Queensland's economy stands as one of the strongest in Australia, with a gross state product of A$357,044 million in 2019, making it the third-largest in the country after New South Wales and Victoria. The state's economic foundation was established in the 19th century with the construction of sea ports and railways, laying the groundwork for Queensland’s export-driven mining and agricultural sectors. Since the 1980s, the state has experienced significant economic growth, fueled by a surge in interstate and international migration, substantial federal investment, the expansion of mining operations, and the growth of the aerospace sector.

The state’s primary industries are diverse and robust, including the production of bananas, pineapples, peanuts, and a wide variety of other tropical and temperate fruits and vegetables. Queensland is also a major producer of grain crops, wineries, cattle, cotton, sugarcane, and wool. The mining sector plays a vital role, with Queensland being rich in valuable mineral deposits such as bauxite, coal, silver, lead, zinc, gold, and copper.

Secondary industries focus primarily on the processing of these raw materials. For instance, bauxite is shipped from Weipa and refined into alumina in Gladstone, while copper is refined along the state’s coast, and sugar is processed in numerous mills along the eastern coastline.

Tertiary industries, including retail, tourism, and international education, also contribute significantly to Queensland's economy. In 2018, the state welcomed 134,312 international students, many of whom are based in Brisbane, with most coming from Asia.

Brisbane, the state capital, is classified as a global city with one of the largest GDPs in the Asia-Pacific region. It serves as the economic center for Queensland, boasting strong industries in mining, banking, insurance, transportation, information technology, real estate, and food. Some of Australia’s largest companies are headquartered in Brisbane, including Suncorp Group, Virgin Australia, Aurizon, Bank of Queensland, and Flight Centre, among many others. These companies contribute to the city's status as a key player in the global economy, ensuring that Queensland remains a major economic force in the nation and the wider Asia-Pacific region.