Five industries set to boomPUBLISHED : | UPDATED:
Oil and gas industry to fire up. Photo: Glenn Hunt
It looks like there’s still some growth on the cards for the resources industry, with one market researcher calling out the oil and gas production industry to be the best performing industry in 2013 as the LNG boom continues.
In its annual analysis of industries that will fly, IBISWorld has oil and gas production at number one, in 2013 because, it says a switch in favour of gas instead of electricity will translate into an increase in exports of Australian liquified natural gas. LNG output is expected to reach 6.8 billion cubic metres in 2013.
Organic farming was one of the best performers in 2012 and the forecast is good for this year as well, as more of us become increasingly health conscious. Online education and online shopping should come as no surprise. More and more universities are opening up their courses on-line and there is a growing acceptance of their credibility. State governments are also assisting in some instances.
Other sectors of the property market might be stalling but not so apartments and townhouses according to IBISWorld which expects growth of 9 per cent over the year.
Building approvals data released by the Australian Bureau of Statistics last week revealed that while private sector house approvals dropped by 0.3 per cent over the month of November and were up by just 0.5 per cent over the year, private sector dwellings excluding houses rose by 10.1 per cent over the month of November and a massive 36.4 per cent which further confirm the rosy outlook for dwellings other than houses in the year ahead.
|Industries to fly||Revenue 2012 ($M)||Revenue 2013 ($M)||Growth (%)|
|Oil and gas production||38,314.1||44,422.9||15.9|
|Multi-unit apartment and townhouse construction||15,225||16,600||9|
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Penny Pryor Smart Investor