Global demand for NSW exports has put the ‘First State’ in the lead with $35.7 billion worth of Australian services exported last year.
NSW contributed 52.3 per cent of the total Australian growth in services exports, which highlights the NSW Government’s success in creating an entrepreneurial business environment.
Minister for Trade and Industry Niall Blair said the latest ABS figures revealed a global demand for the state’s expertise in education, telecommunications, ICT services, financial and other professional services.
“In 2017 alone, our service exports grew in value by $3.6 billion. We have hit our 2020 target for international education exports three years early, surpassing $9 billion in exports,” he said.
“These figures, yet again, demonstrate the strength of the NSW economy and the global demand for our services.”
“China remains Australia’s largest market for service exports, with exports to China growing $15.8 billion.”
NSW’s services exports growth:
- International education exports – 20.6 per cent to $11.3 billion
- ICT exports – 11.6 per cent to $2.3 billion
- Financial services exports – 5.6 per cent to $3.1 billion