WA continues to defy the odds with the strongest economic growth nearly 10 years.
The 2023-24 Mid-Year Review revealed growth in Gross State Product of 3.5% in 2022-23. State Final Demand has been forecast to grow by 4.5% for 2023-2024 potentially.
We have an estimated operating surplus forecast at $3.7 billion with iron ore again helping to re-enforce solid foundations in the mining sector.
State infrastructure investment is tipped to be at a record $39 billion spend over the next 4 years.
WA wage growth for 2023-24 rose by close to 4.6%.
Our 10.8% share of the national population accounted for a 17.5 % contribution to the national economy.
WA is still amongst the top producers of minerals in the world being #1 in iron ore & lithium, #3 in LNG and #4 in gold. This, amongst others such as our prospering agricultural exports sector, accounts for a 47% share of national exports. Our share equating to $263.5 billion for the fiscal year ending in December ’23.