New South Wales dominates Australian services exports, with a 40 per cent share. Sydney is the financial hub of Australia, with a strong professional services sector including legal, information technology, recreational travel and education-related travel. NSW also has Australia's largest manufacturing sector, which produces a healthy proportion of NSW exports - 19 per cent of the state's total exports and 27 per cent of Australia's manufactures exports in 2011.
About New South Wales
New South Wales' goods and services exports were valued at $60 billion in 2011, growing on average 4 per cent every year for the last five years. Key exports for NSW in 2011 were coal, education-related travel, recreational travel and copper ores. The state accounted for 20 per cent of Australia's total exports in 2011.
2010-11 economic indicators
- Estimated resident population (September 2011): 7,317,469
- Real Gross State Product growth (%): 2.2
- Proportion of Australian GDP (%): 31.3
Why New South Wales trades
- Trade gives residents of New South Wales the chance to choose from a wide range of competitively priced goods and services from around the world.
- Both exports and imports create jobs. One in five Australian jobs is directly related to trade.
- New South Wales' exports are equal to 13.9 per cent of Gross State Product, building wealth and prosperity.
- Foreign investment plays an important role in New South Wales' economic development and provides capital to fund business expansion.
How the Australian Government encourages New South Wales' trade
The Australian Government is helping New South Wales' exporters to become even more competitive by further reforming the domestic economy. The Government is investing in skills, education, the National Broadband Network and other infrastructure, as well as engaging in tax reform and cutting regulatory red tape.
The Government is also working to increase market access and improve conditions for exporters overseas by advancing multilateral trade liberalisation through the World Trade Organization, facilitating greater regional trade, and removing bilateral trade barriers.
New South Wales and Australia's FTAs
- NSW is a leading exporter of high value-added pharmaceutical and medical products. The AUSFTA has created market openings for a range of NSW's sophisticated manufactured exports, including therapeutic medical instruments, which are now NSW's top export to the United States.
- Similarly, pharmaceutical products are NSW's top export to New Zealand. Under the ANZCERTA, they enjoy tariff-free access and, thanks to the recently established Australia-New Zealand Therapeutic Goods Agency, harmonised regulatory frameworks.
- Of NSW's top 10 merchandise trading partners, fi ve (the United States, New Zealand, Thailand, Malaysia and Singapore) are covered by existing FTA arrangements, while another three (Japan, China and South Korea) are currently in FTA negotiations with Australia.
Information and contacts
Department of Foreign Affairs and Trade
Advancing Australia's interests overseas
DFAT state office contact details
02 9356 6222
State government contact
Information for new and existing exporters
13 28 78
Australia's Free Trade Agreements