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 is home to highly innovative, competitive and world-leading manufacturers that are vital to the diversity and strength of the Australian economy.
NSW ICT sector success is founded on the state's world-class infrastructure and business networks. Infrastructure-related construction is experiencing major growth.
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 also has Australia's largest concentration of arts-related ICT businesses such as animation and design.
Cyber security has emerged as one of the most high-profile, cross sectoral and rapidly evolving risks in the digital environment.
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.
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.
The medical technology industry is the largest in Australia, generating an estimated $4.8 billion in revenue per year and employing around 7,000 people.