A recent report from Ports Australia has highlighted the crucial economic role ports play in New South Wales (NSW) and the entire nation.
According to the ‘State of Trade’ report, Australian ports facilitate the movement of goods and commodities valued at AUS 650 billion ($433 billion) annually, underscoring their importance to the country’s economy.
The report also highlights the role of ports in NSW in the Australian economy, including AUS 127 billion ($84.65 billion) in annual international trade value, facilitating the movement of 203 million tonnes of cargo each year, and supporting 108,000 jobs across the state.
Port Authority of NSW CEO Captain, Philip Holliday, said: “The State of Trade report highlights the significant role ports play in our everyday lives.
“Ports in NSW alone are responsible for the movement of millions of tonnes of goods, driving economic growth with a trade value in the hundreds of billions.
“Over the past decade, the Port Authority [of NSW] has facilitated an AUS 1 trillion ($666.5 billion) contribution to the economy, supported thousands of jobs, and promoted regional and state-wide growth with safe and sustainable port operations maximising the efficiency of well-established supply chains.”
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Ports Australia CEO, Mike Gallacher, said: “We often take for granted just how critical our ports are across a range of industries and communities.
“The extensive data in the inaugural State of Trade report demonstrates the interconnectedness of Australia’s key industries and supply chains to our economic health and allows us to plan for the future.”
Earlier this May, the Australian and Western Australian governments announced a total investment of AUS661.6 million ($439 million) in the Lumsden Point project at Port Hedland.
