What the Strategy will do
NSW has a globally connected and investment-ready economy, well positioned to seize new opportunities in a rapidly changing world. As industries transform and global markets shift, NSW must diversify its economy through trade partnerships and by attracting strategic investment to drive long-term prosperity.
The objectives of the NSW Trade and Investment Strategy 2035Download File are to drive changes which will improve the state’s productivity, economic complexity, and resilience by leveraging its strengths to capitalise on new and emerging opportunities for businesses, investors and communities.
The Strategy is anchored in the NSW Industry Policy, which sets the overarching environment for action and prioritises trade and investment efforts aligned with the NSW Government’s three key missions, which are to:
- ensure secure and affordable housing for NSW residents
- support the net zero and energy transition
- build a stronger local manufacturing industry.
NSW’s trade profile presents opportunities to strengthen connections, drive growth and diversify export products and export markets.
In 2023–24, nearly 45% of merchandise exports went to NSW’s top three trading partners, led by Japan and China. Coal remained the state’s leading export, accounting for 23% of total export value, while more than 40% of total export value was concentrated in the state’s top three products.
To ensure long-term resilience and reduce reliance on a narrow export base, it is essential to diversify products and markets. NSW is a sophisticated economy and diversification can occur concurrently with building on existing strengths.
Principles and pillars: A framework for success
The Strategy is guided by two principles.
- Leveraging NSW’s comparative advantages – building on the state’s strengths to drive beneficial trade and investment outcomes and enhance global competitiveness.
- Maximising benefits from emerging opportunities – proactively positioning NSW to harness global megatrends and ensuring adaptability to evolving economic and geopolitical landscapes
To deliver on these principles, the Strategy is structured around four key pillars that guide efforts to promote trade and attract investment while ensuring economic diversification.
Facilitating market access for high-growth potential exporters
Facilitating market access for high-growth potential exporters – enhancing access and export readiness for this cohort, including small and medium-sized enterprises (SMEs), to drive diversification, job creation, competitiveness and global market integration.
Growing and
diversifying markets
Capitalising on emerging opportunities to expand and diversify markets in which NSW has a comparative advantage, to support a more resilient and complex NSW economy
Attracting investment to drive
growth and productivity
Securing capital to boost economic resilience, foster knowledge transfer, enhance skills and drive innovation, delivering growth and productivity benefits.
Enabling missions through
targeted investment
Targeting investment to work towards accomplishing the missions outlined in the NSW Industry Policy.
Focus Sectors
Housing
NSW is advancing its Housing priorities through innovation in building materials, construction technologies, and the built environment.
With a focus on Modern Methods of Construction such as prefabrication and 3D printing, NSW offers opportunities for investment in scalable, efficient, and sustainable housing solutions.
Net Zero & Energy Transition
NSW is advancing its Net Zero & Energy Transition mission by harnessing strengths in clean energy, critical minerals, and green technologies.
With strong government support and targeted investment, the state is positioning itself as a globally competitive hub for innovation and growth in the low-carbon economy.
Local Manufacturing
NSW is enhancing its Local Manufacturing capabilities by focusing on manufacturing materials, advanced manufacturing technologies, and transport and logistics.
Through strategic investments in infrastructure, innovation, uplifting supply chains and skills development, the state aims to build a more dynamic and resilient manufacturing ecosystem, offering compelling opportunities for the existing industry and new investors.
Agrifood
NSW is the location of choice for the agribusiness and agrifood industry, thanks to world-renowned biosecurity standards that ensure clean, safe, premium products from farm to gate to plate.
Our local industrial capabilities drive sustainable growth and global trust, making NSW a premier hub for quality and innovation in this sector.
Defence & Aerospace
NSW is the home of defence and space, offering the largest industry base, most complex capabilities, world-leading R&D and advanced infrastructure.
From cutting-edge startups and scaleups, established small and medium enterprises through to global Defence Primes, the state fosters innovation, collaboration, and investment to maintain and grow the best defence and space ecosystem.
Digital Technologies
NSW is a global hub for digital technologies, driven by a vibrant innovation ecosystem, skilled talent, and strong infrastructure.
From startups to global tech leaders, the state offers a dynamic environment for growth, collaboration, and investment in emerging and advanced digital solutions.
International Education
NSW is Australia’s leading destination for international education, offering world-class institutions, a vibrant multicultural society, and strong graduate outcomes.
The sector drives innovation, fosters global partnerships, provides a skills uplift and delivers significant economic and social benefits to the state.
Life Sciences & Healthcare
NSW is a powerhouse in life sciences and healthcare, home to world-class research institutions, innovative biotech firms, and cutting-edge medical technology.
The sector offers strong collaboration potential, a skilled workforce, and exceptional opportunities for investment and global partnerships.
Mining Equipment, Technology and Services (METS)
NSW’s METS sector blends rich mining heritage with cutting-edge innovation, delivering advanced solutions across the mining value chain.
Supported by a skilled workforce, robust R&D, and strong industry partnerships, NSW offers a competitive and future-focused environment for global trade.
Priority Markets
Contact Investment NSW to find out how we can help grow your business in New South Wales or export to global customers.