Australian Industry

Agriculture, forestry and fishing experienced increases in most key data items for 2022-23.

• Agriculture, forestry and fishing industry division earnings increased 7.2% ($1.9b), driven by an 8.9% ($11.0b) increase in Sales and service income.
• Division growth was driven by the Agriculture subdivision, which experienced a 5.7% ($1.3b) increase in earnings, amid high export volumes.
• Total expenses grew 8.4% ($9.1b), slower than the growth experienced in 2021-22 (10.4%, $10.2b). Increasing expenses were driven by higher input costs for farming products such as fertiliser and petrol. 
• The division experienced another year of Employment declines, with Employment decreasing by 5,000 people (-1.1%). This decrease was driven by the Agriculture subdivision, which saw a decline of 8,000 people (-2.3%).

Estimates for the Mining industry largely reflect calendar year reporting for 2022. For a limited range of estimates adjusted to a June financial year basis, see the 'Off-June adjusted estimates by subdivision' data cube in the Data Downloads.
The Mining industry division grew in all key data items for 2022-23.

• Mining earnings and IVA grew 23.4% ($52.0b) and 23.2% ($66.4b) respectively, driven by a 21.6% ($93.3b) increase in Sales and service income.
• Mining earnings growth was driven by the Coal mining and Oil and gas extraction subdivisions, up 54.9% ($26.1b) and 73.9% ($37.7b) respectively. Earnings growth was slightly offset by a 16.5% (-$19.9b) decline for the Metal ore mining subdivision. The growth of the Coal mining and Oil and gas extraction subdivisions, and the decline of the Metal ore mining subdivision were similarly represented in Merchandise Exports.
• The Export Price Index for Mining increased 11.0% between the 2021-22 and 2022-23 financial years, following an increase of 39.9% between the 2021 and 2022 calendar years. This price effect is reflected in the difference between the increase of 24.0% ($108.9b) in Mining Total income in the Australian industry, and Mining data cubes, which largely reflect calendar year growth for this industry, and the contrasting growth of 12.4% ($62.1b) for the financial year contained in the Off-June adjusted estimates data cube.
• Prices for key export commodities in metallurgical coal, thermal coal and LNG rose strongly over the calendar year period, reflecting price rises following global supply shocks resulting from the conflict in Ukraine in March Qtr 2022. This is in contrast to the performance over the June year end, which saw moderate price growth for LNG and thermal coal as supply chain issues began to ease and metallurgical prices fall due to global growth concerns in the latter half of 2022-23. 
• Mining industry Employment increased 8.8% (18,000 people), driven by growth of 7.7% (7,000 people) in the Metal ore mining subdivision and growth of 8.6% (4,000 people) in the Exploration and other mining support services subdivision.

For more detailed financial performance information on the Mining industry please refer to the 'Mining industry' data cube. 

The Manufacturing industry grew in most key data items for 2022-23.

• Manufacturing industry division earnings grew 2.2% ($1.1b), driven by a 9.9% ($45.6b) increase in Sales and service income. This was offset by an increase in Purchases of goods and materials of 8.4% ($23.1b) and an 10.5% ($7.9b) increase in Other intermediate input expenses.
• The Manufacturing industry's earnings was driven by the Machinery and equipment subdivision, which rose 18.8% ($1.1b) due to strong government investment in infrastructure, transport and defence, while increasing Merchandise Exports also contributed to growth.
• Primary metal and metal product manufacturing subdivision and Fabricated metal product manufacturing subdivision earnings declined 19.9% (-$1.4b) and 8.3% (-$409m) respectively, as the demand for metal production and metal products softened, notably aluminium and steel, in response to weakening global growth in 2022-23.
• Wages and salaries grew 9.0% ($5.8b), driven by strong growth in the Food product manufacturing subdivision (12.8%, $1.7b) and the Transport equipment manufacturing subdivision (19.8%, $1.1b).
• Employment grew 3.5% (31,000 people), driven by increases in the Transport equipment manufacturing subdivision (21.0%, 15,000 people).

Electricity, gas, water and waste services increases in most key data items for 2022-23.

• Electricity supply subdivision earnings increased 5.3% ($887m), while Gas supply subdivision earnings increased 37.8% ($728m). The Electricity and Gas industry faced higher input prices for coal and natural gas at the end of the previous financial year stemming from global energy shortages, negatively impacting the profitability of the Industry in 2021-22. To remain economically viable, these higher costs were priced into business and customer tariffs in 2022-23.
• IVA for the Electricity, gas, water and waste services industry increased by 6.9% ($3.3b), driven by an increase in Sales and service income of 11.3% ($16.5b), which was offset by a 15.6% ($10.0b) increase in Purchases of goods and materials and a 10.4% ($4.8b) increase in Other intermediate input expenses. 
• Employment within the Electricity, gas, water and waste services division increased 4.0% (5,000 people).

The Construction industry experienced growth across all key data items in 2022-23.

• Construction industry division earnings increased 11.6% ($6.1b), driven by an increase of 14.1% ($69.3b) in Sales and service income. The division continued its post-pandemic growth due to increased demand for civil and non-residential work, as well as increases in output prices. Higher cost of materials and labour were factored into new and existing contracts, resulting in higher output prices.
• Construction IVA experienced similar growth of 14.8% ($21.0b), driven by the 17.3% ($14.4b) growth within the Construction services subdivision, which predominately provides the trade services required to the building and civil construction projects.
• Purchases of goods and materials for the Construction industry increased 17.3% ($35.6b) as greater demand resulted in an increase in building material prices.
• Despite steep declines in both dwelling commencements and approvals in response to surging borrowing and construction costs, the volume of dwellings under construction remained high, resulting in an increase in the value of construction work done for the period. 
• Wages and Salaries within the Construction industry increased 12.7% ($9.8b), despite a 1.8% (22,000 people) increase in Employment, as shortages in skilled workers combined with increased demands led to upward wage pressures on businesses.

The Wholesale trade industry experienced growth across all key data items in 2022-23.

• Wholesale trade industry division earnings grew 21.9% ($7.9b), with strong earnings growth coming from the Basic material wholesaling subdivision (34.3%, $3.9b) and the Machinery and equipment wholesaling subdivision (25.7%, $2.6b).
• Basic materials wholesaling subdivision saw a 38.4% ($76.3b) increase in Sales and service income. Petroleum wholesalers continued to benefit from rises in petroleum prices and volumes, while Agricultural product wholesalers benefitted from record high grain crop production.
• Machinery and equipment wholesaling Sales and service income increased 12.3% ($19.5b), after recovering from supply chain disruptions related to COVID-19 restrictions.
• Employment for the Wholesale trade division increased 1.6% (10,000 people).

The Retail trade industry experienced growth across all key data items.

• Retail trade industry division earnings grew 16.2% ($6.8b), as retail turnover increased despite a fall in Retail sales volumes.
• Growth in earnings was driven by the Other store-based retailing subdivision, which reported an increase in earnings of 21.0% ($4.4b), due to many retailers benefitting from the surge back to physical stores and high level of demand for products.
• Retail trade division IVA increased 14.4% ($14.8b), with the largest growth seen in the Other store-based retailing subdivision (17.4%, $8.7b) and the Food retailing subdivision (11.8%, $3.4b).
• Food retailing subdivision Sales and service income increased 6.3% ($10.3b). The Motor vehicle and motor vehicle parts retailing subdivision also experienced growth in Sales and service income of 7.3% ($7.5b), as a result of increased demand and recovery from supply chain issues.
• Employment for the Retail trade division increased by 4.2% (60,000 people).

The Accommodation and food services industry division grew in all key data items.

• Accommodation and food services industry earnings increased 35.3% ($4.7b), with many businesses operating at full capacity following the easing of the final COVID-19 restrictions.
• Accommodation subdivision earnings increased 97.3% ($2.0b), as the number of international travellers returned to almost pre-pandemic levels. 
• IVA increased 31.3% ($14.4b), driven by an increase in Sales and service income of 22.2% ($25.6b) and offset by increases in Purchases of goods and materials (16.0%, $6.1b) and Other intermediate input expenses (15.9%, $5.1b).
• Employment increased by 13.6% (145,000 people), bolstered by the return of international students and workers.

The Transport, postal and warehousing industry division experienced growth in all key data items.

• The Transport, postal and warehousing industry division earnings increased 14.4% ($5.2b).
• Despite this, a decrease in earnings of 9.5% (-$1.1b) was recorded for the Road transport subdivision, due to an increase in Purchases of goods and materials 18.8% ($2.5b) and Total labour costs 7.0% ($1.3b). The growth in purchases came as a result of inflated operational and maintenance costs, most notably increased expenditure on fuel. Truck driver shortages resulted in higher wage offerings across the industry.
• Transport postal and warehousing Employment grew by 1.4% (9,000 people).

The Information, media and telecommunications industry division experienced growth in most key data items.

• The Information, media and telecommunications industry division reported an increase of 1.1% ($233m) in earnings.
• Subdued division earnings growth was predominantly a result of a 50.1% (-$832m) decline in the Publishing (except internet and music publishing) subdivision as customers continue to shift away from traditional forms of media while software publishers prioritise the enhancement of product offerings over earnings. The Motion picture and sound recording activities subdivision increased 632.5% ($774m), as cinema attendance increased following COVID-19 restrictions in 2021-22. 
• Total expenses increased 13.0% ($12.7b), driven by an increase in Total labour costs of 13.6% ($3.1b) and Other intermediate input expenses of 15.8% ($6.3b).
• Employment within the Information media and telecommunications industry rose 4.0% (7,000 people).

The Auxiliary finance and insurance services subdivision experienced continued growth across most key data items.

• Auxiliary finance and insurance services subdivision saw earnings decrease 11.7% (-$1.9b). Increased market volatility, and a fall in consumer confidence resulted in reduced trading volumes. 
• The Auxiliary finance and insurance services subdivision experienced an 0.3% ($116m) increase in IVA.
• Employment within the Auxiliary finance and insurance services subdivision increased by 6.8% (11,100 people), while Wages and salaries increased 6.6% ($1.3b).

The Rental, hiring and real estate services industry experienced continued growth across some key data items.

• Rental, hiring and real estate services division earnings fell 0.7% (-$516m), driven by the Property operators and real estate services subdivision (2.9%, -$1.6b), which was adversely impacted by a decline in residential property transfers. The decline was offset by the Rental and hiring services (except real estate) subdivision (8.7%, $1.1b), which saw strong demand for equipment from the Engineering construction sector, where the value of work done increased 12.6% in chain volume measures between 2021-22 and 2022-23.  
• Rental, hiring and real estate services division IVA increased 3.4% ($3.3b). Sales and service income increased 6.5% ($10.5b), this was offset by increases in Other intermediate input expenses (7.9%, $3.5b) and Purchases of goods and materials (22.6%, $4.3b).
• Rental, hiring and real estate services industry division Employment grew 18,000 people (4.2%), while Total labour costs increased 8.1% ($1.9b).

The Professional, scientific and technical services industry recorded growth across most key data items.

• Professional, scientific and technical services industry earnings grew 8.5% ($3.2b), led by engineering firms supporting the delivery of several major civil infrastructure and renewable energy projects.
• Growth in earnings was driven by a 12.7% ($3.8b) increase in the Professional, scientific and technical services (excluding computer design and related services) subdivision. The Computer system design and related services subdivision mitigated this growth, with a decrease in earnings of 6.6% (-$546m).
• IVA grew 12.5% ($20.5b), driven by a 10.8% ($31.9b) increase in Sales and service income, which was partly offset by a 20.9% ($7.7b) increase in Purchases of goods and materials, and a 4.2% ($4.2b) increase in Other intermediate input expenses.
• Professional, scientific and technical services industry Employment grew 40,000 people (3.1%). Total labour costs increased 12.1% ($14.7b).

The Administrative and support services industry recorded growth across most key data items.

• Administrative and support services industry division earnings grew 9.6% ($1.2b). 
• Administrative and support services earnings growth was primarily driven by the Administrative services subdivision (14.8%, $1.1b), where recruitment service providers benefitted from the from the scarcity of skilled labour, resulting in a higher number of advertised jobs in a low employment rate environment.
• IVA grew 15.9% ($12.5b), driven by a 14.7% ($17.2b) increase in Sales and service income, which was partly offset by a 26.3% ($2.2b) increase in Purchases of goods and materials, and a 9.1% ($3.0b) increase in Other intermediate input expenses. Operating profit before tax increased 20.1% ($2.1b).
• Employment fell by 4,000 people (0.4%), mainly driven by the Building cleaning, pest control and other support services subdivision which decreased by 10,000 people (-4.5%) due to labour shortages.

The Public administration and safety industry grew across all key data items.

• Public administration and safety in scope of the Economic Activity Survey consists of the private sector component of SD 77 Public order, safety and regulatory services.
• Public order, safety and regulatory services (private) subdivision reported an increase of 20.4% ($285m) in earnings, due to an increase in demand from businesses for security services to hospitality and recreational venues. 
• IVA grew 13.6% ($1.0b). The increases in earnings and IVA were driven by an increase in Sales and service income of 14.8% ($1.8b), while Purchases of goods and materials increased 12.4% ($130m).
• Public order, safety and regulatory services (private) subdivision Employment increased by 4,000 people (4.3%).

The Education and training industry grew across all key data items.

• Education and training (non-Government) sector industry earnings increased 10.3% ($655m), largely driven by the Adult, community and other education subdivision, which increased 25.2% ($350m). 
• IVA increased 8.9% ($3.2b), largely driven by a 10.5% ($5.3b) increase in Sales and service income, offset by a 34.3% ($1.1b) increase in Purchases of goods and materials.
• IVA growth was experienced across all subdivisions in the Education industry, with the Preschool and school education subdivision showing the largest growth in IVA of 5.1% ($1.3b).
• Total labour costs increased in the Education and training (non-Government) sector by 8.2% ($2.4b) with Wages and salaries driving the bulk of this movement, increasing 7.6% ($2.0b).
  Education and training industry Employment increased 18,000 people (3.8%).

The Health care and social assistance industry grew across all key data items.

• Health care and social assistance industry division earnings grew 2.5% ($895m). This was driven by the Residential care services subdivision, which increased by 178.9% ($2.0b), offset by the Hospitals subdivision and the Social assistance services subdivision, decreasing earnings by 37.5% (-$555m) and 27.9% (-$460m) respectively.
• IVA grew 9.7% ($12.2b), driven by an increase in Sales and service income of 9.2% ($17.3b) and an increase in Recurrent government funding excluding COVID subsidies of 40.4% ($1.5b).
• Health care and social assistance industry Employment increased by 123,000 people (8.0%), driven by the Social assistance services subdivision, which increased 66,000 people (12.6%). 
• The Residential care services subdivision also increased 35,000 people (11.0%), as businesses increased staffing levels in advance of changing staffing requirements from 1 July 2023.

The Arts and recreation services industry experienced continued growth across most key data items.

• Arts and recreation services industry division earnings grew 29.6% ($1.6b). 
• The earnings increase was driven by a rise in Sales and service income of 21.1% ($8.1b), due to strong consumer demand for recreational activities following the end of COVID-19 restrictions.
• IVA growth was driven by the Sports and recreation activities subdivision, which showed IVA growth of 36.6% ($2.5). 
• Wages & salaries growth (18.1%, $1.6b) outpaced Employment (11,000 people, 4.5%), due to the return of normal working hours following the conclusion of COVID-19 related restrictions. 

Other Services grew across all key data items in 2022-23.

• Other services earnings increased 4.1% ($239m). Growth was due to businesses no longer being impacted by COVID restrictions or supply chain issues. 
• IVA for Other services experienced growth of 17.6% ($6.8b), driven by an increase in Sales and service income of 16.0% ($12.2b), which was partially offset by a 18.3% ($4.1b) increase in Purchases of goods and materials.
• Wages and Salaries within the Other services industry increased 13.0% ($3.3b). 
• Other services industry Employment grew by 52,000 people (9.4%), driven by the Personal and other services subdivision, which increased 41,000 people (12.0%).

Micro businesses (those with 0-4 employees) are more likely than other businesses to be sole proprietors and partnerships, and also include a large number of non-employing businesses. These businesses have low or nil wages, and the owner operators pay themselves out of business profits rather than receiving a wage or salary. This can have a distorting effect on some indicators, reducing their share of Wages and salaries, but increasing their OPBT and EBITDA when compared to other key indicators and other business sizes.

• In 2022-23, micro businesses contributed a 10-25% share of the overall total of most key data items, with the exception of OPBT (30.6%).

In 2022-23, compared to 2021-22, micro businesses reported increases in all key data items with the exception of Operating profit before tax, which had a decrease of 7.0% (-$16.1b).

• Sales and service income increased 13.0% ($109.4b), with the largest increases reported by the Construction industry at 19.1% ($33.6b) and Mining at 37.5% ($15.9b). The only division to report a decrease was Other services at 1.2% (-$344m).
• Wages increased by 10.8% ($9.0b). This increase was primarily due to the Construction (18.2%, $2.8b) and Transport, postal and warehousing industries (54.9%, $1.9b). The largest negative contributor to the movement was the Administrative and support services industry (7.9%, -$438m).
• Employment increased by 41,000 people (1.3%), driven mainly by increases Transport, postal and warehousing (23,000 people, 10.8%), and Construction (16,000 people, 3.0%). These increases were offset by a decline in the Administrative and support services industry (40,000 people, -20.0%).
• OPBT decreased by 7.0% (-$16.1b), driven heavily by the Rental, hiring and real estate services industry (46.9%, -$38.1b), while other industries such as Mining (78.3%, $12.0b) and Construction (21.1%, $5.0b) showed increases.

• Small businesses (those with 5-19 employees), contributed a 10%-20% share to the overall total of all key data items in 2022-23.

In 2022-23, compared to 2021-22 the small business sector experienced growth for all indicators.

• Sales and service income increased 14.9% ($86.6b), with the largest increases reported by the Wholesale trade industry at 42.5% ($38.5b). The division to report the largest decrease was Construction at 6.8% (-$6.1b).
• Wages increased by 13.8% ($16.0b). This increase was primarily due to the Construction (15.8%, $2.7b) and Other services industries (32.6%, $2.1b). The largest negative contributor to the movement was the Professional, scientific and technical services industry (2.1%, -$423m).
• Employment increased by 179,000 people (8.1%), driven primarily by Accommodation and food services (64,000 people, 21.7%) and Health care and social assistance (61,000 people, 26.9%). This was offset by decreases in Employment for Professional, scientific and technical services (-20,000 people, 7.2%), and Transport, postal and warehousing (-13,000 people, 18.9%).
• OPBT increased by 26.3% ($17.3b), driven mainly by the Mining (30.4%, $3.0b) and Healthcare and social assistance (81.5%, $2.8b) industries. The largest decrease was seen in the Construction industry at 16.8% (-$1.6b).

• Medium businesses (those with 20-199 employees) contributed a 20-30% share to the overall total of most data items, with the exception of OPBT (15.4%) and EBITDA (15.9%). 

In 2022-23, compared to 2021-22, medium businesses reported increases in all key data items.

• Sales and service income increased 10.4% ($108.8b), with the largest increases reported by the Construction industry at 22.1% ($26.8b) and the Wholesale trade industry at 11.5% ($24.6b). The division to report the largest decrease was Manufacturing at 13.2% (-$19.7b).
• Wages and salaries increased by 14.1% ($29.1b). This increase was primarily due to the Professional, scientific and technical services (24.1%, $7.9b) and Health care and social assistance industries (39.6%, $5.9b). The largest negative contributor to the movement was the Financial and insurance services industry (10.9%, -$784m).
• Employment increased by 185,000 people (6.1%), driven mainly by Health care and social assistance (63,000 people, 20.1%), and Professional, scientific and technical services (52,000 people, 15.3%). This was offset by decreases in Employment for Transport, postal and warehousing (-7,000 people, 6.6% and Financial and insurance services (-5,000 people, 10.9%).
• OPBT increased by 10.2% ($10.0b), driven primarily by the Mining industry (91.7%, $12.9b). The largest decrease was seen in the Professional, scientific and technical services industry at 43.5% (-$4.0b).

• Large businesses (those with more than 199 employees) contributed a 30-45% share to the overall total of most data items.

In 2022-23, compared to 2021-22, large businesses reported increases in all key data items with the exception of Operating profit before tax, which had a decrease of 4.3% (-$13.3b).

• Sales and service income increased 15.6% ($283.3b), with the largest increases reported by the he Wholesale trade industry at 21.1% ($57.0b), the Manufacturing industry at 23.2% ($54.3b) and the Mining industry at 16.9% ($54.1b). The division to report the largest decrease was Health care and social assistance at 4.2% (-$3.5b).
• Wages increased by 7.9% ($26.1b). This increase was primarily due to the Professional, scientific and technical services (11.0%, $4.0b) and Mining industries (12.0%, $3.0b). The largest negative contributor to the movement was the Health care and social assistance industry (3.1%, -$1.4b).
• Employment increased by 168,000 people (3.9%), driven primarily by Accommodation and food services (58,000 people, 21.9%), Manufacturing (28,000 people, 9.2%). Health care and social assistance slightly offset the overall increase, reporting a decrease of (-16,000 people, 2.1%)
• OPBT decreased by 4.3% (-$13.3b), driven primarily by the Professional, scientific and technical services industry (54.2%, -$41.2b). The largest increase was seen in the Mining industry at 20.2% ($29.4b).