How big is the construction industry in Australia, and how is it made up?
The construction industry can be broken down into the following main categories:
Residential construction,
Non-residential construction,
Construction services,
Civil construction, and
Utilities (Gas, Water and Waste)
In 2024 Australia’s Gross Domestic Product (GDP) is $2.67 trillion or $2,670,000,000,000. Hard to wrap your head around those type of numbers. Put it this way – don’t try and count to it!
The construction industry contributed $0.20 trillion – doesn’t sound like much – but that is good for 8.8% of Australia’s economy.
By the way, these figures come from the Australia Bureau of Statistics National Accounts for the financial year 2023-2024.
https://www.abs.gov.au/statistics/economy/national-accounts