Western Australia remains the powerhouse of the Australian economy having experienced the highest economic growth rate of all states and territories in 2009/10, with 4.3 per cent. Regional Western Australia produces 97 per cent of Australia’s iron ore, 89 per cent of crude oil and condensate, 71 per cent of natural gas and 63 per cent of alumina, as well as all its diamonds and nickel.
For the fourth successive year, Western Australia’s population increased at a faster rate than in any other Australian state or territory, growing by 2.2 per cent, producing an estimated resident population of 2.3 million at 30 June 2010.
The rapid economic growth occurring in regional Western Australia is creating increased demand for housing and services. The State Government is acting to ensure the social and economic needs in the regions are addressed as a priority. The state’s strong economic performance and population growth create opportunities for investment and innovation across industries and regions.