Resources sector continues to drive Queensland’s economy

Queensland’s resources sector generates one in every five dollars of the state’s economy and one in every eight jobs in Queensland, according to a report released today.

Launching the Queensland Resources Council’s (QRC) ninth annual economic contribution report alongside council Chief Executive Ian Macfarlane, Minister for Resources and Northern Australia Matt Canavan said it was pleasing to see the sector’s continuing strength and success.

“Queensland is leading Australia’s resources charge, which is great news for the state and for every person who benefits from the services the industry helps support through the revenue it returns to the state’s coffers, including schools, hospitals and roads,” Minister Canavan said.

“Queensland is enormously fortunate to be rich in resources. This has helped our state develop a world-class industry that contributes significantly to the quality of life of everyone who lives here.

“According to the ABS, resources contributed 10.5 per cent of the state’s GDP in 2016-17 and in 2017 there were more than 1800 businesses in Queensland involved in the mining sector.”

Minister Canavan said he was pleased to see the robust state of Queensland’s resources sector reflected in the QRC report

“The QRC’s report shows that resources contributed close to $63 billion to the state’s economy last financial year and supported more than 316,000 full time positions across Queensland, from diesel mechanics and port workers to chefs, teachers and scientists,” he said.

“It’s also tremendous to see resources companies contributing to more than 1000 community organisations, providing a range of vital services to all Queenslanders.

“Coal is the largest overall contributor, accounting for 69 per cent of economic contributions, followed by metals at 15 percent and oil and gas at 13 percent.

“Coal plays a major role in the economies of Central Queensland, particularly in the Mackay and Isaac regions which includes the Bowen Basin. More than 20,000 people are employed in the coal industry in the region – that’s almost 80 per cent of those employed in the coal industry in all of Queensland.

“The QRC report highlights the importance of Queensland’s coal to international markets, but also emphasises the world wants the state’s bauxite, copper, gold, silver and zinc for electric vehicles and smart phones, while our gas is in demand in Asia and beyond.

“I am looking forward to working with Queenslanders to ensure the sector remains healthy and continues its crucial contribution to the state’s economy and the livelihoods of the people who call Queensland home.”

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