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1360.0 - Measuring Australia's Economy, 2003  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/02/2003   
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The ratio of national net saving to national net disposable income in quarterly trend terms is shown in the following graph. The ratio was particularly low during the recession in the early 1990s. In recent years it has been around 4%, and in the June quarter 2002 the ratio was 3.6%.




NATIONAL INCOME ACCOUNT, Current Prices

1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
$m
$m
$m
$m
$m
$m

Income
Compensation of employees
257,968
268,912
287,086
302,312
322,049
337,381
Gross operating surplus
161,658
176,833
181,186
196,137
206,021
221,446
Gross mixed income
48,500
50,929
53,590
57,666
61,156
68,345
Taxes less subsidies on production and imports
61,760
64,555
69,730
73,094
83,005
88,193
Net primary income from non-residents
-19,151
-18,091
-18,430
-18,150
-19,077
-20,220
Gross national income
510,735
543,138
573,162
611,059
653,154
695,145
Net secondary income from non-residents
Current taxes on income, wealth, etc
892
940
997
1,135
1,100
1,002
Other current transfers
-913
-918
-1,746
-917
-1,068
-1,019
Gross disposable income
510,714
543,160
572,413
611,277
653,186
695,128
Use of gross disposable income
Final consumption expenditure
General government
96,173
101,332
108,213
118,037
125,172
132,043
Households
314,565
335,101
354,951
374,713
402,615
427,451
Net saving (a)
19,599
20,567
17,933
20,865
21,107
24,078
Consumption of fixed capital
80,376
86,160
91,316
97,663
104,292
111,556
Total use of gross disposable income
510,714
543,160
572,413
611,277
653,186
695,128

(a) Net saving is derived as a balancing item

Source: Australian National Accounts: National Income, Expenditure and Product (5206.0).


Explanatory Notes

The national income account shows the sources and distribution of incomes in the economy, and how much of the national income is spent on final consumption. The part of income which is not spent on final consumption is saving.

The national income account records compensation of employees, gross operating surplus, gross mixed income and taxes less subsidies on production and imports. Net payments of income and current transfers to overseas are deducted to give an estimate of gross disposable income.

Gross disposable income is used for final consumption expenditure, with the balance being the nation’s gross saving - a source of finance for gross capital formation. Gross saving less consumption of fixed capital gives an estimate of net saving.

Further Reading

Australian National Accounts: Concepts, Sources and Methods (5216.0)
Contains a detailed explanation of the system of Australian national accounts outlining major concepts and definitions.

Australian National Accounts: National Income, Expenditure and Product (5206.0)
Contains quarterly data for the national income account as well as quarterly income accounts for the households and general government sectors.

Australian System of National Accounts (5204.0)
Contains annual data for the national income account as well as income accounts for each sector.

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