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The ‘Land of Wa’ - and the multi-billion dollar resource projects Lyne Thomas Former Assistant Director General Department of Industry and Resources, W.A.
 
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2. Western Australia at a Glance Key Facts and Figures (a) In real (chain volume) terms. (b) Trend. Source: Australian Bureau of Statistics (ABS) Population at end of June 2008 2,171,197 Gross State Product, 2007-08 (a) $146.4 billion Gross State Product Per Capita, 2007-08 (a) $68,837 Unemployment Rate, March 2009 (b) 4.3% CPI (all groups), Perth, March Qtr 2009 -0.1% Exports, 2007-08  $68.8 billion Imports, 2007-08  $27.4 billion Key Industries Mining, Property and Business Services, Manufacturing, Construction
5.1 Industry contribution to the Western Australian economy The mining industry is the main contributor to the Western Australian economy accounting for $42 billion or 28.6% of gross state product in 2007-08. Property and business services (10.9%), manufacturing (8.1%) and construction (7.6%) are also key industry contributors.
6.1 Mineral and Petroleum Production The value of Western Australia’s mineral and petroleum sector reached $58.6 billion in 2007-08 which was 9% higher than the previous financial year. The record result was due to strong overseas demand and high commodity prices. In 2007-08, the value of iron ore sales from Western Australia increased by 30% to $20.5 billion.
6.1 Mineral and Petroleum Production  continued Iron ore and petroleum are the largest sectors which together accounted for 68% ($39.9 billion) of the total value ($58.6 billion) of the State’s resources industry in 2007-08. In addition, total royalty receipts in 2007-08 amounted to $2.3 billion which was largely attributable to the iron ore (42%) and petroleum (35%) sectors.
7.1 Business Investment In 2007-08, total business investment in Western Australia reached $38 billion underpinned by new engineering construction ($15.2 billion) which has grown in recent years due to the mining boom.
7.2 Business Investment by Industry In 2007-08, business investment in the mining industry was estimated at $17.1 billion (up 27% from 2006-07) while investment in the manufacturing industry was $1.7 billion, up 10%.
7.3 Foreign Investment in Australia The leading investor countries at 31 December 2007 were: United States of America  $445.9 billion or 27% United Kingdom  $410.4 billion or 25% Japan  $57.5 billion or 3% New Zealand  $42.8 billion or 3% Hong Kong (SAR of China)  $41.7 billion or 3% China $6.2 billion or 0.4%  Note:  Due to the difficulties in obtaining state level foreign investment statistics, only Australian estimates are available. Whilst ABS foreign investment statistics lists Hong Kong and China separately, care needs to be taken when interpreting country data given that the country of residence of the ultimate beneficial owner/recipient is not identified.  Source: ABS Cat. 5352.0 The level of foreign investment in Australia increased by $201.8 billion to reach $1,659.6 billion at 31 December 2007. The leading investor countries were the United States of America ($445.9 or  27%) and the United Kingdom ($410.4 billion or 25%).
8.1 Western Australia’s International Trade In 2007-08, Western Australia’s merchandise exports were estimated at $68.8 billion and merchandise imports were estimated at $27.4 billion. The trade surplus for 2007-08 was $41.4 billion.
8.2 Australian merchandise exports by state and territory In 2007-08, Western Australia accounted for almost 40% of Australian merchandise exports, with the value of the State's exports the highest in the nation at $68.8 billion.
8.3 Top Ten Merchandise Exports In 2007-08, iron ore was Western Australia’s largest export item estimated at $20 billion  or 29.1% of total exports. Petroleum accounted for $9.2 billion or 13.3% of total Western Australian exports in 2007-08.
8.4 Top Ten Export Markets China and Japan remain Western Australia’s top trading partners taking $17.4 billion (25.3%) and $13 billion (19%) respectively of total exports in 2007-08.
8.5 Top Ten Merchandise Imports In 2007-08, non-monetary gold was the largest import item estimated at $6.7 billion (24.4%), followed by crude petroleum oils ($3.1 billion, 11.2%), non-crude petroleum oils ($2.0 billion, 7.4%), and passenger motor vehicles ($1.6 billion, 5.8%).
8.6 Top Ten Import Sources In 2007-08, Western Australia’s top import sources were Singapore ($3.5 billion, 12.8%), Japan ($3.0 billion, 10.9%), United Kingdom ($2.6 billion, 9.5%) and the United States of America ($2.3 billion, 8.5%).
9.2 Employment by Industry In February 2009, Western Australian industries employing the highest proportion of total workers included retail trade (12.6%), construction (10.5%), health care and social assistance (9.9%) and manufacturing (8.8%).
9.3 Wages Due to strong economic conditions in recent years, Western Australia has experienced strong wages growth. Western Australia’s wage price index increased by 5.7% over the year to December 2008 which was above national growth of 4.3% over the same period.
Issues for WA Govt -  as managers of the Community’s Assets ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Knowledge based industries/ economy – TIAC Report (2006) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
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The Land Of WA by Lyne Thomas

  • 1. The ‘Land of Wa’ - and the multi-billion dollar resource projects Lyne Thomas Former Assistant Director General Department of Industry and Resources, W.A.
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  • 12. 2. Western Australia at a Glance Key Facts and Figures (a) In real (chain volume) terms. (b) Trend. Source: Australian Bureau of Statistics (ABS) Population at end of June 2008 2,171,197 Gross State Product, 2007-08 (a) $146.4 billion Gross State Product Per Capita, 2007-08 (a) $68,837 Unemployment Rate, March 2009 (b) 4.3% CPI (all groups), Perth, March Qtr 2009 -0.1% Exports, 2007-08 $68.8 billion Imports, 2007-08 $27.4 billion Key Industries Mining, Property and Business Services, Manufacturing, Construction
  • 13. 5.1 Industry contribution to the Western Australian economy The mining industry is the main contributor to the Western Australian economy accounting for $42 billion or 28.6% of gross state product in 2007-08. Property and business services (10.9%), manufacturing (8.1%) and construction (7.6%) are also key industry contributors.
  • 14. 6.1 Mineral and Petroleum Production The value of Western Australia’s mineral and petroleum sector reached $58.6 billion in 2007-08 which was 9% higher than the previous financial year. The record result was due to strong overseas demand and high commodity prices. In 2007-08, the value of iron ore sales from Western Australia increased by 30% to $20.5 billion.
  • 15. 6.1 Mineral and Petroleum Production continued Iron ore and petroleum are the largest sectors which together accounted for 68% ($39.9 billion) of the total value ($58.6 billion) of the State’s resources industry in 2007-08. In addition, total royalty receipts in 2007-08 amounted to $2.3 billion which was largely attributable to the iron ore (42%) and petroleum (35%) sectors.
  • 16. 7.1 Business Investment In 2007-08, total business investment in Western Australia reached $38 billion underpinned by new engineering construction ($15.2 billion) which has grown in recent years due to the mining boom.
  • 17. 7.2 Business Investment by Industry In 2007-08, business investment in the mining industry was estimated at $17.1 billion (up 27% from 2006-07) while investment in the manufacturing industry was $1.7 billion, up 10%.
  • 18. 7.3 Foreign Investment in Australia The leading investor countries at 31 December 2007 were: United States of America $445.9 billion or 27% United Kingdom $410.4 billion or 25% Japan $57.5 billion or 3% New Zealand $42.8 billion or 3% Hong Kong (SAR of China) $41.7 billion or 3% China $6.2 billion or 0.4% Note: Due to the difficulties in obtaining state level foreign investment statistics, only Australian estimates are available. Whilst ABS foreign investment statistics lists Hong Kong and China separately, care needs to be taken when interpreting country data given that the country of residence of the ultimate beneficial owner/recipient is not identified. Source: ABS Cat. 5352.0 The level of foreign investment in Australia increased by $201.8 billion to reach $1,659.6 billion at 31 December 2007. The leading investor countries were the United States of America ($445.9 or 27%) and the United Kingdom ($410.4 billion or 25%).
  • 19. 8.1 Western Australia’s International Trade In 2007-08, Western Australia’s merchandise exports were estimated at $68.8 billion and merchandise imports were estimated at $27.4 billion. The trade surplus for 2007-08 was $41.4 billion.
  • 20. 8.2 Australian merchandise exports by state and territory In 2007-08, Western Australia accounted for almost 40% of Australian merchandise exports, with the value of the State's exports the highest in the nation at $68.8 billion.
  • 21. 8.3 Top Ten Merchandise Exports In 2007-08, iron ore was Western Australia’s largest export item estimated at $20 billion or 29.1% of total exports. Petroleum accounted for $9.2 billion or 13.3% of total Western Australian exports in 2007-08.
  • 22. 8.4 Top Ten Export Markets China and Japan remain Western Australia’s top trading partners taking $17.4 billion (25.3%) and $13 billion (19%) respectively of total exports in 2007-08.
  • 23. 8.5 Top Ten Merchandise Imports In 2007-08, non-monetary gold was the largest import item estimated at $6.7 billion (24.4%), followed by crude petroleum oils ($3.1 billion, 11.2%), non-crude petroleum oils ($2.0 billion, 7.4%), and passenger motor vehicles ($1.6 billion, 5.8%).
  • 24. 8.6 Top Ten Import Sources In 2007-08, Western Australia’s top import sources were Singapore ($3.5 billion, 12.8%), Japan ($3.0 billion, 10.9%), United Kingdom ($2.6 billion, 9.5%) and the United States of America ($2.3 billion, 8.5%).
  • 25. 9.2 Employment by Industry In February 2009, Western Australian industries employing the highest proportion of total workers included retail trade (12.6%), construction (10.5%), health care and social assistance (9.9%) and manufacturing (8.8%).
  • 26. 9.3 Wages Due to strong economic conditions in recent years, Western Australia has experienced strong wages growth. Western Australia’s wage price index increased by 5.7% over the year to December 2008 which was above national growth of 4.3% over the same period.
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