The Rockhampton Region's economy continues to soar, with new records set for exports and Gross Regional Product (GRP) last financial year.
New data sourced from Economy id shows exports from the Rockhampton Region hit $5.1 billion during the 2023/24 financial year, up 6.2% in the space of just 12 months. Domestic exports reached $3.6 billion (up $97.4 million) while international exports reached $1.4 billion (up $203.2 million).
Gross Regional Product (GRP) hit $6.94 billion last financial year, climbing $153 million from FY22-23. GRP is a measure of the total value of goods and services produced and represents economic output generated by business, organisations and individuals within the Region.
Mayor Tony Williams said the figures demonstrate clear growth in the local economy.
"The figures show businesses in the Rockhampton Region are increasing profits, growing their customer bases and improving productivity in the face of global headwinds," Mayor Williams said.
"Our economy is experiencing growth in the key industries of mining, transport and logistics, real estate and rental services, retail, education and healthcare.
"We'll proudly proclaim our historic title as the Beef Capital of Australia and a service hub for the resources sector – but clearly Rockhampton has evolved in an essential services hub for Central and Northern Queensland.
"As we celebrate this milestone, I'd like to thank our local businesses for their commitment to sustainable growth and local employment, and for being Rockhampton's biggest advocates on the world stage."
2025 marks a decade since the establishment of Council's economic development unit, Advance Rockhampton. During that time, local exports have soared by 20% while GRP has climbed 10%.
"Advance Rockhampton team continues to strive further in its support of local business and regional development through small business education and mentoring programs, investment attraction, business case developments, industry engagements, and targeted funding opportunities," Mayor Williams said.
"This record data shows the importance of Council investing in economic development so we can all enjoy the benefits that come from a thriving business community."
Advance Rockhampton Economic Development Manager, Wade Clark said the Region's strength lies in its diversity.
"Beyond the record-breaking headlines, what's clear from the data is the diversity of the Rockhampton Region's economy," Mr Clark said.
"Mining, energy and transport are our largest export industries, yet healthcare, education and retail are some of our most productive.
"These figures are worth celebrating, it is a step up in our local economic journey but certainly not an end point. Advance Rockhampton will continue to deliver programs which support local businesses, while advocating for investment in our vast portfolios spanning from agriculture to manufacturing, defence to energy, health to property development, education to mining and CBD businesses to construction."
The record GRP and export figures come just weeks after Rockhampton's workforce also reached a new record.
Data source: https://economy.id.com.au/rockhampton/gross-regional-product.
Note: Economic indicators have been adjusted for inflation to allow direct comparison.
