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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.
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.