Queensland's pro-business economy
In this guide:
Queensland's pro-business economic environment and forecast growth offers investors a safe, long-term investment climate within a stable and resilient economy.
By relocating to Queensland, you will benefit from:
- a competitive tax environment
- a growing, diverse economy
- solid population growth.
About Queensland's economy
Economic indicators for Queensland
|Economic indicator||Queensland figures|
|Population (at 30 September 2015)||4.79 million|
|Population growth (year to September 2015)||1.2%|
|Gross state product (current prices, 2014-15)||$305.8 billion|
|Real gross state product annual growth (2014-15)||0.8%|
|Trend employment growth (year to May 2016)||1.0%|
|Trend unemployment rate (May 2016)||6.4%|
|Annual CPI inflation (March quarter 2016, Brisbane)||1.7%|
|International exports of goods (year to April 2016)||$48.1 billion|
|International imports of goods (year to April 2016)||$35.8 billion|
Economic growth in Queensland is forecast to strengthen to 3½% in 2015-16 and 4% in 2016-17, stronger than all other states. International exports will be the key driver of growth in these years as the liquefied natural gas (LNG) projects ramp up.
Around 75% of Queensland's international exports (in nominal terms) were to Asia in the year to April 2016. The state's largest merchandise export destinations (by value) in the year to April 2016 were China, Japan, South Korea and India.
Queensland's share of Australia's exports
Reflecting our strong outwardly focused economy, Queensland was Australia's second largest international merchandise exporter (by value) in the year to April 2016.
New dwelling construction has increased strongly over the past 2 years and growth is expected to remain strong in 2015-16 and 2016-17, driven by demand for the construction of medium-to-high density dwellings (flats, units or apartments).
Queensland's population is projected to increase to between 8.0 and 11.3 million people by 2061.
Queensland percentage of employment by industry, year to March quarter 2016
Source: Australian Bureau of Statistics, 6291.0.55.003 February 2016
- Last reviewed
- June 30, 2016
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