The Department of Mines and Petroleum has hailed Treasury figures that show a record $210 billion petroleum and mineral sales for 2020-21.
The Treasury stated Western Australia’s economy was the strongest of any State in Australia, growing by 5.7 per cent since the onset of COVID-19.
Minerals and petroleum sales grew by $38 billion to $210 billion from 2019-20 to 2020-21.
Premier, Mark McGowan said the remarkable results defied the economic turmoil seen around much of the world and emphasised the significance of the State’s work to keep the resources sector running safely throughout the pandemic.
Mr McGowan said Western Australia accounted for more than half (56.2 per cent) of national goods exports in 2020-21.
“WA is continuing to do the heavy lifting for the Australian economy, as we have throughout the pandemic,” he said.
“Our efforts to crush the virus quickly and keep our economy and mining industry open have not only benefited Western Australians, but the nation more broadly, with WA continuing to provide the largest per capita financial contribution to the Federation.”
The Premier said while the economies of the larger States were expected to contract given their extended lockdowns, the WA economy continued to punch well above its weight in supporting the nation.
“We resisted calls to shut down the resources sector at the height of the pandemic and these results demonstrate the significance of that decision,” he said.
“We have not only protected tens of thousands of Western Australian resources jobs, but created an additional 14,400 this financial year.”
Mr McGowan said the strong results would continue to power the national economy as the larger States worked to emerge from their extended lockdowns.
Further information on the performance of the State’s resources industry can be accessed at this PS News link.
