Mining and METS: Engines of Economic Growth and Prosperity for Australians
A Deloitte Access Economics report for the Minerals Council of Australia finds that the total economic contribution of Australia’s mining and METS sector was $236.8 billion in 2015-16.
The mining sector has long made – and continues to make – a significant contribution to Australia’s economic growth and development. The Australian mining industry uses sophisticated production techniques and highly skilled labour to make the most of Australia’s comparative advantage in mineral endowments. The supporting activities of the mining equipment, technology and services (METS) sector add further to Australia’s national income and employment.
This report, commissioned by the Mineral Council of Australia, estimates the total economic contribution of the mining and METS sector to Australia’s gross domestic product (GDP) by using an input-output modelling framework in order to capture all mining and METS activities.
Deloitte Access Economics estimates the total economic contribution of Australia’s mining and METS sector in 2015-16 was $236.8 billion, representing around 15% of the Australian economy. This economic activity supported a total of 1,139,768 FTE jobs across Australia, which represents around 10% of total FTE employment.
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