Size of New South Wales

New Southern Wales (NSW) is Australian Continent's largest condition economic climate, with 31percent regarding the nation's GDP. Another biggest state, Victoria, featuring its capital, Melbourne, adds 22%.

With a populace of greater than 7.3 million, or near 1 / 3 regarding the Australian total, NSW features a large and developing domestic market. Per capita GSP, at nearly $65, 000, was the second highest of all states in 2012-13. In 2012-13, 33per cent of nationwide family spending took place hawaii, totalling $277.5 billion.

Exclusive business financial investment

Virtually $58.0 billion worth of personal company investment ended up being recorded inside state in 2012-13, representing real development of 8.7% across past 12 months. NSW has actually taped genuine typical increases of 7.0percent per year in business financial investment within the 10 years to 2012-13.

Overseas backlinks

NSW has extensive backlinks to worldwide areas. In 2012-13, their state's exports of goods and solutions had been valued at a lot more than $62.7 billion on a stability of repayments foundation, representing 21per cent of nationwide exports. Exports of products and solutions grew by 3.4per cent in real terms in 2012-13, driven primarily by record high coal amounts.

Providers exports

Services exports taken into account one third of New South Wales exports, compared with 17percent for Australian Continent overall, reflecting the diversification and higher level nature associated with condition's export base, which can be less reliant on sources than various other says.