultural services (recreational fishing). The economic valuation of these services ranked below the 50th percentile for some ecosystems, compared to global ecosystem valuations. This lower ranking can be attributed to limited Australian research on traditional uses such as subsistence food for provisioning services, or bequest values for cultural services. Differences in ecosystem service recognition and economic valuations between Australia and the global context highlight the need for further research to ensure a comprehensive assessment across Australia.