Yes, that figure says what you think it says. According to the Australian Bureau of Statistics, total Internet income for Aussie businesses in the 2010-2011 financial year was $188.7 billion.
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When we reported last year's figure of $143 billion, many readers were sceptical. It's worth remembering that this figure covers all orders placed electronically, so there's a massive amount of business-to-business trade included. Roughly a quarter of Australian businesses accept payments online, according to the ABS.
The ABS notes that the figures for smaller businesses and enterprise could have a significant margin of error, but even cut the entire figure by 25 per cent, there's still a lot of business happening online. Now what we need is some sort of network to make it work faster . . .