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December 2, 2021

Science contributes billions to economy

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Science contributes $145 billion to the Australian economy. (file pic)
Science contributes $145 billion to the Australian economy. (file pic)

Physics, chemistry, earth and mathematical sciences directly contribute about $145 billion a year to the Australian economy, according to a new report.

The research, commissioned by the Office of the Chief Scientist and the Australian Academy of Science, also shows when the flow-on effect is included the economic benefit can be more than double.

‘For the first time we now have the numbers on the table showing the importance of these sciences to the Australian economy,’ Australia’s chief scientist Professor Ian Chubb said.

‘It is too easy to take the benefits of science and innovation for granted, and this report shows that the knowledge from these disciplines supports and enhances economic activity which benefits all Australians.’

The figures include the economic benefits of discoveries and innovations implemented in the past 20 years.

 

 


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