TRANSPORT & LOGISTIC EQUIPMENT

New data underscores 'economic significance' of logistics sector

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Government, industry must focus on improving national supply chain efficiency, says Michael Kilgariff. - Image Source: ATN
Government, industry must focus on improving national supply chain efficiency, says Michael Kilgariff. - Image Source: ATN

A one per cent increase in productivity in the logistics sector will increase Australia's GDP by $2 billion – that's the attention-grabbing statistic to emerge from a new report titled The Economic Significance of the Australian Logistics Industry.

The report details the importance of the logistics industry to Australia and has revealed it as a key contributor to the nation’s wealth.

It says the industry adds $131.6 billion (or 8.6 per cent of GDP) to the economy annually, is responsible for employing 1.2 million people and that improving its productivity will reap dividends.

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Source: ATN
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