Burdekin economy beginning to grow

The Burdekin Shire’s economy has shown solid growth over the past six months.

Figures from REMPLAN, an independent economic think tank, show our annual output* grew 8.4 per cent from $2.1 billion to $2.3 billion from April to August.

Of the 19 industry sectors in the Burdekin, 12 increased their output, six were unchanged and only one industry declined.

The stand-out sectors were manufacturing (up $64 million to $781 million) and agriculture, forestry and fishing (up $38 million to $426 million).

Our retailers are also growing with the retail trade showing an improvement of $6 million to $87 million.

Other industries to grow were rental, hiring and real estate services (up $24 million), construction (up $12 million), financial and insurance services (up $6 million).

Only the mining sector declined in value with a reduction of output by $2 million.

Mayor Bill Lowis said these figures supported Council’s focus on the economic development of the Shire.

“We are very happy to see this initiative starting to bear fruit and this improvement can only continue with strategic economic development,” he said.

“Our strategy to boost the liveability in our shire is to attract investment, encourage innovation, strengthen networks, enable economic infrastructure and empower future generations.

“We are making progress and this will benefit all who live in this Shire.”

 * these figures show output, not profitability.

 

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