Value of Freight
An efficient, sustainable and cost-effective freight transport and logistics industry supports NSW’s growing economy and quality of life aspirations for the people of NSW.
The Value of Freight study supplements Australian Bureau of Statistics (ABS) National and State Accounts data with new and additional data and models to better forecast an accurate picture of the freight transport and logistics sector.
Background
The value of freight transport and logistics sector study involved developing a methodology framework and model to estimate and forecast the sectors' contribution to the NSW economy.
Significant changes in the freight transport and logistics sector in the post-Covid world highlighted the need to reassess the way economic contribution was estimated.
This study was carried out to provide a more accurate representation of the overall contribution of freight transport and logistics to the NSW economy.
Consultation
Transport for NSW liaised with inter-governmental departments such as the Bureau of Infrastructure and Transport Research, NSW Treasury and the NSW Department of Planning in the development of this model.
Current status
The value of freight model forecasts suggests the freight transport and logistics sector’s GVA could grow from $74.3 billion in 2022-23 to $131.5 billion in 2060-61.
The updated model estimates the freight transport and logistics sector employs more than 330,000 full time and part time employees in 2022-23.
Forecasts suggest the freight transport and logistics sector’s employment figures could grow from 330,000 in 2022-23 to 565,000 in 2060-61.
To understand potential future impacts, the model forecasts out until 2060-61 which aligns with NSW Treasury 2021-22 Intergenerational Report modelling.
The modelled output dataset is now publicly available on the Open Data Hub.
For more information on how the Value of Freight model was developed you can read our Methodology Statement (PDF, 127.73 KB).