Its about 17 billion in tax revenue a year, so yes a blip in the ocean of our GDP and tax revenue total, @CheckRaiseFold why is there such emphasis on China as a trade partner for our commodities when it is insignificant as you say and as the GDP breakdown shows?
Quite scary when you look at the breakdown of AUS GDP
Here's a more detailed breakdown of Australia's GDP by sector in 2022: Services: 63.3% Industry: 27.48% Agriculture: 2.68% Other sectors: Construction, Mining and Manufacturing (around 5% of GDP)
Makes AUS look in an even worse shape than I originally thought if we consider our economy around services.
The GDP service sector, also known as the tertiary sector, refers to the part of the economy that provides services rather than producing goods This includes activities like banking, insurance, healthcare, education, hospitality, tourism, transportation, retail, and professional services
Just finding the breakdown, from the above listed industries in the services sector it nearly all revolves around housing and population growth (very scary if that all we have left over time)... I suppose the silver lining is that none of this is possible without cheap & reliable energy.
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