Australia Markets closed

  • ALL ORDS

    7,373.30
    +60.90 (+0.83%)
     

  • ASX 200

    7,177.80
    +55.50 (+0.78%)
     

  • AUD/USD

    0.6688
    -0.0029 (-0.4367%)
     

  • OIL

    75.70
    +1.33 (+1.79%)
     

  • GOLD

    1,987.00
    -10.70 (-0.54%)
     

  • BTC-AUD

    42,723.74
    +824.32 (+1.97%)
     

  • CMC Crypto 200

    621.79
    +7.58 (+1.23%)
     

  • AUD/EUR

    0.6166
    +0.0014 (+0.23%)
     

  • AUD/NZD

    1.0677
    -0.0038 (-0.35%)
     

  • NZX 50

    11,884.50
    -48.67 (-0.41%)
     

  • NASDAQ

    13,181.35
    +218.21 (+1.68%)
     

  • FTSE

    7,631.74
    +11.31 (+0.15%)
     

  • Dow Jones

    33,274.15
    +415.12 (+1.26%)
     

  • DAX

    15,628.84
    +106.44 (+0.69%)
     

  • Hang Seng

    20,400.11
    +90.98 (+0.45%)
     

  • NIKKEI 225

    28,041.48
    +258.55 (+0.93%)
     
✉️ Sign up:

Get our best money-saving hacks and pro tips now

$35.5bn in wages: Australia’s finance industry in a snapshot

Jessica Yun
<em>(Photo: Getty)</em>
(Photo: Getty)

Australia’s financial services industry makes up a whopping 10 per cent, or around $140 billion, of the country’s GDP.

And with the banking Royal Commission shaking up the sector, the strength and resilience of the sector is of vital importance to the nation.

It brings in $202 billion in revenue, with a profit $57.2 billion.

The financial services industry, made up of 38,889 businesses, is responsible for paying $35.5 billion worth of Aussie wages.

According to IBISWorld, here’s a snapshot of Australia’s finance sector:

(Source: IBISWorld)
(Source: IBISWorld)

Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.

Now read: Banking Royal Commission: What do the findings mean for you?

Now read: BREAKING: Royal Commission into banks hands down major findings

Now read: Royal Commission recommends criminal referral

Latest stories