The economy of New South Wales benefits greatly from its mix of diversified industries. Traditional manufacturing, mining and agribusiness sectors have provided a firm foundation for diversification into high-growth areas such as aquaculture, biotechnology, ICT and viticulture.
NSW is renowned for its world-class professional services offerings, highlighting the state's strength in knowledge-based businesses and 90% of international banks operating in Australia are headquartered in Sydney, and the city is home to more than 60% of Australia's regional ICT headquarters and operations centres.
NSW also has the largest manufacturing sector in Australia, contributing $35 billion to the state's economy in 2011–12. It is a leader in exporting medicinal and pharmaceutical products and professional and scientific equipment, and is developing strong manufacturing capabilities in burgeoning sectors such as renewable energy and sustainable building products. Regionally, mining, mining services and agriculture continue to play a vital role in the NSW economy.
Agribusiness and food
Leading agriculture and food companies choose NSW because of the state's diverse production systems, rich natural resources and favourable climate.
Arts, culture and creative
NSW's thriving arts, culture and creative sector is the largest in Australia. It has Australia's largest concentration of arts-related ICT businesses such as animation and design.
NSW is best placed to meet the complex and evolving needs of the Australian defence industry and is home to the largest number of defence bases and facilities in Australia.
NSW boasts a dynamic and multicultural education sector that caters for domestic, international students and researchers across a wide range of fields.
Financial and professional services
NSW dominates the nation's services industries with Financial Services comprising of 88% of state's industry output.
Information and communication technology
NSW ICT sector success is founded on the state's world-class infrastructure and business networks. Infrastructure-related construction is experiencing major growth.
Infrastructure and construction
NSW has the largest number of companies dedicated to providing architectural, engineering, surveying, and property and business services of any Australian state.
NSW has the largest manufacturing sector in Australia, with a focus on the domestic market and high tech manufacturing.
Mining, resources and energy
Mining, resources and energy is a booming part of the NSW economy, driven by large and diverse mineral and gas deposits, exploration projects. It benefits from NSW's highly-skilled workforce.
Renewable energy and sustainability
NSW has the largest renewable energy and sustainability sectors in Australia, backed by major government and private sector initiatives.
NSW is the crown jewel in one of the world's premier tourist destinations. More people holiday in NSW than anywhere else in Australia.