The latest ABS figures show there is global demand for the state’s expertise in education, telecommunications, computer and information (ICT) services, financial and other professional services.
Minister for Trade and Industry Niall Blair said the growth in service exports highlighted the NSW Government’s success in creating an entrepreneurial business environment.
Mr Blair said NSW has contributed to more than 50 per cent (52.3) of the total Australian growth in services exports, more than all the other states combined.
“In 2017 alone, our service exports grew in value by $3.6B. We have hit our 2020 target for international education exports three years early, surpassing $9B in exports.
“These figures, yet again, demonstrate the strength of the NSW economy and the global demand for our services.
“China remains Australia‘s largest market for service exports, with exports to China growing $15.8B.”
International education exports grew by 20.6 per cent to $11.3B, while ICT exports grew by 11.6 per cent last year to $2.3B. Financial services exports also grew by 5.6 per cent to $3.1B.
The ABS International Trade: Supplementary Information, Calendar Year, 2017 data is available on the ABS website.
Minister for Trade and Industry Niall Blair said the growth in service exports highlighted the NSW Government’s success in creating an entrepreneurial business environment.
Mr Blair said NSW has contributed to more than 50 per cent (52.3) of the total Australian growth in services exports, more than all the other states combined.
“In 2017 alone, our service exports grew in value by $3.6B. We have hit our 2020 target for international education exports three years early, surpassing $9B in exports.
“These figures, yet again, demonstrate the strength of the NSW economy and the global demand for our services.
“China remains Australia‘s largest market for service exports, with exports to China growing $15.8B.”
International education exports grew by 20.6 per cent to $11.3B, while ICT exports grew by 11.6 per cent last year to $2.3B. Financial services exports also grew by 5.6 per cent to $3.1B.
The ABS International Trade: Supplementary Information, Calendar Year, 2017 data is available on the ABS website.
