The Kimberley region has a diverse regional economy with one of the fastest rates in Western Australia. Mining, tourism, retail, agriculture, and pearling are major contributors to the region's economic output.

Agriculture production for the Kimberley Region was valued at $186.7 million in 2008-09, which constitutes 2.6% of the value of agriculture in Western Australia. There are 140 agricultural establishments in the region, covering 12.7 million hectares. 
The pastrol industry made up 74% of the total value of agriculture at $139 million in 2008-9. Crop production for the same year was valued at $47.7 million, 26% of the region agriculture. 

Mineral and mining production was valued at $838.0 million in 2009-10. The Kimberley accounts for all of Western Australia's diamond production and produces 90% of the world's pink diamonds.
 High grade iron ore is mined at Cockatoo and Koolan Islands near King Sound. 

The 2008-09 estimated value of fishing production was $8.7 million. The estimated value of the regions aquaculture in 2008-09 is $70.6 million. The Kimberley pearl industry peaked at $91.5 million in 2005-06 and 2006-07, but in 2008-09 pearls were valued at $67.5 million.

Tourism is expected to remain one of the region's major growth industries. In 2009 there were 291,000 domestic and international visitors to the Kimberley. The total value of tourism expenditure was $276 million.