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 2035 (PDF 7.68MB) 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:
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.
The strategy is guided by two core principles:
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 – 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.
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.
Securing capital to boost economic resilience, foster knowledge transfer, enhance skills and drive innovation, delivering growth and productivity benefits.
Targeting investment to work towards accomplishing the missions outlined in the NSW Industry Policy.
Each sector represents a growth opportunity and plays a role in diversifying NSW’s economy.
NSW is leading innovation in building materials, construction technologies and the built environment. With a focus on Modern Methods of Construction like prefabrication and 3D printing, the state offers investment opportunities in scalable, efficient and sustainable housing solutions.
NSW is becoming a global hub for clean energy, green technology and critical minerals. The state offers strong government support and targeted investment in renewables and low-carbon innovation.
NSW is strengthening manufacturing through innovation, infrastructure and skilled supply chains. Focus areas include advanced manufacturing, materials, transport and logistics - building a more resilient and dynamic ecosystem.
NSW is a global leader in premium, clean and safe agrifood exports. Our strong biosecurity standards, innovation capabilities and sustainable practices make NSW a trusted destination for global buyers and investors.
NSW has the largest defence and space industry base in Australia. From startups to global primes, the state supports collaboration, research, and advanced infrastructure across the full capability lifecycle.
NSW is a national leader in digital technology and innovation. Our ecosystem supports growth across AI, cybersecurity, data, and emerging tech—backed by world-class talent and infrastructure.
NSW is Australia’s top destination for international students. World-class institutions, strong graduate outcomes, and global partnerships drive growth and skills for the future economy.
NSW is home to world-leading research, biotech and medtech. The sector offers investment-ready opportunities, backed by innovation, collaboration and a highly skilled workforce.
NSW’s METS sector blends deep mining expertise with advanced innovation. The state supports future-focused solutions across the mining value chain, backed by R&D, skills and global partnerships.
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