Market research company and business information provider IBISWorld recently released its findings on Australia’s leading export industries for 2010 and their outlook for the next five years.
A forecast of $237 billion of combined export revenue for 2010 (representing 21.4 percent of the Australian economy) puts Australia in the top echelon of global exporters, with only Germany (40.8 percent) and China (33.2 percent) recording higher export proportions of their total economic revenue.
As expected, mining constitutes Australia’s largest export industry, generating $283.7 billion of revenue for 2009/2010 — of which $128 billion was from exports. The industry is forecast to grow by 6.1 percent in the next five years.
Manufacturing also fared well in 2009/2010, achieving $29 billion of export value from a total industry revenue of $246.9 billion.
Higher education is another top export earner for the Australian economy, regularly drawing in around $8.1 billion of revenue. While the industry has enjoyed consistent growth of 10.7 percent in the five year period 2004 to 2009, it is forecast that growth will drop to 6.7 percent for the next five years as a result of the regulation of private colleges in the VET industry, concerns about the safety of Indian students and the high value of the Australian Dollar.
IBISWorld’s table of results is as follows:
| Industry | Industry Revenue | Value of Exports | 5 Year Export Growth | |||
| 2009-10 | 2014-15 | 2009-10 | 2014-15 | 2005-10 | 2010-15 | |
| Agriculture | $68.5 | $74.4 | $18.1 | $21.4 | 1.7% | 3.4% |
| Mining/Resources | $283.7 | $322.8 | $128.0 | $172.0 | 2.6% | 6.1% |
| Manufacturing | $246.9 | $270.4 | $29.0 | $33.0 | 1.8% | 2.6% |
| Education | $77.2 | $92.9 | $8.1 | $11.1 | 3.8% | 6.7% |
| Tourism | $79.2 | $85.8 | $23.9 | $23.4 | 1.6% | 4.2% |
| Other | $356.5 | $478.8 | $30.8 | $59.3 | 6.1% | 14% |
| GDP | $1,112.0 | $1325.0 | $237.9 | $326.2 | 3.6% | 6.5% |
* All figures are in $ billion
If this subject interests you, register for Anthill’s Global Growth by Design evening seminar and networking event in Melbourne.
Use the promo code ANTHILL when prompted for a hefty discount. Only $45 per person.
