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 Sydney’s GDP was $400.9 billion and represented 24.1 per cent of national GDP.
• Sydney’s 4.5 per cent GDP growth rate was the highest since 1999-2000 and the third highest on
• record.
• Sydney contributed 38.6 per cent of GDP growth, the highest since 1991-92.
• The construction industry’s contribution (0.7 percentage points) to Sydney’s GDP growth was the
• highest on record.
• Financial services share of Sydney’s economy is at a record high of 16.0 per cent.
• Manufacturing share of Sydney’s economy is at a record low of 5.7 per cent.
• Sydney’s labour productivity grew faster (1.2 per cent) than the national average (1.0 per cent) and is now at a record high of $90 per hour worked.
• Sydney’s GDP per capita of $80,000 is $10,600 higher than the national average – the highest margin since 2004-05.
• Sydney’s GDP per capita is $32,200 higher than Regional NSW, this is the highest on record.
• Regional NSW GDP grew by 0.4 per cent, an improvement from the 0.0 per cent in 2014-15.
• Regional NSW GDP per capita has fallen 4.3 per cent since 2011-12.