Western Australia is the main minerals and petroleum exporting State of Australia and its economy benefits from proximity to the growing markets of Asia. Western Australia has had strong business investment growth during the past decade in response to rising commodity prices and demand from China, Japan and other Asian countries. More recently, the economy has entered a new stage of development.
While merchandise export values have fallen due to falling commodity prices, volumes are continuing to grow, as production increases from the new capacity created by the investments of the past few years. This trend is likely to continue in the near term, with merchandise export volumes offsetting falling business investment.
However, the Western Australian economy is in transition to a period of lower growth. As this transition unfolds, it is likely that economic activity will broaden into other sectors of the economy. The Department of State Development publishes a monthly report that includes statistical information on the Western Australian economy.
The monthly Western Australian Economic Profile details the latest trends in the State's:
- gross state product;
- industry sectors;
- population growth;
- labour market;
- business investment;
- major resource projects;
- commodity prices, production, sales and reserves;
- international trade in goods and services; and
- regional minerals and petroleum sales, agricultural production, population and labour markets.
You can download the full report from here: