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About Sydney and NSW > Economic and Business Climate

Industry Structure

Services comprise more than 80% of New South Wales' industry output, highlighting the strength of the State's knowledge-based business services, ICT and creative industries.

New South Wales contributes the largest State share of national output in both services (35%) and manufacturing (32%). The State dominates the nation's property and business services and finance and insurance industries, as well as the tourism-related accommodation, cafes and restaurants, and cultural and recreational services industries. Sydney is the nation's finance and business capital, leading the other states in computer, legal, accounting, marketing and business management services, and finance and insurance industries.

Property and business services made the largest single industry contribution to New South Wales' industry output in 2006-07, with a 15% share, while finance and insurance accounted for a further 10%. Combined, these two industries have increased their contribution to the State's economy by five percentage points over the last decade. In 2006-07, the strongest growth occurred in New South Wales' communication services, followed by the cultural and recreational, transport and storage and property and business services industries.


Industry Structure (1) - New South Wales and Australia, 2006-07

Sector/industry (2) NSW (A$ million) % share of NSW Total Australia (A$ million) % share of Aust. total NSW as % of Australia
Primary: 12,953 3.9 97,154 9.3 13.3
Agriculture, forestry and fishing 4,789 1.4 22,346 2.1 21.4
Mining 8,164 2.4 74,808 7.1 10.9
Manufacturing 34,368 10.3 107,497 10.3 32.0
Services (3): 233,686 69.7 675,618 64.6 34.6
Property and business services 49,776 14.9 127,180 12.2 39.1
Finance and insurance 33,379 10.0 75,542 7.2 44.2
Construction 22,454 6.7 71,274 6.8 31.5
Health and community services 19,627 5.9 61,124 5.8 32.1
Retail trade 18,101 5.4 57,313 5.5 31.6
Wholesale trade 16,887 5.0 47,800 4.6 35.3
Education 14,128 4.2 44,032 4.2 32.1
Transport and storage 14,252 4.3 49,942 4.8 28.5
Government administration and defence 11,795 3.5 40,638 3.9 29.0
Communication services 8,185 2.4 24,389 2.3 33.6
Accommodation, cafes and restaurants 7,732 2.3 20,990 2.0 36.8
Electricity, gas and water 6,292 1.9 22,244 2.1 28.3
Personal and other services 5,801 1.7 18,461 1.8 31.4
Cultural and recreational services 5,277 1.6 14,689 1.4 35.9
Sub-total 281,007 83.8 880,269 84.1 31.9
Ownership of dwellings 29,422 8.8 81,611 7.8 36.1
Gross value added at basic prices 310,430 92.6 961,880 91.9 32.3
Gross State Product 335,144 100.0 1,046,365 100.0 32.0






Footnotes:
1: Measured as industry gross value added at current prices, which represents the value of output at basic prices (excluding taxes and subsidies) less the value of intermediate consumption at purchasers' prices.
2: Industries classified according to the Australian and New Zealand Standard Industrial Classification (ANZSIC), 1993.
3: The Australian Bureau of Statistics classifies the construction and electricity, gas and water industries as 'goods producing' industries and not services, however, both include substantial service components.

Source: ABS Cat. No. 5220.0, State Accounts, 2006-07.