QRC's Economic Contribution Data
At the end of each financial year our members give us information on their spending for the year. This confidential company information is then used to build a uniquely detailed picture of Queensland’s largest export industry.
How does QRC track how much the industry spends?
Each year, the Queensland Resources Council (QRC) asks our members to open their books and give us information on their spending. What does industry spend and where? We take this confidential company information and build it up into a uniquely detailed picture of Queensland’s largest export industry.
This resource industry data allows us to track spending to the postcode level and show exactly how that benefits every corner of Queensland.
How are the numbers calculated?
Each year’s technical report explains the methodology, but to spare you the complex details, there are two main sources of information – direct and indirect.
- Direct spending are the actual financial records of QRC members – when they pay an invoice, each dollar is measured.
- Indirect figures are the result of careful economic modelling to estimate how much extra regional activity is generated by the direct spending.
So, if a resource company buys a new vehicle from the local caryard, (ie direct spending), then the car dealer has extra income (ie indirect spending). Similarly, when a resource employee is paid their wage (ie direct spending), they might use it to buy a new family car (ie indirect spending). We can’t collect data on the indirect spending, but it is very important to regional economies, so we estimate it. These estimates come from state-of-the-art economic modelling by our independent consultant.
Each year, QRC collects a full year of confidential industry spending data and then has an independent expert run detailed economic models. Read the Lawrence Consulting economic report to understand how the sector benefited every corner of the Queensland economy in 2015/16.
To view the Executive Summary of the 2015/16 report, click here.
View past reports
Access 2014-15 information
To view a detailed breakdown of how the resources sector contributed to Queensland in 2014-15, click here.