Marine Industries Contribute $74 Billion to Australia’s Economy
Australia’s so called ‘blue economy’ has made a significant contribution to the nation’s prosperity and is increasingly recognised around the world as a high value, high potential growth sector.
The Australian Institute of Marine Science (AIMS) today released its biennial industry update showing Australia’s marine industries contributed $74.2 billion to the national economy in 2013-14.
This accounts for 4.8 per cent of national Gross Domestic Product and directly and indirectly provides almost 400,000 jobs.
The AIMS Index of Marine Industry assesses the size of Australia’s blue economy–the economic contributions made by fishing, offshore oil and gas exploration and extraction, boat and ship building, repair and maintenance services and infrastructure, marine tourism and recreational activities, and water transport.
Its total economic value is measured by the value-add that marine industries generate directly, plus the indirect contribution made to other industries.
In total, Australia’s marine industries contributed $42.0 billion to value-add in 2013-14, with a further indirect $32.2 billion of value added in other industries.
It’s this kind of in-depth high-quality information which helps decision makers, industry and the community in managing the challenge of realising the full potential of our blue economy, while safeguarding our oceans to ensure their longer term health.
Australia’s marine researchers, including from leading institutions such as AIMS, have proactively developed, and are collaboratively implementing a decadal National Marine Science Plan–designed to provide the research and data required to support sustainable development of our blue economy, and where necessary reverse the decline in sensitive marine systems such as the Great Barrier Reef.
The full Index of Marine Industry report can be accessed on the AIMS website: http://www.aims.gov.au/aims-index-of-marine-industry
Media Contact: Virginia Cook 0400 657 367