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1307.6 - Tasmanian State and Regional Indicators, Jun 2010 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 29/07/2010   
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Image: Economic ActivityECONOMIC ACTIVITY


GROSS STATE PRODUCT (GSP)

In 2008-09, Tasmania's Gross State Product (GSP) reached $22.6 billion, an increase of $0.3 billion or 1.4% from the 2007-08 figure of $22.3 billion. Household final consumption expenditure was the largest component of GSP, contributing $13.4 billion (59.2%). At the same time, government final consumption expenditure accounted for $5.0 billion (22.1%).

Tasmanian State final demand in 2008-09 increased by 2.1% on the 2007-08 estimate of $23.9 billion.


GROSS STATE PRODUCT (percentage change), Tasmania
(chain volume measures)

Graph: GROSS STATE PRODUCT (percentage change) Tasmania (chain volume measures)

STATE FINAL DEMAND, Tasmania
(chain volume measures)

Graph: STATE FINAL DEMAND, Tasmania (chain volume measures)


Over the year ending 30 June 2009, manufacturers contributed $2.6 billion or 12.7% of the $20.6 billion in gross value at basic prices added by producers in the Tasmanian economy.

Of the $3.0 billion in private business investment expenditure in Tasmania in 2008-09, $1.3 billion was accounted for by private new capital expenditure on buildings, structures, equipment and plant and machinery in Mining, Manufacturing and other selected industries. The $1.3 billion expenditure in 2008-09 represents a 12.4% increase on private new capital expenditure in 2007-08.


CONSUMER AND LABOUR PRICES

In the June 2009 quarter, the Consumer Price Index (CPI) (all groups) in Hobart increased by 1.7% on the corresponding quarter in 2008. Rises in costs in education (8.1%), health (5.1%) and food (5.0%), and the decreases in transportation (-6.4%) and financial and insurance services (-5.3%) were the main contributors to this change.


CONSUMER PRICE INDEX (all groups), Hobart

Graph: CONSUMER PRICE INDEX (all groups, percentage change), Hobart

CONSUMER PRICE INDEX (selected groups), Hobart

Graph: CONSUMER PRICE INDEX (selected groups, percentage change) , Hobart


Total hourly rates of pay (excluding bonuses) paid by Tasmanian employers rose by 4.3% between 2007-08 and 2008-09. This compares with a national increase of 4.0% during the same period.


HOUSE PRICE INDEX

Preliminary data showed the price index for established houses in Hobart in June 2009 increased slightly (up 1.0% on June 2008 price level) compared to a slight decrease nationally (down 0.7% on June 2008). At the same time, the price index for project homes in Hobart showed a year to year increase of 1.6% compared to 2.6% nationally.


HOUSE PRICE INDEX (established houses)

Graph: HOUSE PRICE INDEX (established houses)

HOUSE PRICE INDEX (project homes)

Graph: HOUSE PRICE INDEX (project homes)



HOUSING FINANCE COMMITMENTS

The number of first home buyers' houses (owner occupied) financed in Tasmania in 2008-09 increased significantly, by 49% from 2,141 in 2007-08 to 3,181 in 2008-09. At the same time, non-first home buyers' dwellings (owner occupied) financed decreased by 17% from 13,145 in 2007-08 to 10,946 in 2008-09.


FIRST HOME BUYERS, Tasmania,
Number of dwellings financed


Graph: FIRST HOME BUYERS, Tasmania, Number of dwellings financed

NON-FIRST HOME BUYERS, Tasmania,
Number of dwellings financed


Graph: NON-FIRST HOME BUYERS, Tasmania, Number of dwellings financed



INTERNATIONAL MERCHANDISE TRADE

In 2008-09, the value of Tasmanian goods exported overseas was $3,506.7 million, a decrease of 3.5% on the 2007-08 value of $3,635 million. At the same time, the value of goods imported into Tasmania was $956.0 million, an increase of 38% from 2007-08.

In 2008-09, Japan remained Tasmania's main export destination purchasing $532.6 million worth of Tasmanian goods. China was the second most favourable export destination with $470.2 million (a 61% increase from the previous financial year). Tasmania's major source of imports in 2008-09 was Japan ($163.7 million).

Zinc was the major export commodity in 2008-09, contributing $562.0 million or 16% of total Tasmanian exports. Cocoa was the highest value commodity imported contributing $81.9 million or 8.6% of total imports.


VALUE OF MERCHANDISE EXPORTS(a), Tasmania

Graph: VALUE OF MERCHANDISE EXPORTS, Tasmania

VALUE OF MERCHANDISE IMPORTS(a), Tasmania

Graph: VALUE OF MERCHANDISE IMPORTS, Tasmania



SOURCES

Australian Industry (ABS cat. no. 8155.0)

Australian National Accounts, State Accounts (ABS cat. no. 5220.0)

Consumer Price Index, Australia (ABS cat. no. 6401.0)

House Price Indexes, Eight Capital Cities (ABS cat. no. 6416.0)

Housing Finance, Australia (ABS cat. no. 5609.0)

Labour Price Index, Australia (ABS cat. no. 6345.0)

Lending Finance, Australia (ABS cat. no. 5671.0)

Private New Capital Expenditure and Expected Expenditure, Australia (ABS cat. no. 5625.0)

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