< State of the Marine Environment report released
28.03.2017 23:53 Age: 262 days
Category: Home Slider

74.2 billion reasons to observe Australia’s ocean estate

The latest AIMS Index of Marine Industry was released on 17 March by Senator the Hon Arthur Sinodinos, Minister for Industry, Innovation, and Science.


Image credit: Bruce Miller, CSIRO science image

The rationale for establishing an Integrated Marine Observing System (IMOS) in 2006 was based on very strong social, economic, and environmental drivers.  Australia has a vast and valuable marine estate, and the greatly enhanced ocean data, information, and knowledge available through IMOS should impact positively on our nation’s ‘triple bottom line’.
 
The Australian Institute of Marine Science (AIMS) has been measuring economic value of marine industries on a biennial basis since 2008.  The latest AIMS Index of Marine Industry was released on 17 March by Senator the Hon Arthur Sinodinos, Minister for Industry, Innovation, and Science.  Full details can be found here.
 
The headline news is that Australia’s marine industries contributed $74.2 billion to the national economy in 2013-14.  This accounts for 4.8 per cent of national Gross Domestic Product and directly and indirectly provides almost 400,000 jobs.  The Minister noted that Australia’s blue economy “has made a significant contribution to the nation’s prosperity and is increasingly recognised around the world as a high value, high potential growth sector”.
 
Up from $47 billion in 2011-12, these numbers clearly demonstrate the growing importance of the blue economy to Australia’s future.
 

“Understandably, Australian Government is looking for publicly funded research to underpin new jobs and economic growth” says IMOS Director, Tim Moltmann.  “IMOS has worked hard to position itself as being relevant to marine industries in an Australian context.  We have many success stories.  These new numbers provide important economic and societal context for what we need to do into the future.  They help us to quantify the return on future investment in IMOS.”