Country Idealist Profiles

New South Wales – Economy

Posted in Australia, New South Wales - NSW (Australia), NSW (Australia) Basics by belenu on July 18, 2008

The bases of the State’s economy are agricultural and pastoral industries, a broadly based manufacturing sector, ample stocks of coal and highly developed service industries.

New South Wales’s rich agriculture and mining sectors form the mainstay of its export-earning ability, accounting for almost 50 per cent of export income. The State’s resource-based industries are coal, metallic and industrial minerals, minerals processing, chemicals, pulp and paper, processed food and agricultural products.

New South Wales generates more than 35 per cent of Australia’s goods and services and sends more than 60 per cent of its exports to Asia – a larger amount than any other Australian State. It attracts more than a third of all foreign investment into the country. http://members.ozemail.com.au/~enigman/australia/nsw.html 

Overseas trade

New South Wales is Australia’s largest trading State. In 1992-93, imports were worth $26.4 billion and exports $13.2 billion. The main imports were office machines and automatic data processing equipment, road vehicles, petroleum and petroleum products, telecommunication and sound recording equipment, and electrical machinery and appliances. The main exports were coal and coke, cereals and cereal preparations, textile fibres, petroleum and petroleum products, and iron and steel. Major export markets were Japan, New Zealand, the United States and the Republic of Korea.

Labour market

Working Age Population (15-64) : 4,639,500  Employment Rate (15-64) : 71.7%                         Unemployment Rate : 4.7%   Participation Rate : 63.7%

Technology and informatics are the main areas in which people develop professionally.

http://www.workplace.gov.au/lmip/LabourForceData/NSW?cid=EmploymentByLFR%7CState%7CNSW%7CLFR%7Canon%7CLabour%20Market

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