It’s long been anecdotally known that the transport industry employs a large number of people around Australia and is a significant contributor to the national economy, but until now the industry has not be quantified by hard data. That has just changed thanks to a new and experiment account of total transport activity just released by the Australian Bureau of Statistics.
The growing world of transport
The report counted not just only the transport industry but all the satellite industries that are connected to it to get a complete picture of what total transport activity is worth. For the financial year of 2015 to 2016, they comprise a mammoth $122.3 billion towards the gross domestic product (GDP), which is 7.3% of every dollar generated in Australia.
The transport industry by itself represents 4.6% of the GDP, accounting for $77 billion dollars generated. The remaining amount belongs to the companies and services that support the transport activities, such as maintenance providers and 3rd party component manufacturers and suppliers.
Interestingly enough, the ABS found that, when they broke the data out into how connected industries operate, they found that they use transport infrastructure a lot more than the transport industry itself. It makes sense when you think about it – the staff behind these allied industries have to drive to and from work too, and also need to ferry their goods between suppliers and outlets.
The construction sector took up the largest portion of related-industry usage of transport infrastructure, with $18.7 billion dollars worth of usage reported in the 2015-16 financial year. Following this are the agriculture, forestry and fishing industry which reach $9.8 billion and the mining industry which clocked $9.2 million dollars worth of transport use.
Accurately tracking this data is important for planning officials, as it helps them understand what new infrastructure projects need to be made, and which ones will have the greatest benefit to the largest number of users.
The financial figures, according to the ABS, have remained stable over time, suggesting that the overall transport industry is weathering the forces of market volatility better than some others.
The Drake Group is a proud part of the transport industry, as they have been designing, manufacturing and selling a wide range of heavy haulage trailers for over 60 years. Contact the locally owned and operated The Drake Group today to talk about their innovative trailers.