NSW leads on export services
Media release | 1 December 2017
NSW is leading Australia in the export of services, with $33.9 billion in total services exports in 2016/17 or 42 per cent of total Australian services exports, according to the latest Australian Bureau of Statistics (ABS) figures.
The ABS figures also show global demand for NSW’s expertise in information, computer and telecoms (ICT) services, education, financial and other professional services.
International education and ICT services were some of the state’s fastest growing export sectors. International education services exports grew by 18 per cent to $10.3 billion, while our ICT services exports grew by 17 per cent last year to $2.2 billion.
Minister for Trade and Industry Niall Blair said the growth in services exports highlighted the NSW Government’s commitment to NSW exporters.
“NSW has seen a $2.8 billion growth in 2016/17 alone, which has contributed to 45 per cent of total Australian growth in services exports,” Mr Blair said.
“The strong growth in international education exports means that the NSW Government has already surpassed our target to reach $9 billion by 2020.
“It’s a prime example of how Aussie services export smarts are winning on the world stage.”
China remains Australia‘s largest market for service exports, growing 14 per cent in 2016/17 to $14.7 billion.
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The ABS International Trade: Supplementary Information, Financial Year, 2016-17 data are available on the ABS website.