Western Australia – Emerging Resource Powerhouse

Below is some very interesting information taken from the presentation given by Mr John Poyton from Azure Capital at the IWAF event in November 2012.

Whilst many, particularly on the east coast, are quick to label W.A as lucky, there is far more depth to W.A’s recent history and future than being blessed with ‘the luck of the Irish.’

Snapshot
– The West Australian economy is the export power house of the nation contributing 46% of the country’s exports

  • By 2020 this figure is expected to be above 50%

– The West Australian economy is the strongest in the country

  • Unemployment rate: 4.3%

– GDP per capita for Australia is ($US)66,000 – this makes Australia one of the wealthiest nations on the planet

  • West Australia’s Gross State Product per capita is ($US)102,000 – an increase of 6.7% in the 2012 financial year
  • Since 2007-08 WA’s total GSP has grown by 54%

– W.A’s population has grown by 33% in the last 10 years

  • Approximately 1,400 people a week migrate to W.A

– W.A accounts for 60% of Australia’s mineral production
– W.A accounts for 75% of the country’s petroleum* production
– Approximately 85% of W.A exports go to Asia
– Clearly W.A is increasingly geared toward Asia and not the domestic market

Notes: *Petroleum defined as Oil & Gas
Source: ABS, ABARES, BREE, Dept. of Mines & Petroleum, West Australian Newspaper.

John Poyton has kindly made his presentation available to view and download: