Economy of Queensland

Economy of Queensland
CurrencyAustralian Dollar (A$ or AUD)
1 July – 30 June
Statistics
GDPA$288.3 billion (2012-13) [1]
GDP growth
3.5% (2012-13)
2.5% (2013) [1]
Labour force
2,313,800 (2010-11) [2]
Labour force by occupation
Retail trade (11.7%),
Construction (11%),
Health care & social assistance (10.1%),
Manufacturing (8.5%),
Education & training (7.6%) [3]
Unemployment6.2% (2018) [4]
Main industries
Mining, tourism, agriculture, financial services
External
ExportsA$49.2 billion (2010-11) [2]
Export goods
Coal, beef, aluminium, copper, copper ores & concentrates, fertilizers, animal feed, zinc ores & concentrates, lead ores & concentrates, lead [5]
Main export partners
 Japan (29.5%),
 India (11.8%),
 South Korea (11.3%),
 China (9.3%),
 Taiwan (5.8%) [5]
ImportsA$41.7 billion (2008-2009) [5]
Import goods
Crude petroleum, passenger motor vehicles, refined petroleum, gold, goods vehicles, civil engineering equipment & parts, rubber tyres, treads & tubes, aircraft, spacecraft & parts, furniture, mattresses & cushions, mechanical handling equipment & parts [5]
Main import partners
 China (11.9%),
 United States (11.1%),
 Japan (10.2%),
 Papua New Guinea (7.2%),
 Malaysia (5.7%) [5]
Public finances
All values, unless otherwise stated, are in US dollars.

The economy of Queensland is the third largest economy within Australia. Queensland generated 19.5% of Australia's gross domestic product in the 2008-09 financial year.[5] The economy is primarily built upon mining, agriculture, tourism and financial services. Queensland's main exports are coal, metals, meat and sugar.[6]

Western Australia and Queensland are often referred to as the "resource states" because their economies are currently dependent on exports of resources such as coal, iron ore and natural gas. However, of the two states, Queensland has a more diversified base.[7] In 2006, exports from Queensland totaled A$49.4 billion.[6] By 2009 this figure had grown to A$65.5 billion.

Brisbane is categorised as a global city, and is among Asia-Pacific cities with largest GDPs. It has strengths in mining, banking, insurance, transportation, information technology, real estate and food.[8] Some of the largest companies headquartered in Brisbane, all among Australia's largest, include Suncorp Group, Virgin Australia, Aurizon, Bank of Queensland, Flight Centre, CUA, Sunsuper, QSuper, Domino's Pizza Enterprises, Star Entertainment Group, ALS, TechnologyOne, NEXTDC, Super Retail Group, New Hope Coal, Jumbo Interactive, National Storage, Collins Foods and Boeing Australia.[9]

In 2018, there were 134,312 international students enrolled in the state, largely focused on Brisbane. Most of the state's international students are from Asia.[10]

  1. ^ a b "Queensland's pro-business economy". The State of Queensland. 25 October 2013. Retrieved 15 July 2015.
  2. ^ a b Cite error: The named reference aer1011 was invoked but never defined (see the help page).
  3. ^ "2008–09 Annual Economic Report on the Queensland economy" (PDF). Queensland Treasury. Retrieved 9 January 2010.[permanent dead link]
  4. ^ Birkbeck, Tom (15 November 2018). "Queensland's unemployment rate now the highest in Australia". Queensland Business News. Retrieved 17 May 2020.
  5. ^ a b c d e f "Queensland" (PDF). Department of Foreign Affairs and Trade. Commonwealth of Australia. November 2009. Archived from the original (PDF) on 17 November 2009. Retrieved 10 January 2010.
  6. ^ a b Jimmy Louca. "Queensland Economy: Current performance and outlook" (PDF). Queensland Treasury. Archived from the original (PDF) on 13 October 2009. Retrieved 9 January 2010.
  7. ^ Andrew Main (31 January 2011). "Gap in economy waits to be filled". The Australian. News Limited. Retrieved 24 June 2011.
  8. ^ "Brisbane business visitor numbers skyrocket". Brisbane Marketing Convention Bureau. e-Travel Blackboard. 3 January 2008. Archived from the original on 20 January 2011. Retrieved 13 January 2008.
  9. ^ "Brisbane Top Companies". Business News Australia. 11 October 2019. Retrieved 19 April 2020.
  10. ^ "International students studying in regional areas" (PDF). February 2019.