Australia: Open, prosperous and talented
Thanks to strong economic fundamentals and prudent economic management, our economy is expected to grow by 1.3% in 2023. We will again outpace other advanced economies, whose growth rates will average 1.2% in 2023.
Our workforce is talented, motivated and highly skilled. This drives our success in multiple technology-driven industries. Classified as a single industry, technology is now the third largest contributor to GDP in Australia.
Australia is well placed to become a renewable energy superpower. We have abundant solar and wind resources. We also have vast deposits of critical minerals, including lithium. Today, we are innovators right across the renewable energy supply chain. We are already the largest solar producer per capita in the world. And we have the resources, investment and patents to stay competitive.