Biggest Industries by Revenue in Australia in 2025

1. Finance in Australia

Revenue for 2025: $422.9B

The Finance sector's operating environment has characterised by record low interest rates and market turbulence over most of the past five years. A strong residential property market supported by housing price growth and high numbers of house transfers have supported the incomes of many lenders. Yet, volatile business confidence and inflationary pressures have limited growth in capital expenditure from the private sector and overall demand from commercial clients. Competition from neobanks and other fintech disruptors has spurred some larger financial firms to invest in new capabilities in the online space. Overall, sector revenue is expected to decline at an... Learn More

2. State Government Administration in Australia

Revenue for 2025: $365.4B

The State Government Administration industry is made up of the eight state and territory governments across Australia. Under the Australian Constitution, state and territory governments are responsible for everything that is not a Federal Government responsibility. This includes, but is not limited to, schools, hospitals, roads and railways. This report includes all actions that state and territory governments undertake. As a result, it double counts key information with other industries in Australia. For example, teachers employed in government schools in Australia are included as employees in both the State Government Administration industry and the Government Schools industry. State and territory... Learn More

3. Professional Services in Australia

Revenue for 2025: $324.5B

The Professional Services subdivision provides various professional, scientific and technical services to a range of markets. The subdivision's performance is largely linked to overall economic conditions, which often determine business confidence and capital expenditure. Over the past five years, greater business profit, rising capital expenditure by the public sector and mostly positive business confidence have supported subdivision demand. However, the COVID-19 pandemic has disrupted several industries in the Professional Services subdivision, weighing on its performance. In particular, demand for architectural services, and surveying and mapping services fell over the years following the COVID-19 pandemic, as many construction projects were delayed... Learn More

4. Superannuation Funds in Australia

Revenue for 2025: $289.3B

Significant global market volatility has affected invest incomes for superannuation funds in recent years. The initial COVID-19 outbreak and subsequent economic uncertainty, including inflationary pressures, saw revenue for funds fluctuate dramatically. Superannuation fund revenue is expected to increase at an annualised 0.7% over the five years through 2022-23, to total $230.1 billion, although the period has seen significant volatility. Superannuation fund's total assets are a more accurate indicator of the industry's size, with assets expected to grow at an annualised 3.4% over the same period, to $3.5 trillion. Continued incremental increases to the Superannuation Guarantee Scheme have boosted contributions to... Learn More

5. Consumer Goods Retailing in Australia

Revenue for 2025: $246.9B

The Consumer Goods Retailing subdivision has faced an unpredictable retail landscape. Most notably, the COVID-19 pandemic has triggered vast economic uncertainties and intermittent trading restrictions. Yet, these challenging circumstances have also spurred unexpected growth. Amid travel bans and closed eateries, consumers have shifted their expenditure from hospitality and travel to retail consumer goods. This transition has helped boost our subdivision's revenue at an annualised rate of 2.2% over the past five years, reaching an anticipated $239.0 billion by 2023-24. Still, with COVID-19 restrictions now lifted and consumption patterns rebounding, a 4.7% revenue drop is expected in 2023-24. High inflation and... Learn More

6. National and Regional Commercial Banks in Australia

Revenue for 2025: $231.3B

Banks are grappling with a transition from years of loose monetary policy to tighter financial conditions. Soaring inflation has prompted an RBA pivot, in the face of surging energy, housing and food prices. The RBA has aggressively hiked the cash rate since May 2022. Prior to this, banks cashed in on high residential housing prices, with low interest rates and government schemes encouraging strong mortgage uptake over the course of the pandemic. APRA also eased the interest rate buffer in 2019, before raising it in 2021. Although a subdued cash rate cut banks' interest incomes, it was more than offset... Learn More

7. Health Services in Australia

Revenue for 2025: $218.3B

The Health Services subdivision covers a range of health services and facilities. General hospitals are the subdivision's largest revenue driver, accounting for over half of Australia's health services revenue. General practitioners (GPs), clinical specialists and dentists also represent significant revenue streams for the subdivision. While Australia's growing and ageing population has bolstered demand for health services in recent years, the COVID-19 pandemic disrupted subdivision expansion, as health services redirected resources to contain the virus.

Overall, subdivision revenue is expected to edge up by an annualised 1.2% over the five years to 2023-24 to $202.4 billion. This soft growth rate reflects the... Learn More

8. Financial Asset Investing in Australia

Revenue for 2025: $153.9B

Financial asset investors have benefited from a generally strong domestic sharemarket performance over the past five years. Typically, industry funds are invested in equities and industry revenue depends on various sharemarket performances. The COVID-19 pandemic and ensuing inflationary pressures significantly disrupted both local and global equity markets, which limited industry performance. Yet, total assets have continued to accumulate over recent years compounding returns for investors, assisted by previously low interest rates. Overall, industry revenue is expected to rise at an annualised 4.2% over the five years through 2023-24, to $143.2 billion.

The low interest rate environment that characterised the trading landscape... Learn More

9. Iron Ore Mining in Australia

Revenue for 2025: $131.9B

Iron ore miners have benefited from major increases in iron ore prices, and modest growth in production volumes over the past five years. Iron ore revenue is expected to increase at an annualised 8.1% over the five years through 2022-23, to total an estimated $124.1 billion. Strong demand from China and disruptions to iron ore producers in Brazil prior to, and during the COVID-19 pandemic, sent iron ore prices soaring. Iron ore prices are projected to fall in 2022-23, prompting iron ore revenue to drop an estimated 16.2% over the year.

Over the past decade, strong economic growth in China has... Learn More

10. Supermarkets and Grocery Stores in Australia

Revenue for 2025: $131.7B

The Supermarkets and Grocery Stores industry is one of the most fiercely competitive industries in Australia. The continued expansion of Aldi and Costco has forced the two established industry giants, Woolworths and Coles, to remain price competitive. To differentiate themselves from low-cost supermarkets, Coles and Woolworths have increasingly focused on improving customers' shopping experience through store refurbishments and increased online shopping capabilities. These supermarket giants are increasingly relying on loyalty programs and promotions rather than discounts. Coles and Woolworths have also displayed a lot of interest in data analytics, have strengthened their relationships with analytics firms and taken a lot... Learn More