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5220.0.55.002 - Information paper: Gross State Product using the Production approach GSP(P), 2007  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 14/09/2007  First Issue
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NEW SOUTH WALES

New South Wales is the largest state in Australia in terms of gross state product. In 2005-06 it represented around one third of Australian Gross Domestic Product (GDP) in level terms.

Gross state product, New South Wales - Chain volume measures(a)

2000-01
2001-02
2002-03
2003-04
2004-05
2005-06

Values ($m)

GSP(A)
280 684
286 897
294 645
301 782
306 203
310 771
GSP(P)
275 015
282 117
290 411
300 071
306 547
311 450
GSP(I/E)
286 354
291 678
298 879
303 493
305 859
310 091
GDP
784 017
813 542
839 187
873 197
896 568
921 747

Percentage changes from previous year (%)

GSP(A)
2.3
2.2
2.7
2.4
1.5
1.5
GSP(P)
1.6
2.6
2.9
3.3
2.2
1.6
GSP(I/E)
3.0
1.9
2.5
1.5
0.8
1.4

(a) Reference year for chain volume measures is 2004-05.


New South Wales GSP(P) growth was positive throughout the time series with the exception of 1990-91 and 1991-92. Growth rates were quite high between 1992-93 and 1999-2000, with a peak in 1998-99. From 2000-01 the growth rates have moderated growing at an average of around 2%. In general GSP(P) and GSP(I/E) displayed similar growth throughout the time series, however there were some divergences between the two measures in 2000-01, 2003-04, and 2004-05.

Gross State Product, New South Wales - Chain volume measures(a): Percentage changes from previous year
Graph: Gross State Product, New South Wales—Chain volume measures(a): Percentage changes from previous year



The difference between the GSP(A) and GSP(I/E) growth has been less than 1.0 percentage point throughout the whole time series and was zero in 2005-06.

Difference between GSP(A) and GSP(I/E), Percentage changes - New South Wales: Chain volume measures(a)
Graph: Difference between GSP(A) and GSP(I/E), Percentage changes—New South Wales: Chain volume measures(a)


GSP, New South Wales - Chain volume measures(a): Contribution to growth

2000-01
2001-02
2002-03
2003-04
2004-05
2005-06
% pts
% pts
% pts
% pts
% pts
% pts

Agriculture, forestry & fishing
0.2
-
-0.7
0.4
0.1
0.1
Mining
-
-
-
0.1
0.1
-0.1
Manufacturing
0.2
0.2
0.3
-
-0.2
-0.1
Electricity, gas & water supply
0.1
-0.1
-
-
-
0.1
Construction
-1.0
0.6
0.9
0.4
0.3
0.3
Wholesale trade
-
-
-0.1
-0.1
0.2
-
Retail trade
0.1
0.2
0.3
0.2
0.1
-
Accommodation, cafes & restaurants
0.1
-
0.1
0.1
0.2
-
Transport & storage
-
0.1
0.2
0.1
0.2
0.1
Communication services
-
-
0.1
0.1
0.1
0.2
Finance & insurance
-0.3
0.1
0.5
0.6
0.2
0.5
Property & business services
1.5
-0.1
0.4
0.5
-0.2
-0.2
Government administration & defence
-0.1
0.3
-0.2
-0.1
-
0.1
Education
-
0.1
0.1
-
0.1
-
Health & community services
0.2
0.3
0.2
0.2
0.3
0.2
Cultural & recreational services
0.1
-0.1
0.1
0.1
0.1
0.1
Personal & other services
0.1
-
0.1
0.1
-
-0.1
Ownership of dwellings
0.3
0.3
0.3
0.3
0.4
0.3
Taxes less subsidies on products
-0.2
0.4
0.5
0.3
0.3
0.2
Statistical discrepancy
0.7
-0.3
-0.2
-0.9
-0.7
-0.2
GSP(A)
2.3
2.2
2.7
2.4
1.5
1.5

- nil or rounded to zero (including null cells)
(a) Reference year for chain volume measures is 2004-05.


In 2005-06 the main industries that contributed to New South Wales GSP growth were Finance and insurance (0.5 percentage points) and Construction and Ownership of dwellings (each 0.3 percentage points). The main negative contributing industry was Property and business services (-0.2 percentage points).

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