Investor Presentaiton
Queensland in the global context
Our strong economic foundation
Past economic performance
Queensland's economy in the 19th century was built upon
agriculture and resources which drew immigrants and
investment to the state. In the 20th century, Queensland
consolidated its commodities-based export position,
proving to be a reliable supplier of raw resources feeding
Asia's industrial and urban transformation. By the 1980s,
coal overtook sugar as Queensland's main export and Japan
became the state's major export market, a position it held
until 2013 when it was overtaken by China.
From the 1990s onwards, Queensland embarked on a
period of sustained economic expansion, benefiting from
a commodity boom in the early 2000s, high levels of
infrastructure investment and rapid population growth.
The onset of the global financial crisis in 2008 led to weaker
domestic conditions, with the state's economy hindered in
subsequent years by subdued global economic conditions,
the on-going strength of the Australian dollar and natural
disasters. Despite this, Queensland's economy showed
resilience and avoided recession.
The Queensland economy has outperformed the rest
of Australia throughout most of the past two decades.
Growth strengthened after the global financial crisis,
driven by a recovery in coal exports and a large increase
in business investment as a result of the construction of
liquefied natural gas (LNG) projects.
Roma, Queensland
Courtesy of Tourism and Events Queensland
Ballandean, Queensland
Courtesy of Tourism and Events Queensland
Current export profile
Interstate and overseas exports comprise almost one third
of Queensland's economy.
The value of Queensland's exports has increased by almost
50 per cent in the last decade, led by a rise in resources,
and more recently, LNG, agricultural and education services
exports.
In 2015-16, the nominal value of Queensland's goods
exports increased 2.7 per cent to $51.6 billion. In 2015-16,
Queensland services exports increased 6.8 per cent to
$11 billion.
Queensland's mining, food and agribusiness, tourism and
international education and training (IET) sectors are major
exporters and support jobs throughout Queensland (see
Figure 1).
Figure 1: Queensland goods and services exports,
2015-168
Mineral resources 48%
Agriculture 15%
International tourism 8%
International education and training 5%
Knowledge intensive services 3%
Machinery/Equipment manufactures 3%
Other manufactured 3%
Other products and services 15%
14 Queensland Trade and Investment Strategy 2017-2022View entire presentation