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INDUSTRY PROFILES

Industry Strengths


  • The NSW finance, insurance, property and business services markets had a total industry income of A$87.45 billion in 2007-8
  • The NSW information and communications technology (ICT) industry employs more than 120,000 people and generated sales of goods and services worth A$52 billion in 2006-07
  • Manufacturing contributed A$35 billion to the NSW economy in 2007-8
  • NSW exported more than A$16 billion worth of minerals and metals in 2008-9 (preliminary figures)
  • The NSW wine industry turns over more than A$1.5 billion annually, employs 6,000 people and exported A$504 million of product in 2007-08.
NSW's A$360 billion economy is the largest and most diverse in Australia, with the total value of goods and services produced in the State higher than for many national economies in the Asia Pacific.

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

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.

NSW also has the largest retail, transport and storage, construction and communication 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 skills.

Demonstrating its economic diversity, NSW contributes the largest state share of national output not only in services (34%) but also in manufacturing (32%). NSW has particular strengths in food and beverage manufacturing, metal manufacturing, electrical and electronic equipment manufacturing, and publishing and printing.

Property and business services made the largest single industry contribution to NSW industry output in 2007-08, with a 14% share, while finance and insurance accounted for a further 10%. Combined, these two industries have increased their contribution to the State’s economy by four percentage points over the last decade.

In 2007-08, the strongest growth in percentage terms occurred in NSW’s transport and storage, construction, communication services, and finance and insurance industries.

For more information

Industry Development and Investment Division | +61 2 9338 6665 | industry@business.nsw.gov.au