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How big is the construction industry in Australia?
Construction in Australia is the third largest industry in the country due to the number of people it employs annually, and this is reflected in the GDP (Gross Domestic Product) of the country.
This Industry focuses on the construction, demolition, renovation, maintenance, or repair of any type of infrastructure, whether residential or commercial and covers an innumerable number of services related to activities required, from land preparation to final finishes on internal and external structures. The construction industry generates more than $360 billion in revenue a year. According to the AISC (Australian Industry and Skills Committee), it has a projected annual growth rate of 2.4% over the next five years.
Employment Level and Projection
According to the Australian Industry and Skills Committee, in the next 5 years Construction Industry is growing up as the pictures show:
From: Construction | National Industry Insights Report (aisc.net.au)
The industry contributes almost 9% to the growth of the domestic product (GDP). Construction companies include public and private sector agencies, these are the engine of economic activity in the country. With almost 330,000 agencies from the two sectors and a figure of one million people working in the construction sector in Australia. Due to its predicted growth in the country, this industry is projected as one of the largest in the country for the next 5 years.
Construction Agencies
Construction agencies in Australia provide the necessary infrastructure and materials for the country’s industries. All construction agencies base their activities on considering government policies in the different areas that are part of the process. The activity of these agencies depends to a large extent on the availability of resources, which include construction materials, construction equipment and trained personnel. These agencies cover these three sectors in the country:
- Structure of residential buildings.
- Non-residential buildings.
- Engineering Construction.
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