Advances in communications technologies are transforming Australia’s economy, according to new research by the Department of Infrastructure, Transport, Regional Development and Communications’ Bureau of Communications and Arts Research (BCAR).
The Bureau said its research and statistical working paper, Measuring the digitalisation of Australia’s economy 2012–13 to 2016–17, provided experimental estimates to gauge the economic contribution of three measures of digitalised activities – the Internet of Things (IoT) activity, information and communications technology (ICT) activity and digital activity.
BCAR said the analysis showed that digitalised goods and services played a significant and growing role in Australia’s economy.
“Digital activity, which includes ICT and IoT activity, contributed $119 billion, or seven per cent to Australia’s economy in 2016–17,” the Bureau said.
“ICT activity contributed $86 billion and IoT activity contributed $74 billion,” it said.
“IoT activity includes goods or services that enable an internet connection between physical objects, such as sensors and software publishing services.”
The Bureau said growth in digitalised activities outpaced growth in the economy overall between 2014–2015 and 2016–2017.
“This is consistent with technological advances, which have seen a transition towards goods and services that are digitally-enabling, such as computer system design and telecommunications services,” it said.
BCAR said the analysis provided a new measure of digitalisation which built on past work by the United States Bureau of Economic Analysis and the Australian Bureau of Statistics.
The Bureau’s 84-page statistical working paper can be accessed at this PS News link.
