The Hunter’s trade gateway to the world contributes almost $1 billion to the local economy, according to the latest analysis from HoustonKemp Economists.

The analysis, released this week, highlights the benefits of Newcastle’s port activity for the Hunter, state and national economies, including the positive impact on employment and household income.

The port’s direct and flow-on contribution to Australia’s gross domestic product (GDP) is almost $1.5 billion and it also underpins almost 9,000 full-time equivalent jobs nationally.

The analysis, using 2018/19 financial year data, also found that port activity generates:

HoustonKemp also analysed the economic benefit of constructing a 2 million TEU Multi-purpose Deepwater Terminal (MDT) in Newcastle, finding the project design and construction would generate 9,300 jobs and $1.3 billion to the Lower Hunter alone.

 The project would contribute $2.5 billion to GDP and create 15,000 direct and indirect jobs for Australia.

The figures do not include the broader economic benefits created through increased supply chain efficiency and making internationally-trading businesses in NSW more competitive in global markets.

 Port of Newcastle CEO Craig Carmody said, while it was difficult to quantify all the ways the Port contributed to the social and economic wellbeing of the region, the analysis helped to shed light on the importance of Australia’s largest east coast port to the nation’s economic prosperity.

“HoustonKemp has applied its complex economic methodology to quantify the scale of the port’s contribution in our region and for the rest of the nation,” Mr Carmody said.

“For every dollar generated by port activity in Newcastle, there is a total contribution of $2.62 to Australia’s GDP.”

Mr Carmody said the Port had a critical role to play in providing accessible, efficient and cost-effective supply chains that underpinned local jobs, businesses and the region’s economic prosperity.

“This is especially critical as we do our bit to help the economy recover from the effects of COVID-19,” Mr Carmody said.

“We look forward to the Hunter having an uncontained future and being an attractive place for private investment.

“Port projects started today will be critical in the decades ahead, ensuring we can diversify the economy and remain internationally-competitive and prosperous long into the future.”

View the results of HoustonKemp’s analysis on Port of Newcastle’s website.


Lower Hunter



Watch this video to find out how Port of Newcastle will continue to make a positive contribution to the Hunter, NSW and Australian economies. 


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Port of Newcastle

Port of Newcastle is a major Australian trade gateway handling 4,600 ship movements and 171 million tonnes of cargo each year. With its annual trade worth about $25 billion to the New South Wales economy, the Port enables businesses across the state to successfully compete in international markets. With a deepwater shipping channel operating at 50% of its capacity, significant port land available and enviable access to national rail and road infrastructure, Port of Newcastle is positioned to further underpin the prosperity of the Hunter, NSW and Australia. As custodians of the region’s critical asset, Port of Newcastle is diversifying its trade as it strives to create a safe, sustainable and environmentally and socially responsible Port that realises its potential.

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