Regional Economic Snapshot

In 2021, the South West Region’s Gross Regional Product exceeded $15.4bn to set a new benchmark, accounting for 4.3% of WA’s Gross State Product (ABS National Accounts). An average annual estimated GRP growth rate of 4.7% was achieved in the years 2012-2022, with negative growth reported in 2012, 2013, 2015 and 2020.

The South West has a broad economic base with manufacturing, construction, mining, agriculture, tourism and timber processing key elements. There is a strong business and retail sector with an estimated 16,301 businesses in the South West. The main contributors to economic output in the region are Manufacturing (22.7%), Construction (14.5%) and Mining (13.2%).

Small and medium enterprises are the most significant employers with 3%of all businesses employing more than 20 staff. Most production in the region is small scale and relies on premium markets to generate return on investment. Marketing premium quality is the principle characteristic of South West competitiveness.