Data Alert: Financial sector – the largest contributor to Australia’s economy 19 January 2010 The financial sector is the largest contributor to Australia’s national output, employment and economic growth, generating more than 10 per cent of Australian output, according to the latest publication of Australian Bureau of Statistics (ABS) – Australian System of National Accounts.
Australia’s financial sector continues to grow more rapidly than most other sectors of the economy, benefiting from significant structural reforms and strong and resilient economic growth over the past two decades.
Australia has one of the most sophisticated and advanced financial sectors in the Asia-Pacific region. The sector has been underpinned by a highly skilled, multi-lingual labour force, world-class regulatory framework, and competitively-priced business infrastructure.
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