The Economy
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Top 10 export markets

Western Australia economic structure

The state of the economy/ Towards 2000

As well as being accessible, Western Australia is a state of opportunity and innovation. Our current Gross State Product is $50.7 billion, thanks to the support of a variety of business sectors which are very strong and offer substantial opportunities.

 For instance:

  • Western Australia's internationally recognised oil and gas industry is the leading petroleum producer in Australia.
  • There are billions of dollars worth of resource and infrastructure projects currently under construction or being considered.
  • The state's thriving shipbuilding and marine industry provides 20 per cent of the world's new lightweight, high speed ferries.
  • Fishery, agricultural and forestry production is worth more than $4 billion each year, while 80 per cent of all primary produce is exported.

In the last 10 years, Western Australia has been the fastest growing state economy in Australia, achieving a five per cent average annually compared with the national average of 2.8 per cent.

We also:

  • attract 15 per cent of all new private capital investment in Australia
  • account for more than 30 per cent of Australian private investment projects currently committed or being considered. This investment should reach $45 billion over the next five years.

So there is ample opportunity for businesses wishing to invest in mining, marine engineering, agribusiness or the oil and gas industries.

The state is also gaining a reputation as headquarters for the Indian Ocean region and South East Asian activities of many international businesses.