Economic complexity is the unique 'knowhow' that is embodied in an economy. It is an indicator of the ability of an economy to realise value out of its resources, and to innovate and realise new opportunities. 

This presentation will explore how an economic complexity approach is needed to leverage Northern Australia's unique context and knowhow to realise untapped value.

Ranked by Harvard University's Economic Complexity Index as performing 93rd out 133 countries, Australia's export basket, while diverse, lacks depth and sophistication.  'Low value' commodities are exported offshore, to be imported as 'high value goods'.  This has significant implications to the nation's ongoing competitiveness and resilience in a rapidly changing global landscape. Regional Australia faces an even steeper uphill battle. Its economic complexity metrics lag behind the national average, exacerbating disparities in prosperity and opportunity.

The vast expanse of Northern Australia harbors untapped potential. Its distinctive context—abundant natural resources, indigenous knowledge, diverse communities, and geographic advantages—presents opportunities waiting to be harnessed.

In this presentation, Jason and Giles will compellingly advocate for the development of economic complexity in Northern Australia. Through thought-provoking case studies, they will unveil a framework for realising impactful change.