Economy of Western Australia

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Economy of Western Australia

Mount Tom Price mine: Iron-ore is the state's leading export commodity
Currency	Australian dollar
Statistics
All values, unless otherwise stated, are in US dollars.

The Western Australian economy is a state economy dominated by its resources and services sector and largely driven by the export of iron-ore, gold, liquefied natural gas and agricultural commodities such as wheat. Covering an area of 2.5 million km², the state is Australia's largest, accounting for almost one-third of the continent. Western Australia is the nation's fourth most populous state, with 2.6 million inhabitants (11% of the national population).^[1]

In 2011, Western Australia provided 46% of Australia's merchandising exports.^[2] In 2018-19, Western Australia's gross state product was A$260.6 billion (17.5% of Australia's GDP),^[3] making it the nation's most productive state, and one of the most wealthy places on earth with a GDP per capita of A$135,479 (compared with the national average of A$74,605).^[4] In 2018-19, Western Australia exported A$147.1 billion worth of goods and imported A$34.1 billion, creating a trade surplus of A$112.95 billion. This is in contrast to the national trade deficit of A$70.5 billion.^[5]