|July 11, 2002|
Embargoed: 11:30 AM (AEST)
Resources industry contributes almost $13 billion a year to WA economy
Over the five years to 1999-2000, the Western Australian resources industry contributed $12.8 billion (b) a year to the State's Gross Product, according to figures released by the Australian Bureau of Statistics (ABS) today.
A comprehensive statistical picture of the State's resources industry is featured in a special article in Western Australian Statistical Indicators. The statistics cover downstream mineral processing and electricity generation as well as traditional mineral extraction activities.
Other highlights from the article include:
- Annual turnover in the resources industry averaged $22.5b over the five years to 1999-2000, with downstream mineral processing and electricity production activities representing an annual average of 28%.
- The resources industry employed an annual average 5% of the State's workforce, ranking 9th in the top ten employing industries.
- The average annual wages and salaries paid to resource industry employees was $64,900. Coal mining and oil and gas extraction employees received significantly higher wages and salaries, averaging $101,600.
- In 1998-99, the resources industry accounted for more than half (59%) of State investment, majority-foreign-owned businesses accounting for just over one-third (34%) of this. In comparison, in the following year the industry contribution to State investment dropped to 48%, with majority-foreign-owned businesses accounting for 41% of this.
- Expenditure on mineral exploration was $415 million (m) in 1999-2000 (accounting for 61% of national expenditure), after peaking in 1996-97 at $692m.
- Petroleum exploration expenditure accounted for 61% of national petroleum exploration expenditure in 1999-2000 and was $444m. In 2000-01, expenditure jumped 55% to $688m, the highest level recorded (State data first available in 1994-95).
- The value of mineral and petroleum production in 1999-2000 was $21.3 b after averaging $16.6 b over the previous four years. In 2000-01, the value increased to $27.6 b, buoyed by higher commodity prices (particularly for crude oil and iron ore), gains from the depreciated Australian dollar and increased production capacity, particularly alumina and nickel.
- The value of merchandise exports originating from the resources industry accounted for almost three-quarters (72% - annual average) of total State exports and 14% (annual average) of total Australian merchandise exports over the five years to 1999-2000.
Details are in Western Australian Statistical Indicators, June Quarter 2002 (cat. no. 1367.5).
- In 2000-01, value of exports originating from the resources industry increased over the previous year by 27% to $23.7b. This was driven by commodities originating from the oil and gas extraction industries, up 38% to $7.8b, and metal ore mining industries (mainly iron ore and concentrates), up 31% to $5.8b.