At this link is a ten-page paper entitled Structural Change in the Australian Economy. It makes for interesting reading if you care about the role and contributions of mining to the Australian economy. Here is just one paragraph that sums it up:
Over the past 50 years, the mining industry’s share of nominal output has fluctuated considerably, but has trended higher to be about 8 per cent in 2009/10, up from 2 percent in the 1960s. Investment in the mining industry has also risen from around 5 percent of total investment in the 1960s to around 19 percent in 2009.10, well above the peaks in the previous mining booms in the early 1970s and the early 1980s. Notwithstanding this rise, the mining industry’s share of employment has remained relatively small, reflecting its high capital intensity. The mining boom over recent years has also had effects on other industries. In particular, output and employment in the construction industry have grown solidly, reflecting strong demand for mining-related construction. There has also been a shift in the composition of the manufacturing industry towards mining-related manufacturing and away from import-competing manufactures.
Other interesting snippets:
- Mining exports account for around half of Australia’s export.
- Modern mining booms have been much less labor intensive than in the late 1906s.
- The mining booms in Western Australia and Queensland have lead to major structural changes in the economy of those states relative to the south-eastern states.
Surely that is enough for you to be prompted to go to the link and read the rest. Or at least read a longer summary at this blog.