Fastest Declining Industries in Australia by Revenue Growth (%) in 2020

1. Cotton Ginning in Australia

2019-2020 Revenue Growth: -60.8%

The Cotton Ginning industry is an important part of the agricultural support services sector and the national cotton sector. Raw cotton must be processed into lint and seeds by a cotton gin before either product can be used. The industry's performance is closely linked to the Cotton Growing industry. It is also indirectly affected by factors such as climatic conditions, water supply regulation, fluctuations in global cotton consumption, and cotton stockpiling. Typically, cotton is harvested and ginned towards the end of the financial year, with any surplus production carried into the following year. Higher cotton production correlates with higher industry... Learn More

2. Wind Farm Construction in Australia

2019-2020 Revenue Growth: -47.5%

The Wind Farm Construction industry provides engineering, procurement and construction services for wind power generation projects. The industry has benefited from government intervention to boost use of renewable energy sources and reduce reliance on carbon-emitting fossil fuels. The Renewable Energy Target (RET) compels electricity generators and retailers to increase the share of power generated from renewable sources. Following a review, in June 2015, the Federal Government scaled back the RET, which initially reduced investment in wind projects, although most state and territory governments have independently legislated their own RETs.

The industry's performance has rebounded from a deep cyclical low in 2014-15... Learn More

3. Diamond and Gemstone Mining in Australia

2019-2020 Revenue Growth: -45.4%

The Diamond and Gemstone Mining industry primarily produces and exports diamonds from Rio Tinto's Argyle mine in Western Australia. Industry players export cheaper unsorted diamonds and a limited number of rare coloured diamonds. Yellow and pink diamonds from the Kimberley region in Western Australia are Australia's most notable coloured diamonds, and sales of these high-end stones contribute disproportionately to industry revenue. In addition to diamonds, the industry includes companies that mine opals, sapphires and other gemstones.

Industry revenue is expected to decline at an annualised 15.1% over the five years through 2019-20 to $387.7 million due to the gradual decommissioning of... Learn More

4. Telecommunications Infrastructure Construction in Australia

2019-2020 Revenue Growth: -39.9%

The Telecommunications Infrastructure Construction industry is driven by technological advances and growing demand from households and businesses for voice and data telecommunications. The Federal Government’s commitment to constructing the NBN, which is Australia’s largest infrastructure project, has been the principal factor underpinning demand for industry services over the past five years. The industry has also derived substantial stimulus over the period from major telecommunication carriers rolling out their 3G and 4G mobile telecommunications networks. In addition, construction work on wireless transmission stations for new 5G mobile networks is currently supporting the industry.The Federal Government scaled back the NBN in 2013-14 to yield savings in both... Learn More

5. Inbound Tour Operators in Australia

2019-2020 Revenue Growth: -38.6%

Inbound tour operators primarily arrange and assemble travel packages, combining various domestic tourism products such as accommodation, transport, scenic tours and meals. These packages are onsold to overseas travel wholesalers and retailers, and are subsequently purchased by international travellers. Industry revenue is largely tied to the number of inbound tourists visiting Australia. Local inbound tour operators benefited from rising international travel to Australia, driven by the depreciation of the Australian dollar and cheap international airfares, over the four years through 2018-19. However, the current global outbreak of COVID-19 and the Federal Government's subsequent inbound travel restrictions have significantly constrained the... Learn More

6. Oil and Gas Field Services in Australia

2019-2020 Revenue Growth: -38.3%

The Oil and Gas Field Services industry is expected to decline at an annualised 41.8% over the five years through 2019-20, to $1.4 billion. Prior to 2015-16, unprecedented levels of investment in gas extraction and LNG production facilities across northern Australia shaped the industry's landscape. This investment was driven by technological advancements in natural gas extraction, liquefaction and long-distance transport. Furthermore, many companies in the upstream Oil and Gas Extraction industry outsourced site preparation and construction services to firms in the Oil and Gas Field Services industry.

The construction of major LNG projects in Queensland, Western Australia and the Northern Territory... Learn More

7. Scenic and Sightseeing Transport in Australia

2019-2020 Revenue Growth: -31.8%

The Scenic and Sightseeing Transport industry consists of operators that provide transport services in and around Australian tourism sites through a range of transport modes. The industry's main activities do not involve point-to-point transport. These services are provided by larger passenger transport industries, such as the Domestic Airlines industry, the Rail Passenger Transport industry, and the Interurban and Rural Bus Transport industry. Maritime transport for sightseeing or recreational purposes, such as charter boat operation and same-day cruises, dominates the Scenic and Sightseeing Transport industry. Industry demand depends on the health of the domestic tourism sector. Few industry operators offer services... Learn More

8. International Airlines in Australia

2019-2020 Revenue Growth: -31.1%

Airlines from different countries operate in the International Airlines industry. While many airlines, such as Emirates and Singapore Airlines, have a significant market presence in Australia, few foreign airlines have local incorporated subsidiaries. As a result, any airline that flies passengers or freight to or from Australia is included in the industry. The number of people travelling to and from Australia grew strongly over the four years through 2018-19, mostly due to increased tourism from nearby countries in the Asia-Pacific region and from the United States. The growing popularity of Australia as a tourist destination has benefited international airlines and... Learn More

9. Sheep-Beef Cattle Farming in Australia

2019-2020 Revenue Growth: -28.5%

The Sheep-Beef Cattle Farming industry is exposed to a range of factors, including weather patterns, downstream demand and price movements. Consequently, the industry displays high revenue volatility. However, revenue has grown significantly over the past five years as industry livestock and downstream meat product prices have surged. As a result, industry revenue is expected to rise at an annualised 6.1% over the five years through 2019-20, to $6.2 billion. This includes a decline of 29.4% in 2019-20, due to a significant fall in wool prices and herd and flock rebuilding activity.Varying rainfall has played a major role in the industry’s... Learn More

10. Airport Operations in Australia

2019-2020 Revenue Growth: -27.7%

The Airport Operations industry features several dominant players, with most aircraft movements going through Australia's major airports, such as Sydney, Melbourne and Brisbane. Airport operators generate revenue by charging landing and terminal fees to domestic and international airlines. Airports also receive rental income from airlines and retail stores for space leased on their premises. Airservices Australia, the industry authority which controls Australian airspace, earns revenue mostly on a per-aircraft basis. As a result, the volume of aircraft movements and passengers carried strongly correlates with industry growth.

Over the four years through 2018-19, a rising number of visitors from Asia and strong... Learn More