New research released by SGS Economics & Planning (SGS) reveals that Sydney and Melbourne are driving the national economy, while regional areas are languishing. During 2015-16, 67.0 per cent of national Australian Gross Domestic Product (GDP) growth was generated in Sydney and Melbourne – the highest level on record.
- In 2015-16, the GDP of Adelaide grew by 1.6 per cent and per capita growth was 0.8 per cent.
- Health Care (0.5 percentage), Public Administration (0.4 percentage) and Construction (0.3 percentage) were the largest growth industries.
- Manufacturing (-0.4 percentage points), Transport (-0.2 percentage points) and Mining (-0.2 percentage points) were all drags on Adelaide’s economy.
- Manufacturing has significantly decreased its share of Adelaide’s GDP over the past two decades, from 16.6 per cent to 6.2 per cent of GDP.
- Regional South Australia grew by 2.9 per cent, 90 per cent of which came from increased Mining production.