The Hon. Roger Cook, Premier of Western Australia; The Hon. Rita Saffioti, Treasurer of Western Australia, Joint Media Release, 7 May 2026

Despite geopolitical and economic uncertainty across the world, Western Australia’s economy remains the strongest in the nation under the Cook Labor Government.

Over the past five years, the State’s domestic economy has grown by 27.2 per cent, well above the national rate of 20.9 per cent.

The State’s growth has continued despite global challenges including conflict in the Middle East, the energy shock from the Russia/Ukraine war, tariff uncertainty and the Covid-19 pandemic.

This economic momentum continued in 2025, with 3.3 per cent growth, above the national rate of 2.5 per cent.

The strong performance has been driven by a thriving private sector, which contributed 86 per cent of the State’s domestic economic growth in 2025 – the highest share of any State in the country.

The private sector demand has been underpinned by business investment, which increased by 5.7 per cent in 2025, the fastest rate in the nation – and is projected to grow by 6.75 per cent this financial year.

Dwelling investment is also forecast to grow by 9.5 per cent in 2025-26, while household spending is forecast to grow supported by rising household incomes.

Supported by this strong private sector demand and an improved outlook for net exports, Gross State Product is expected to grow by 3.25 per cent in 2025-26.

The figures cement WA’s status as the economic engine room of the nation, accounting for almost a fifth of national business investment and more than 45 per cent of national exports.

The State’s economic strength is delivering record employment, with 1.68 million people currently in work – more than ever before.

More than 380,000 jobs have been created since 2017, an increase of 29.3 per cent, the highest growth in the nation over this period.

Strong labour market conditions are expected to continue, with the unemployment rate forecast to remain low, averaging 4 per cent in 2025-26. 

WA’s strong economy continues to attract people to the State, with population growth remaining the fastest in the country.

Population growth is expected to slow from a peak of 3.6 percent over the year to September, slowing to 1.8 per cent in 2025-26.

The 2026-27 Budget will continue to deliver job-creating investments in infrastructure, training and the Cook Labor Government’s Made in WA strategy which continues to create jobs across the State.

To complement the strong growth in the private sector, the Budget invests:

• an additional $597 million across a range of initiatives to support jobs and economic diversification that will help set the State up for generations to come;
• $156 million to establish the Made in WA Energy Affordability Investment Program;
• $90 million allocated from the Strategic Industries Fund to activate strategic industrial areas;
• $85 million to support the development of the green iron and steel industry; and
• $83 million for general industrial land development.

For more information, visit ourstatebudget.wa.gov.au

Comments attributed to Premier Roger Cook:

“Our strong financial management has helped keep Western Australia’s economy the strongest in the nation.

“With more than 380,000 jobs created in this State since coming to government in 2017, my experienced team’s strong financial management has maintained confidence in our economy.

“That’s helped us provide the infrastructure and services industry the community needs, as well as prioritising housing, health, jobs and cost-of-living relief for all Western Australians.”

Comments attributed to Treasurer Rita Saffioti:

“While there is significant economic uncertainty right now, The Cook Labor Government’s commitment to ensuring Western Australia remains the strongest economy in the nation remains unchanged.

“One of the hallmarks of our economy is the thriving private sector, which accounted for 86 per cent of our economic growth in 2025, by far the highest in the country.

“The Cook Labor Government has established the right conditions so that businesses want to invest in our State – and that means more job opportunities for Western Australians.

“Our strong performance and sound economic management have delivered more than 380,000 jobs since 2017, with a record 1.68 million Western Australians in work right now.

“This Budget backs in the momentum we’ve generated through significant investments in housing and social infrastructure, training, economic diversification and industry development.

“We know from past experience the WA economy is resilient, and the State’s strong economic fundamentals and good financial management mean it is well placed in the current environment of global uncertainty.”

Related stories: WA Budget 2026-27