Australia’s Marine Industry supporting the nation’s economy

The latest report into Australia’s Blue Economy released today, shows the marine industry is one of the country’s fastest growing, and is worth more than $68.1 billion.

 

Australia’s tropical marine science agency the Australian Institute of Marine Science, commissioned the 7th AIMS Index of Marine Industry report, compiled by leading economics research firm Deloitte Access Economics, which shows the marine industry employs 393,000 people.

Recreational and commercial fishing, transport, tourism, aquaculture, and oil and gas exploration, were among the marine-based activities which contribute to the nation’s total economic contribution.

AIMS CEO Paul Hardisty said this year’s update confirms the significant contribution marine industries make to the national economy.

“Over the past decade, it has been one of the fastest growing parts of our economy, and as a whole, is larger than our agricultural sector,” Dr Hardisty said.

“The Marine Index gives us a clear picture of our Blue Economy, and with supportive industry and government partnerships, and marine science infrastructure for exploration and monitoring, we can support the nation’s economy.”

Tourism is the largest individual sub-sector of the marine industry with a total measurable output of $30.9 billion in 2015-16. This is followed by the marine oil and gas sector which produced $23.3 billion in the same period.

Dr Hardisty said growth in the sustainable use of our oceans is vital to Australia’s future prosperity and dedicated marine research institute’s such as AIMS, ensure that growth occurs in a way that preserves and protects our unique marine ecosystems now and in the future.

AIMS released the first Index of Marine Industry in 2008 to bring together previously dispersed information into a single document, in order to highlight its significant contribution to the Australia economy.

Before this, the benefits had not been considered in terms of a single category – the ‘marine industries’ sector.

Click here to read Minister Andrews announcement.

Read the latest AIMS Index of Marine Industry.