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The state of the economy/ Towards 2000
As well as being accessible, Western Australia is a state
of opportunity and innovation. Our current Gross State Product is $50.7
billion, thanks to the support of a variety of business sectors which are
very strong and offer substantial opportunities.
For instance:
- Western Australia's internationally recognised oil
and gas industry is the leading petroleum producer in Australia.
- There are billions of dollars worth of resource and
infrastructure projects currently under construction or being
considered.
- The state's thriving shipbuilding and marine industry
provides 20 per cent of the world's new lightweight, high speed
ferries.
- Fishery, agricultural and forestry production is
worth more than $4 billion each year, while 80 per cent of all primary
produce is exported.
In the last 10 years, Western Australia has been the
fastest growing state economy in Australia, achieving a five per cent
average annually compared with the national average of 2.8 per cent.
We also:
- attract 15 per cent of all new private capital
investment in Australia
- account for more than 30 per cent of Australian
private investment projects currently committed or being considered.
This investment should reach $45 billion over the next five years.
So there is ample opportunity for businesses wishing to
invest in mining, marine engineering, agribusiness or the oil and gas
industries.
The state is also gaining a reputation as headquarters
for the Indian Ocean region and South East Asian activities of many
international businesses.
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