Economy
The Mid West region has a diverse economy built around mining, agriculture, fishing and tourism.
An important contributor to the Western Australian economy, the Mid West's gross regional product was $3.5 Billion in 2005/2006 which is 17.9 per cent higher than the previous year in real growth terms.
Mining is the most valuable sector. In 2005/06, the mining and petroleum production in the Mid West reached a value of $2.4 billion.
Agriculture is also a significant industry for the Mid West. In 2003/04 the region's agricultural gross value was $792.2 million a substantial 12.6 percent of the states total. More than half of all agricultural income is derived from wheat production with the 2003/04 harvest valued at $432.7 million. Other agricultural industries include various cereal and legume crops, Livestock predominantly sheep and cattle, horticulture and aquiculture both on the coast and inland.
The Mid West has the highest value fishing industry in Western Australia, accounting for 36 per cent of the State’s catch in 2004/05. By far the most valuable product is rock lobster. The lobster catch was worth $116.6 million dollars in 2004/05. However in a strong year with the right combination of catch quantity and beach price the rock lobster industry can be worth as much as $165.3 million as it was in 1999/00.
The Mid West is also a popular tourist destination and visitors to the region make an important contribution to the local economy. In 2004/05 domestic and international visitors were estimated to have spent $202 million in the region during overnight visits. The Mid West region has a strong and significant manufacturing sector worth $383 million in 2001/02 (the most recent data). The majority of manufacturing businesses are based around servicing the needs of the region's agricultural, mining and fishing industry sectors.
Source: Department of Local Government and Regional Development, Mid West Development Commission, Australian Bureau of Statistics.