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1345.4 - SA Stats, Jan 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 30/01/2007   
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GROSS DOMESTIC PRODUCT AND GROSS STATE PRODUCT

This month's article presents gross state product and gross domestic product data from the publication 'Australian National Accounts: State Accounts' (cat. no. 5220.0) for the ten-year period of 1996–97 to 2005–06. All monetary values in this article are expressed in chain volume measure terms. Chain volume measures provide estimates of value changes after the direct effect of price changes have been eliminated, i.e. they reflect volume changes. For more details, see Information Paper: Introduction of Chain Volume Measures in the Australian National Accounts (cat. no. 5248.0).


Gross state product can be simply defined in the following table:



State final demand
+ Exports of good and services
– Imports of good and services
+ Balancing item(a)

= Gross state product


(a) The balancing item implicitly comprises changes in inventories,
total net interstate trade and statistical discrepancy


At the Australian level, gross domestic product is conceptually equivalent to gross state product.

South Australia recorded a GSP of $60,737m for 2005–06. This represented 6.6% of Australia's GDP, down from the 7.0% share recorded in 1996–97 when South Australia's GSP was $46,906m. The value of Australia's GDP was $921,747m in 2005–06, increasing from $673,099m in 1996–97. Of the states and territories, New South Wales was the largest contributor to GDP in 2005–06. The value of the GSP for NSW was $310,091m in 2005–06, representing 33.6% of Australia's GDP.

GROSS STATE PRODUCT,
Chain volume measures
Graph: Gross State Product, Chain volume measures
Source: Australian National Accounts: State Accounts (cat. no. 5220.0)


PERCENTAGE OF AUSTRALIA'S GDP,
Chain volume measures
Graph: Percentage of Australia's GDP, Chain volume measures
Source: Australian National Accounts: State Accounts (cat. no. 5220.0)


From 1996–97 to 2005–06, South Australia's GSP has increased by 29.5%. This is lower than the percentage increase of GDP for Australia, which increased by 36.9% over the same period. Of all of the states and territories, South Australia's percentage increase in GSP was the third lowest followed by New South Wales (27.5%). Tasmania recorded the lowest percentage increase in GSP (25.1%). Queensland recorded the highest percentage increase of GSP of all the states and territories with 55.6%.

INCREASE IN GSP/GDP, 1996–97 to 2005–06,
Chain volume measures
Graph: Increase in GSP/GDP, 1996–97 to 2005–06, Chain volume measures
Source: Australian National Accounts: State Accounts (cat. no. 5220.0)


South Australia's GSP per capita was $39,251 in 2005–06, increasing from $31,749 in 1996–97. GDP/GSP per capita is calculated as the ratio of real (i.e. in chain volume terms) GDP/GSP to the estimated resident population. South Australia's GSP per capita for 2005–06 was lower than the GSP per capita for all of the other states and territories with the exception of Tasmania ($33,926). The GDP per capita for Australia was $45,021 in 2005–06, increasing from $36,547 in 1996–97.

GSP/GDP PER CAPITA,
Chain volume measures
Graph: GSP/GDP Per Capita, Chain volume measures
Source: Australian National Accounts: State Accounts (cat. no. 5220.0)


South Australia's GSP per capita has increased by 23.6% over the ten year period from 1996–97 to 2005–06, a slightly higher rate than that for the whole of Australia (23.2%). From 1996–97 to 2005–06 for all of the states and territories, Queensland recorded the highest percentage increase (30.5%) in GSP per capita, while New South Wales recorded the lowest percentage increase (17.0%).

INCREASE IN GSP/GDP PER CAPITA, 1996–97 to 2005–06,
Chain volume measures
Graph: Increase in GSP/GDP Per Capita, 1996–97 to 2005–2006, Chain volume measures
Source: Australian National Accounts: State Accounts (cat. no. 5220.0)


STATE FINAL DEMAND

State final demand can be simply defined in the following table:



Final consumption expenditure
+ Private gross fixed capital formation
+ Public gross fixed capital formation

= State final demand



At the Australian level, domestic final demand is conceptually equivalent to state final demand.

In 2005–06, the total state final demand for South Australia was $65,242m. For South Australia, final consumption expenditure was $50,352m, which represented 77.2% of South Australia's state final demand. The other components to state final demand in South Australia were private gross fixed capital formation ($13,193m or 20.2%) and public gross fixed capital formation ($1,697m or 2.6%).

FINAL CONSUMPTION EXPENDITURE AS A PERCENTAGE OF STATE/DOMESTIC FINAL DEMAND,
Chain volume measures
Graph: Final Consumption Expenditure as a Percentage of State/Domestic Final Demand, Chain volume measures
Source: Australian National Accounts: State Accounts (cat. no. 5220.0)


Expenditure on private gross fixed capital formation in South Australia was $13,193m in 2005–06 or 20.2% of state final demand. In 1996–97, expenditure on private gross fixed capital formation in South Australia was $6,674m or 14.8% of state final demand. For Australia, total expenditure on private gross fixed capital formation was $213,763m in 2005–06, (22.4% of domestic final demand). In 2005–06, private gross fixed capital formation expenditure as a proportion of state final demand was highest in Western Australia (31.4% of $101,904m).

PRIVATE GROSS FIXED CAPITAL FORMATION EXPENDITURE AS A PERCENTAGE OF STATE/DOMESTIC FINAL DEMAND,
Chain volume measures
Graph: Private Gross Fixed Capital Formation Expenditure as a Percentage of State/Domestic Final Demand, Chain volume measures
Source: Australian National Accounts: State Accounts (cat. no. 5220.0)


REFERENCES

Australian National Accounts: State Accounts (cat. no. 5220.0)


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