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The Australian Bureau of Statistics (ABS) posted the below image on Twitter (X), showing how the mining industry now uses more energy than any other industry in Australia, overtaking the manufacturing industry for the first time in 2022–23.
Notice above how the manufacturing industry’s energy use has declined for over a decade.
This makes sense, given that the manufacturing industry has shrunk from around 12% of GDP at the beginning of the century to just under 6%.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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