The Department of Industry, Innovation and Science contributes to this vision by facilitating the growth and productivity of globally competitive industries. The department’s strategic plan targets supporting innovation, science and commercialisation, growing business investment, improving business capability and streamlining regulation. These areas are crucial to Australia’s future competitiveness.
The Australian economy is incredibly complex and interconnected. It comprises over 2.1 million firms, almost 11.7 million workers and produces around $1.6 trillion of output a year. How the economy performs depends on a wide range of domestic and international factors.
The Industry Monitor has been developed to provide a consolidated source of high-level data relevant to the portfolio’s interests and a general overview of the performance of Australian industry. International comparisons are made with selected economies at similar stages of development to Australia in order to provide context and benchmark Australia’s position.