The importance of advanced physical and mathematical sciences to the Australian economy

This analysis found that the advanced physical and mathematical sciences – physics, chemistry, maths and Earth sciences – directly and indirectly:

• account for 22.5% of Australian economic activity, or around $292 billion per year
• provide 7% of total Australian employment (about 760,000 jobs in 27,000 businesses)
• generate 28% of our exports, or about $74 billion per year.

In addition, the parts of the Australian economy based on advanced physical and mathematical sciences have:

• grown at an average of 3.5% per year in the past decade, compared to an average of 3% per year for the Australian economy overall
• delivered productivity (gross value added per worker) double that of the economy as a whole.

This report was commissioned by the Office of the Chief Scientist and the Australian Academy of Science and prepared by economists from the Centre for International Economics. It is accompanied by a second report that focuses on the biological sciences, as well as a synthesis report that combines insights from all core sciences.

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