A new report investigating the economic contribution of science has found that physics, chemistry and maths directly add $145 billion to the Australian economy every year.

The report, commissioned by the Office of the Chief Scientist and the Australian Academy of Science, was produced by the Centre for International Economics.

It said when flow-on impacts were included, the value of advanced physical and mathematical sciences sector increased significantly.

"The total direct and flow-on impact ... amounts to over 22 per cent of Australian economic activity, or about $292 billion per year," the report said.

"11 per cent of Australian economic activity relies directly on the advanced physical and mathematical sciences."

It will be officially launched by Australia's chief scientist Ian Chubb today.

"For the first time we now have the numbers on the table showing the importance of these sciences to the Australian economy," Professor Chubb said.

"It is too easy to take the benefits of science and innovation for granted, and this report shows that the knowledge from these disciplines supports and enhances economic activity which benefits all Australians."

The report found approximately 7 per cent or 760,000 Australian jobs were directly related to physics, chemistry, earth and mathematical sciences.

The authors warn the figures in the report are a conservative estimate and only include the economic benefits of discoveries and innovations implemented in the past 20 years.

One example cited in the report demonstrated how advanced mathematics supported the effectiveness of mobile phones and wireless internet.

"Exports associated with the advanced physical and mathematical science activities are worth around $74 billion a year," the report said.

"This is 28 per cent of Australia's goods exports and equivalent to 23 per cent of total Australian exports of goods and services."