Australia’s domestic defence sector grew almost 6 per cent and contributed just shy of $9 billion to the economy in 2021-22, accounting for about 20 per cent of overall military procurement.
The Defence Department is the largest purchaser in the federal government, with a budget that has ballooned from about $35 billion in 2018-19 to just over $44 billion in 2021-22, or about 2 per cent of the economy.
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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
