Australian Growth

August 14th, 2012 at 10:00 am by David Farrar

Just been going through the GSP growth for the various Australian states. The data tells a real story of two Australias. The data I am using is seasonally adjusted state final demand, which is similar to our GDP or economic growth.

  • Western 14.5%
  • Queensland 7.5%
  • Victoria 2.7%
  • South Australia 2.3%
  • NSW 1.9%
  • Tasmania -0.8

It would be worth remembering those massive differences when certain politicians bemoan the fact Australia’s growth is higher overall than in NZ, yet oppose New Zealand undertaking the activities that are fuelling the boom in WA and Queensland.

 

Tags:

11 Responses to “Australian Growth”

  1. my 2 cents (1,091 comments) says:

    drill baby drill

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote
  2. tvb (4,494 comments) says:

    Otis particularly with noting Tasmania which is a locked up green paradise.

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote
  3. Luke Mutton (247 comments) says:

    And even if we mined ALL the supposed mineral wealth in NZ, do you think we’ll match WA or Qld? No, more like Victoria which also has mineal wealth, but like NZ, less iron ore, far more brown coal / lignite.

    NSW also has mines, as does SA. Its not the mining, its the volume, and NZ cannot come clsoe to matching Qld volumes, let alone WA.

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote
  4. boredboy (250 comments) says:

    LM, SA’s Olympic Dam is currently expanding from 9 million tonnes a year to 72 million tonnes a year. Expect to see that GSP increase to skyrocket over the next 5-10 years.

    Besides, it’s the per capita production of the mines that matter, not the overall volume. I read somewhere (can’t rememner, no link) that New Zealand has similar mineral wealth to Australia on that basis.

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote
  5. Lance (2,704 comments) says:

    Of course the left oppose mining.
    If you keep em poor, the govt can continue to control the masses with hand outs.

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote
  6. Luke Mutton (247 comments) says:

    BB, I am well aware of Olympic Dam’s potential, but where is the NZ equivalent?

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote
  7. georgebolwing (978 comments) says:

    A subtle distinction between Australia’s opportunities and New Zealand’s is that of alternative uses.

    Not only does Australia have the good fortune to have vast amounts of easily assessable minerals, it has them in places with few alternative uses. The outback of WA, the NT and QLD are sparsely populated, inhospitable areas with few natural endowments. While there is some tourist potential, this does not often conflict with mining: the mines are relatively small and there is more than enough bush left for the other things that people might want to do (which isn’t much).

    Thus there are few trade-offs involved: Australians can have their wealth and their environment.

    Industries that involve clear alternative uses, which have tended to be in states like NSW, Vic and Tas, like felling native forests for export, have been the subject of great controversy because of those trade-offs. Developments in the other states that involve, for example, using the small amounts of available water have also been subject to intense debate.

    New Zealand has the misfortune to large parts of its potential mineral wealth in areas with significant alternative uses.

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote
  8. anonymouse (721 comments) says:

    @Bored boy, SA’s Olympic Dam is currently expanding
    Or maybe not…

    http://www.businessweek.com/news/2012-07-27/bhp-to-delay-olympic-dam-expansion-until-2014-australian-says

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote
  9. Cunningham (845 comments) says:

    We can raise our wealth by making NZ a much more competitive and attractive place to do business. We have Australian companies operating here who plan to increase their investment in NZ due to currency, costs and the friendlier business environment (NZ herald had an article on it). Welcoming overseas investment is the key and National to its credit is pushing for this. It will take time but we need to keep pushing to make it easier for businesses to invest and operate here. Mining is just one part of what will make us rise. Sadly if the left get in, they will do the oppositie and we will go backwards. It is happening in Aus and will happen here.

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote
  10. Nigel (517 comments) says:

    Is that true George, I have not seen the data, but I’m led to believe there is alot under the ground in Northland and there are some big areas up here that don’t have alternative uses, by alot I do mean alot to, rumour I heard was WA style growth potential.

    The surprising part of Northland mining is how many people are opposed when we are struggling so much, sure any mining has to be environmentally neutral and be done in a way to not impact other industries like tourism, but if a province needs mining, it’s Northland ( though one only has to look at the issues putting in a cycle trail here to realise how many don’t appear to want economic development ).

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote
  11. mermop (1 comment) says:

    Queensland does have a more complex picture – it’s a very large state and while the economic growth is in the north, the population growth is in the south-east. So it also has higher unemployment than the Australian average, and it’s worth noting that one of the reasons for this is outsourcing manufacturing jobs in the south east to cheaper countries including New Zealand. And of course the bane of some industries in Australia has been the mining-induced high AUD.

    Vote: Thumb up 0 Thumb down 0 You need to be logged in to vote