According to the ABS report, ICT made a greater contribution to the economy throughout 2002-2003 than agriculture, forestry, fishing, defense and education, and accounted for 4.6 percent of GDP (Gross Domestic Product). ICT reaped 13.8 percent of total investment in Australia for the 2002-2003 timeframe.

Dennis Furini, ACS chief executive officer, said it is time for the ICT sector, and state and federal governments to work together to promote Australia as a regional hub for global technology investments.

"The ABS report provides evidence of something we have long maintained - that ICT is a vital part of the economy and it requires equitable levels of support to its industry counterparts," Furini said.

"I'm now calling for ICT groups to work with state and federal governments to develop a 10-year plan for the continued growth and development of the industry. It is time the ICT sector and government to work together to promote Australia as a regional hub for global technology investments.

"For the Australian economy to strengthen, we need to know which industries have the potential to drive growth."