Logistics’ contribution to GDP `underestimated’: ALC

<p>The transport and logistics sectors contribution to Australia’s gross domestic product (GDP) has risen from the widely accepted 9% mark to 14.8%, the Australia Logistics Council reported last week.</p> <p>According to the ALC’s National Industry Data Group, the freight and logistics sector’s contribution to GDP has been underestimated for some time, and now sits at $95 bn (14.8% in 2001 dollars). </p> <p>Responding to the news, ALC executive director Hal Morris said that the Government had recognised that the logistics sector represents a &#8220big slab of our economy&#8221.</p> <p>&#8220It is most significant that this is a multi-year level of support, and ALC stands ready to work constructively with state and federal governments to ensure that this major contributor to Australia’s economy remains at the leading edge so that we, as an industry, can compete and operate effectively,&#8221 he said.</p> <p>By way of comparison, logistics in China contributed 19% to its GDP.</p> <br />