In 1934 the National Handbook of Australia’s Industries gave the following description of the economy of New South Wales: “New South Wales is predominantly a pastoral and agricultural state.” Ambrose Pratt (ed.), The National Handbook of Australia’s Industries (Specialty Press, Melbourne, 1934), p.100. By the year 2000, production in the state has changed considerably: with the development of sectors such as financial services, retailing and manufacturing.

This paper endeavours to look at how these changes have come about, by examining four major arenas of activity: the production of commodities for export; manufacturing; insurance and banking; and retailing, property, telecommunications, tourism and education. By looking at these four arenas, it is possible to see, not only how production in the state has developed, but also what has been (or currently is) the significant feature of that activity as far as understanding the economy of NSW today.