which are the major industries in melbourne (1)

Which Are The Major Industries In Melbourne?

It's no secret the job landscape is changing, and it has been for some time now. While some industries reduce their need for employers, some are thriving with new career opportunities. So we've put our research caps on and pulled together some key growth forecasts to help you make an informed decision about your future.

The Healthcare Industry

If you'd like to make a real difference in your career, then working in the healthcare industry could be perfect for you. It's said that employment in the health sector is expected to increase by 16.1% or 250,000 jobs(external link) by 2022. To break it down for you, our population continues to age, but it's also increasing to grow. So with more elderly and children in the world, we have a demand for care services across the country.

Industry includes:

  • Ambulatory Health Care Services
  • Hospitals
  • Nursing and Residential Care Facilities

Social Assistance

The Professional, Scientific And Technical Services Industry. This is a huge industry(external link) with over one million workers. The industry covers legal and accounting services, veterinary services and computer system design. So many people who work in this industry have a university degree (or two).

The professional, scientific and technical services industry will increase by 12.5% or 126,400 jobs(external link) by 2022. So if you're looking for a career where you never stop learning, you should consider a career in the professional, scientific and technical services industry. Check out our computer and IT courses, engineering and science courses, accounting and business courses, or law and justice courses.

Industry includes:

  • Legal and Accounting Services
  • Veterinary Services
  • Computer System Design

Education And Training

Can you imagine yourself standing at the front of 20 or so young, influential minds, holding on to your every word? Moulding the minds of the future is an incredibly important career – one with increasing demand. With a growing population, the education industry is on the rise(external link), said to increase by 12% or 116,200 jobs in the next five years.

If teaching isn't your idea of a fulfilling career, there's also demand for non-teaching staff in the industry. The world is continually changing. Remember to always stay on top of your industry's news and always say yes to opportunities that come your way that can add to your skillset.

Retail Trade

Retail trade ranks second in high-demand occupations in Australia, employing over 1.2 million people. Expected employment growth is more than 45 thousand or 3.7 per cent in five years. Part-time work is common, and jobs don't require post-school qualifications.

Industry includes:

  • Food Retailing including Supermarkets
  • Motor Vehicle, Parts, and Fuel Retailing
  • Other Store-based Retailing

Professional, Scientific, And Technical Services

The expected employment growth is over 126 thousand or 12.5 per cent in five years. Most jobs are full-time, located in capital cities, and require a university degree.

Industry includes:

  • Legal and Accounting Services
  • Veterinary Services
  • Computer System Design

Education And Training

The expected growth in employment for this field is over 116 thousand or 12 per cent in five years. Most jobs require a university degree, but lower-skilled jobs like Teacher's Aide can provide an entry.

Industry includes:

  • Preschool Education
  • School Education
  • Tertiary Education
  • Other Education

Manufacturing

Though expected to experience employment layoff of over 38 thousand or 4.2 per cent in five years, manufacturing still ranked sixth for the future jobs in Australia. Most workers are men. Most of them are full-time employees, but part-time jobs are becoming a trend. Most jobs require VET, and apprenticeship is a common entry point.

Industry includes:

  • Food and Beverages
  • Petroleum and Coal
  • Polymer Products
  • Machinery
  • Furniture

Accommodation And Food Services

More than 97 thousand or 11.2 per cent is the expected employment growth in this sector in five years. Moreover, this industry provides good entry-level and part-time jobs, making it an attractive option for young people who want to work and study.

Industry includes:

  • Hotels
  • Motels
  • Cafes
  • Restaurants
  • Take-Away Shops
  • Bars and Pubs

Public Administration and Safely

This industry's expected growth in employment is 75 thousand or 9.3 per cent in five years. Most jobs require either a VET or a university degree. Some jobs are male-dominated, and part-time work is rare.

Industry includes:

  • Federal, State, and Local Government Administration
  • The Defence Force
  • Services like police Force that Enforce Rules and Public Order

Transport, Postal, and Warehousing

The expected growth in employment for this industry is more than 40 thousand or 6.5 per cent in five years. Most of the workers are male and employed full-time. However, opportunities for lower workers are also present, with almost half of all workers not completing post-school education.

Industry includes:

  • Road Transport
  • Rail Transport
  • Water Transport
  • Air and Space Transport
  • Other Transport
  • Postal and Courier Pick-Up and Delivery Services
  • Transport Support Services
  • Warehousing and Storage Services

Other Services

This diverse industry's expected growth in employment is more than 12 thousand or 2.5 per cent in five years. There are many full-time job opportunities for young people, and most jobs require apprenticeship or traineeship.

Industry includes:

  • Laundry
  • Hairdressing
  • Day Spa
  • Funeral and Religious Services
  • Car Repair and Maintenance
  • Other Machinery Repair Services

FAQ's About The Major Industries In Melbourne

The largest contributor to annual economic output in Victoria is Manufacturing, which represents 20.42 per cent of total output. The area in Victoria generating the most output is Melbourne City, and the largest industry here is Financial & Insurance Services.

The Biggest Industries by Revenue in Australia

  • Superannuation Funds in Australia.
  • Health Services in Australia.
  • Consumer Goods Retailing in Australia.
  • Iron Ore Mining in Australia.
  • National and Regional Commercial Banks in Australia.
  • Supermarkets and Grocery Stores in Australia.
  • Public General Hospitals in Australia.

Land boom and bust
During this "land boom", Melbourne reputedly became the richest city globally and the second-largest (after London) in the British Empire.

There are four types of industry. These are primary, secondary, tertiary and quaternary. The primary industry involves getting raw materials, e.g. mining, farming and fishing. The secondary industry involves manufacturing, e.g. making cars and steel.

Seventeen of 18 manufacturing industries reported growth in July, in the following order: Furniture & Related Products; Printing & Related Support Activities; Apparel, Leather & Allied Products; Miscellaneous Manufacturing; Computer & Electronic Products; Nonmetallic Mineral Products; Machinery; Fabricated Metal.

Related information. Primary industries harvest or extract raw material from nature, such as agriculture, oil and gas extraction, logging and forestry, mining, fishing, and trapping.

The following are common examples of manufacturing industries.

  • Transportation. Transportation equipment and vehicles.
  • Fast Moving Consumer Goods.
  • Electronics
  • Chemical Industry.
  • Pharmaceutical Industry.
  • Paper Industry.
  • Printing & Publishing.
  • Industrial Equipment.

Major Industries In Australia

If we are talking about Major Industries in Australia, we need to start with the Economic of Australia. The Australian economy is a highly developed mixed economy. Its GDP was estimated at AUS1.89 trillion as of 2019. In 2018 Australia became the country with the largest median wealth per adult but slipped back to second highest after Switzerland in 2019.

Industries

which are the major industries in melbourne (2)Although the primary manufacturing industry is one of the major industries in Australia, manufacturing in Australia is still a significant industry. Manufacturing accounted for 48% of exports and 45% of Australian research and development. With 40% going to the textile, clothing and footwear industry and the passenger motor vehicle industry, the manufacturing industry. Again, manufacturing accounted for 48% of exports and 45% of Australian research and development.

The food and beverage manufacturing industry are the largest in Australia. It consists of

  • Meat and meat products,
  • Beverage and malt manufacturing,
  • Dairy products,
  • Sugar and confectionery manufacturing,
  • Fruit and vegetable processing,
  • Bakery products,
  • The flour mill and cereal food manufacturing,
  • Oil and fat manufacturing,
  • Seafood processing.

As of 2010, 3 companies started manufacturing cars in Australia: GM-Holden, Ford and Toyota. Holden bodyworks are manufactured at Elizabeth, South Australia and engines are produced at the Fishermen's Bend plant in Port Melbourne, Victoria. In 2006, Holden's export revenue was just under 00 million. Ford has two main factories in Victoria: located in the Geelong suburb of Norlane and the northern Melbourne suburb of Broadmeadows. Until 2006, Toyota had factories in Port Melbourne and Altona, Victoria. Since then, all manufacturing has been at Altona.

Mining

Mining in Australia is a significant primary industry and contributor to the Australian economy. Historically, mining booms have also encouraged immigration to Australia. Throughout Australia, many mines of different ores and minerals can be found. This contributes to huge growth for Major Industries in Australia.

Gold rushes

In 1851, gold was found near Ophir, New South Wales & the newly established colony of Victoria. Australian gold rushes, in particular the Victorian Gold Rush, had a major lasting impact on Victoria and Australia as a whole. The influx of wealth that gold brought soon made Victoria Australia's richest colony by far and Melbourne the island's largest city. By the middle of the 1850s, 40% of the world's gold was produced in Australia. In addition, Australia's population changed dramatically as a result of the gold rushes: in 1851, the population was 437,655, and a decade later it was 1,151,947; the rapid growth was predominantly a result of the new chums (recent immigrants from the United Kingdom and other Commonwealth states) who contributed the 'rush'.

Although most Victorian goldfields were exhausted by the end of the 19th century, and although much of the profit was sent back to the UK, sufficient wealth remained to fund substantial development of industry and infrastructure.

Minerals and resources

Large quantities of minerals and resources are available in Australia. This Mines & Mineral helps the Major Industries in Australia to grow. These include:

  • Iron ore – Australia was the world's third-largest supplier in 2008 after China and Brazil, supplying 342 million metric tonnes.
  • Nickel – Australia was the world's second-largest producer in 2006 after Russia. Bauxite/aluminum
  • Copper
  • Gold – Australia is the second-largest producer after China.
  • Silver
  • Uranium – Australia is responsible for 16% of the world's production and was the world's third-largest supplier in 2009 after Kazakhstan and Canada.
  • Diamond – Australia has the third largest commercially-viable deposits after Russia and Botswana
  • Opal – Australia is the world's largest opal producer, being responsible for 95% of production.
  • Coal – Australia is the world's largest exporter of coal and the fourth-largest coal producer behind China, the USA and India.
  • Oil shale
  • Petroleum – Australia is the twenty-eighth largest producer of petroleum
  • Natural gas
  • Rare earth

Much of the raw material mined in Australia is exported overseas to countries such as China for processing into a refined product. For example, energy and minerals constitute two-thirds of Australia's total exports to China, and more than half of Australia's iron ore exports are to China.

Coal

Every state of Australia has coal mines. The most common purpose of to generate electricity and is export. Australia export 75% of the coal they produce, mostly to eastern Asia. In 2000/01, 258.5 million tonnes of coal was mined, and 193.6 million tonnes were exported, rising to 261 million tonnes of exports in 2008–09. Coal also provides about 85% of Australia's electricity production. Australia is the world's leading coal exporter.

Uranium

Uranium mining in Australia began in the early 20th century in South Australia. Australia contains 23% of the world's proven estimated uranium reserves. However, in recent decades opposition to uranium mining in Australia has increased, resulting in many government inquiries into its extraction. The three largest uranium mines in the country are Olympic Dam, Ranger Uranium Mine and Beverley Uranium Mine. In addition, two more uranium mines Honeymoon Uranium Mine & Four Mile Uranium Mine, started functioning.

Gas

Based on the 2008 CSIRO report, Australia is estimated to have stranded gas reserves with about 140 trillion cubic feet or enough to fulfil the needs of a city with one million people for 2,800 years.

Economy

Many large multinational mining companies, including BHP Billiton, Newcrest, Rio Tinto, Alcoa, Chalco, Shenhua (a Chinese mining company), Alcan and Xstrata, operate in Australia. There are also a lot of small mining and mineral exploration companies listed on the Australian Stock Exchange (ASX). Overall, the resources sector represents almost 20% of the ASX market by capitalisation and almost one-third of the companies listed.

Mining contributes about 5.6% of Australia's GDP. This is up from only 2.6% in 1950, but down from over 10% at the time of federation in 1900. In contrast, mineral exports contribute around 35% of Australia's exports. Australia is the world's largest exporter of coal (35% of international trade), iron ore, lead, diamonds, rutile, zinc and zirconium, second largest of gold and uranium, and third largest of aluminium.

Japan was the major purchaser of Australian mineral exports in the mid-1990s. Of the developed countries, perhaps only in Canada and Norway does mining play as significant a part in the economy; for comparison, in Canada, mining represents about 3.6% of the Canadian economy and 32% of exports, and in Norway, mining, dominated by petroleum, represents about 19% of GDP and 46% of exports. By comparison, mining in the United States contributes about 1.6% to its GDP. Despite its export importance, the mining sector employs only a small proportion of the workforce – roughly 129,000 Australians, representing only about 1.3% of the total labour force.]

Biggest Industries By Revenue In Australia In 2021

State Government Administration In Australia

Revenue for 2021: $274.1B

The State Government Administration industry comprises the eight state and territory governments across Australia. Under the Australian Constitution, state and territory governments are responsible for everything that is not a Federal Government responsibility. This includes, but is not limited to, schools, hospitals, roads and railways. This report includes all actions that state and territory governments undertake. As a result, it double counts key information with other industries in Australia. For example, teachers employed in government schools in Australia are included as employees in the State Government Administration industry and the Government Schools industry. State and territory

Finance In Australia

Revenue for 2021: $186.6B

Due to falling interest rates, the Finance subdivision's operating environment has been challenging over the past five years. Residential property prices have risen over the period, supporting demand for mortgages. However, volatile business confidence over the period has limited growth in capital expenditure from the private sector and overall demand from commercial clients. Overall, subdivision revenue is expected to decline at an annualised 2.2% over the five years through 2021-22, to $186.7 billion. However, subdivision revenue is anticipated to rise by 1.9% in 2021-22, as most operators have closed deferrals on loan repayments during the COVID-19 pandemic.

Professional Services In Australia

Revenue for 2021: $173.3B

The Professional Services subdivision provides various professional, scientific and technical services to a range of markets. The subdivision's performance is largely linked to overall economic conditions, determining business confidence and capital expenditure. Before the COVID-19 outbreak, technology development and greater business profit drove growth across the subdivision. Over the three years through 2018-19, accounting and management consultants benefited from downstream businesses looking to improve efficiencies as increased globalisation constrained profit margins. The COVID-19 pandemic has negatively affected the subdivision's largest industries, including the Engineering Consulting industry, the Management Consulting industry and Accounting Services industry. 

Superannuation Funds In Australia

Revenue for 2021: $167.3B

Australia's superannuation system underpins the nation's retirement income system. Three pillars make up the pension system: a means-tested age pension, compulsory super contributions and voluntary savings. From 1 July 2021, the Superannuation Guarantee scheme requires employers to contribute an amount equal to 10.0% of an employee's income to the employee's choice of superannuation fund. This system has supported the Superannuation Funds industry over the past five years, which is expected to be one of the largest pension systems in the world.

Industry revenue is expected to fall at an annualised 8.1% over the five years through 2021-22, to $167.4 billion.

Health Services In Australia

Revenue for 2021: $162.4B

which are the major industries in melbourne (3)

The Health Services subdivision includes a range of health services and facilities. General hospitals are the subdivision's largest revenue driver, accounting for over half of Australia's health services revenue. General practitioners, clinical specialists and dentists also represent significant revenue streams for the subdivision. Australia's growing ageing population has generated strong demand for health services over the past five years. However, the outbreak of COVID-19 in early 2020 has limited subdivision expansion, as health services have redirected resources to containing the virus. Consequently, subdivision revenue is expected to grow at an annualised 1.5% over the five years through 2020-21, to $162.5.

Consumer Goods Retailing In Australia

Revenue for 2021: $150.0B

The Consumer Goods Retailing subdivision has been subject to difficult retail conditions over the past five years. The COVID-19 pandemic has caused economic uncertainty and limited trading in several Australian states for extended periods. However, the pandemic has also prevented many consumers from spending money on hospitality and travel, allowing higher income to be spent on consumer goods. As a result, the subdivision has posted modest growth over the past five years.

Subdivision operators have contended with growing competition from online-only retailers, as consumers have become increasingly comfortable making online purchases over the past five years, particularly during the COVID-19... Learn More

Iron Ore Mining in Australia

Revenue for 2021: $128.6B

The Iron Ore Mining industry has benefited from major increases in iron ore prices and small increases in production volumes over the past five years. As a result, industry revenue is expected to increase at an annualised 13.5% over the five years through 2021-22, to total $141.1 billion. This strong revenue growth is due to demand strength from China, and despite the COVID-19 pandemic from late 2019-20 through part of 2021-22. However, the high revenue growth trend includes an anticipated 15.3% fall in the current year due to weaker iron ore prices and higher global output.

National and Regional Commercial Banks in Australia

Revenue for 2021: $123.2B

Revenue for the National and Regional Commercial Banks industry has declined over the past five years as the cash rate has fallen to record lows. Consistent cash rate cuts over the past five years, to a record low of 0.10%, have reduced industry revenue despite growth in lending volumes. In addition, banks have increased interest rates on various mortgage and business lending products out-of-cycle at times over the period due to higher capital adequacy requirements and tighter lending standards to maintain margins. However, this trend has been more than offset by falling interest rates over the period.

Supermarkets And Grocery Stores In Australia

Revenue for 2021: $121.5B

The Supermarkets and Grocery Stores industry is one of Australia's most fiercely competitive industries. While price-based competition has decreased over the three years through 2020-21, the continued expansion of ALDI and Costco has forced the two established industry giants, Woolworths and Coles, to remain price-competitive. Coles and Woolworths have increasingly focused on improving customers' shopping experience through store refurbishments and increased online shopping capabilities to differentiate themselves from low-cost supermarkets. These major players rely on loyalty programs and promotions rather than discounts.

Public General Hospitals In Australia

Revenue for 2021: $77.6B

The Public General Hospitals industry has grown over the past five years. Public hospitals are primarily funded through federal and state governments, with private health insurance and other non-public revenue sources expected to account for less than 10.0% of industry funding in 2020-21. Demand for general public hospitals has surged over the past five years, primarily due to Australia's ageing population and the rising incidence of chronic illness among adults. As a result, industry revenue is expected to increase at an annualised 1.8% over the five years through 2020-21, to $77.7 billion. This includes anticipated revenue growth of 2.1% in the current year.

Conclusion:

Australia took the record for the longest run of uninterrupted GDP growth in the developed world with the March 2017 financial quarter, the 103rd quarter. It marked 26 years since the country had a technical recession (two consecutive quarters of negative growth).

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