Australian Bureau of Statistics
5220.0 - Australian National Accounts: State Accounts, 2012-13 Quality Declaration
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 28/11/2013
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ANALYSIS OF RESULTS
GSP PER CAPITA
For analytical purposes it is important to allow for the impact of population growth on movements in GSP. Six states had positive growth in GSP per capita due to GSP growth rates exceeding their state population growth rates for 2012-13. VIC (-0.2%) and TAS (-0.7%) recorded negative per capita growth. TAS recorded falls in three of the last four years.
NT recorded the highest GSP per capita growth (3.7%).
REAL GROSS STATE INCOME
Volume estimates of GSP measure the volume of goods and services produced in each state. If the terms of trade for a state change significantly (i.e. the prices for international exports and imports change at different rates) then GSP will not accurately reflect the change in real purchasing power of the income generated within a state. For this reason, Real gross state income (RGSI) includes an adjustment to capture the terms of trade (for details on the calculation method see the Explanatory Notes, paragraphs 26 - 28).
The following graph shows annual percentage changes in RGSI per capita in 2012-13. NT (1.6%) and ACT (0.4%) are the only states to report positive RGSI per capita in 2012-13. The highest fall in RGSI per capita was reported by WA (-5.0%).
GROSS VALUE ADDED (GVA)
Volume growth in GVA was strongest in NT up 4.8% and WA 4.7%. TAS was the weakest, falling -0.4%.
Growth in NT was driven by the Mining (8.4%), Construction (8.2%), Health care and social assistance (9.9%), and Transport, postal and warehousing (6.5%) industries. Offsetting the growth in these industries were the Agriculture, forestry and fishing (-9.5%), Information media and telecommunications (-1.5%) and Electricity, gas, water and waste services (-1.1%) industries.
TAS negative growth was mainly driven by a fall in the Retail trade (-5.7%), Construction (-4.7%), Agriculture, forestry and fishing (-4.3%) and Manufacturing (-3.5%) industries. However, these falls were partly offset by rises in the Health care and social assistance (6.9%), Education and training (2.5%) and Electricity, gas, water and waste services (3.8%) industries.
At a national level, the main industries contributing to the 2012-13 GVA growth of 2.5% were Mining (9.2%), Healthcare and social assistance (6.5%), Administrative and support services (5.1%) and Financial and insurance services (3.3%). Agriculture, forestry and fishing (-5.5%), Other services (-4.6%), Information media and telecommunications (-2.6%) and Manufacturing (-1.2%) were the main detractors to growth.
From a state perspective, there are differing industry impacts in GVA growth. In 2012-13, the largest contributor(s) to results in each state were:
STATE FINAL DEMAND (SFD)
Volume SFD in 2012-13 recorded growth for five out of eight states. The strongest growth was in NT (18.3%), followed by WA (5.2%) and QLD (2.4%). Growth in these states was driven by strong Private gross fixed capital formation.
SA (-0.2%) and TAS (-3.1%) were the states to have negative growth in SFD and was driven mainly by fall in Private gross fixed capital formation. VIC (0.0%) recorded no movement,
NT, WA and QLD were the only states to record SFD growth above national Domestic final demand (DFD) growth of 1.9%.
WA, NSW and QLD contributed the most to Australia's DFD growth with WA 0.7 percentage points, NSW and QLD 0.5 percentage points respectively.
GOVERNMENT FINAL CONSUMPTION EXPENDITURE (GFCE)
GFCE in volume terms rose in six states in 2012-13. SA recorded the strongest growth in volume terms with an increase of 2.3%. Negative growth was experienced in VIC (-0.3%) and NT (-0.7%). The major contributors to Australia's growth in GFCE of 0.9% were NSW (0.3 percentage points), while SA and WA contributed 0.2 percentage points each.
HOUSEHOLD FINAL CONSUMPTION EXPENDITURE (HFCE)
HFCE in volume terms rose in all states in 2012-13. The growth was strongest in NT (6.2%), WA (4.1%) and ACT (3.4%). The major contributor to Australia's HFCE growth of 2.1% were NSW (0.7 percentage points) and QLD (0.5 percentage points).
PRIVATE GROSS FIXED CAPITAL FORMATION
Private gross fixed capital formation in volume terms rose in six states in 2012-13. NT had the strongest growth (62.2%) due to strength in Non-dwelling construction (127.7%). NSW, WA and QLD also showed growth with 8.0%, 7.7% and 5.3% respectively. Negative growth were recorded in VIC (-5.0%) and TAS (-15.6%).
The major contributor to Australia's increase in Private gross fixed capital formation of 4.7% were WA and NSW each contributing 1.8 percentage points.
PUBLIC GROSS FIXED CAPITAL FORMATION
VIC and WA were the only states to record rises in Public gross fixed capital formation with 10.0% and 1.5% respectively.
The major contributor to Australia's negative growth in Public gross fixed capital formation of -8.8% was NSW with -6.7 percentage points.
TOTAL FACTOR INCOME (TFI)
Total factor incomes grew in six states with NT (6.2%) and ACT (4.5%) recording the strongest growth. WA (-0.5%) and TAS (-0.4%) recorded negative growths.
Australia's Compensation of employees (COE) rose by 3.6% with WA recording the strongest growth of 7.9%. TAS is the only state to record a negative growth (-0.2%).
Gross operating surplus (GOS) plus gross mixed income (GMI) fell 0.5% for Australia. Four states experienced growth in GOS plus GMI with the strongest growth in NT (4.9%). Four states experienced negative growth with the largest fall in WA (-6.5%).
GROSS HOUSEHOLD DISPOSABLE INCOME PER CAPITA
The above analysis of GSP per capita concentrates on the level of economic production and its growth. It does not provide a measure of incomes received by residents of a particular state, because a proportion of income generated in the production process may be transferred to other states or overseas (and conversely income may be received from other states or overseas). A measure that takes these flows into account is gross household disposable income per capita.
The highest Gross household disposable income per capita in 2012-13 was in ACT and the lowest was in TAS. Please refer to Table 43 for more details. Differences between the states reflect differences in the impact of a range of factors including the average level of compensation of employees received per employee, the proportion of the population in employment, the age distribution of the population and differences in the level of dwelling rent (including that imputed to owner occupiers). For example, a significant reason for the high level of gross household disposable income per capita in the ACT compared with other states is that the labour force participation rate is much higher there than in the rest of Australia.
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This page last updated 27 November 2013