Western Australian economy

WHAT ARE THE MAIN GOODS AND SERVICES PROVIDED BY THE WA ECONOMY:


The Western Australian economy is largely based around the export of mining and petrolium commodities especially iron, alumina, natural gas, nickel, and gold.

WHICH REGIONS PRODUCE WHAT KIND OF GOODS AND SERVICES:

KIMBERLEY: Broome has a expanding pearling industry which operates around the Kimberley coast. Some of the leading farmers of them in the Kimberley are Paspaley pearls, Clipper pearls, Broome pearls and Willie creek pearl farm. One third of the worlds annual diamond production comes from the Argyle and the Ellendale diamond mines. Oil is taken from the Blina oil fields and gas might be taken from offshore sources soon. Zinc and Lead are taken from Pillara, Sallay Mallay and Cadjebut mines near Fitzroy Crossing.



PILBARA: The Pilbaras economy is dominated by the mining and petrolium industries. Most of Australias iron ore comes from the pilbara region with mines mainly centred around Tom Price and Newman. The iron ore industry employes around 9000 from the pilbara area. The Pilbara area is also a tourist hotspot with attractions such as karijini and Millstream-Chichester national parks, Dampier Archipelago and the Ningaloo Reef.



GOLDFIELDS: The economy of the goldfields is heavily based around agriculture and Fishing with wheat and barley being widely grown however this requires huge inputs of fertiliser.



SOUTHWEST: The economy of the southwest is very diverse. It is a major world producer of alumina and minerals, and also has substantial Agriculture, Timber, and Viticulture industries. It is also WA's biggest tourist spot outside Perth.



WHAT ARE THE STRENGTHS AND WEAKNESSES OF THE ECONOMY:

Some strengths of the economy are how advanced we are in the mining industry, the fact that WA is ranked 2nd nationwide in average full time income with $61,622 being the average full time income just behind the ACT, The fact that we have quite a significant fishing industry helps the Western Australian cause. The fact that property values have risen can be a good and bad thing for the economy because its good for property owners but bad for property buyers. Some weaknesses of the WA economy is lack of labour workers meaning that we dont hav enoough people to work in skilled areas, and our unemployment rate which is still relativley high.