In 2006-07, the industry with the largest share of GDP (at basic prices excluding ownership of dwellings) was Property & business services with a share of 14.5%. Manufacturing was the second largest industry with a share of 12.2%. Prior to 1999-00 Manufacturing was the largest industry.
Industry share of GDP,
1993-94 and 2006-07
The current global 'mining boom' has created a great deal of interest in the Australian Mining industry. The profits (Gross operating surplus and Gross mixed income) of the Mining industry increased by 124% between 2002-03 and 2006-07 (see table 57 for more details). Over the same period the investment undertaken by Mining increased by 140% (see table 90 for more details). However, over the same period the Mining gross value added in volume terms increased by only 10%.
The significant increases in profits are being driven by growth in the prices of Mining commodities. See Prices for more information on commodities prices. The increase in the volume of Mining output over this period has occurred mainly during 2006-07. The growth in 2006-07 was driven by growth in the annual production of natural gas (up 11.3%) while oil production increased 14.2%. The volume of output of most other commodities remained steady or increased marginally over the same period. See Table 84 for more details.