A new Deloitte report has found the mining and mining equipment, technology and services (METS) sector has accounted for 15 per cent of Australia’s gross domestic product (GDP), highlighting its significant contribution to Australia’s economy.
The report, which was commissioned by the Minerals Council of Australia, found the mining and METS sector contributed $236.8 billion in 2015-16. Both sectors support 1.1 million jobs nationwide – around 10 per cent of overall employment. Although the sector makes a major contribution nationwide, there are particular regions where this is more significant, particularly in Western Australia.
The mining and METS sector accounted for a $37.8 billion economic contribution to WA’s Pilbara region – 88 per cent of total regional economic activity. It also accounted for nearly 94,000 jobs both directly and indirectly in the area.
This is followed by Queensland’s Bowen and Surat region, where the sectors made a $18.6 billion economic contribution (63 per cent of the region’s economic activity) and supported 99,700 jobs.
The sector also made a significant contribution to New South Wales’ Hunter region, accounting for $15.2 billion (34 per cent of total regional economic activity) and supporting 93,600 jobs.
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