What is the Four Pillars’ share of the Queensland economy?

Last week I noted how Nick Behrens of CCIQ made the good point on Steve Austin’s ABC radio show that the Queensland economy is much more than the so-called four pillars of agriculture, construction, resources (i.e. mining) and tourism. In terms of their direct contribution to industry gross value added (GVA), the four pillars account for around 25% of the Queensland economy (see my chart below based on ABS State Accounts and Tourism Research Australia data).

fourpillarsThis chart shows the direct contribution the sectors make, without trying to undertake the difficult and conceptually challenging task of also identifying the indirect or flow-on/multiplier effects of the sectors. Peak bodies for the different sectors will of course claim that their particular sector is more important because it underpins activity in other sectors. I’ve previously posted on this argument regarding the resources sector:

RBA confirms QRC analysis – resources sector spends mega bucks domestically

Resources sector jobs multiplier

Also, see my post How important is tourism to the Queensland economy?, in which I note the calculation of multiplier impacts in controversial. Again, I’ll aim to elaborate on this point in the future.

 

Advertisements
This entry was posted in Agriculture, Mining, Tourism and tagged , , , , , , , , , . Bookmark the permalink.

2 Responses to What is the Four Pillars’ share of the Queensland economy?

  1. Mark says:

    Haha. Thanks for that. From a policy perspective I think my original post a few years ago on pillars implicitly but not explicitly queried why the pillars of Queensland related to selecting specific industries rather than aspects such as education and industrial relations which are within the actual ambit of a government?

    • Gene Tunny says:

      Yes, good point, and it was remiss of me not to reference your post, sorry. Yes, the Government would be better off talking about drivers of growth or something like that rather than identifying specific industries, because I hope it wouldn’t want to be seen as picking winners. Thanks for the comment, Mark.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s