Western Australia is one of the great mineral provinces of the world. It hosts an impressive 545 commercial mineral projects, which produce over 50 different minerals, and 73 operating oil and gas fi elds. Western Australia's resources industry continues to play a key role in the economic development and prosperity of the state and Australia.
About Western Australia
Western Australia's goods and services exports were valued at $126 billion in 2011, growing on average 16 per cent every year for the last five years. Key exports for Western Australia in 2011 were iron ore, gold and crude oil. The state accounted for 41 per cent of Australia's total exports in 2011.
2010-11 economic indicators
Estimated resident population (September 2011): 2,366,859
Real Gross State Product growth (%): 3.5
Proportion of Australian GDP (%): 15.5
Why Western Australia trades
- Trade gives Western Australians 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.
- Western Australia's exports are equal to 54.7 per cent of Gross State Product, building wealth and prosperity.
- Foreign investment plays an important role in the Western Australia's economic development and provides capital to fund business expansion.
How the Australian Government encourages Western Australia's trade
The Australian Government is helping Western Australian 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.
Western Australia and Australia's FTAs
- Around 27 per cent of Western Australia's gold exports, worth over $4 billion, flow to the jewellery-crafting centres of India. The Australian Government is negotiating an FTA with India in pursuit of increased and more secure access to this significant market.
- Like Western Australia, Chile is in the midst of a mining boom. The Australia-Chile FTA ensures Chile's liberal service and investment rules apply equally to Australian businesses. This is particularly valuable to exporters of mining and energy technology, education and training, and engineering consultancy services.
- Of Western Australia's top 10 merchandise trading partners, four (the United States, Indonesia, Thailand and Singapore) are covered by existing FTA arrangements, while another five (Japan, China, India, South Korea and the United Arab Emirates) 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
08 9231 4499
State government contact
Information for new and existing exporters
13 28 78
Australia's Free Trade Agreements