7123.2.55.001 - Agricultural State Profile, Victoria, 2003-04  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 10/08/2005   
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Contents >> Agriculture and the economy

The contribution of agriculture to the Victorian economy can be measured in a number of ways. The most direct measurement available is the gross value of agricultural production, which is the value placed on recorded production at wholesale prices realised in the market place. In 2002-03, the gross value of agricultural production for Victoria was $7.5 billion.

Other measures of the contribution of agriculture to the economy include:

  • gross farm product (GFP), which is a measure of the value added in production by farm businesses. In 2003-04 the GFP for Victoria was $5.8 billion, or 2.8% of gross state product; and
  • the value of exports of agricultural commodities from Victoria, which amounted to $1.7 billion in 2003-04.

GROSS FARM PRODUCT, Victoria
1999-2000
$m
2000-01
$m
2001-02
$m
2002-03
$m
2003-04
$m
Gross farm product (GFP)
4,573
6,024
6,861
r 5,107
5,768
Gross state product (GSP)
159,270
171,043
182,366
194,002
206,733
GFP as % of GSP
2.9
3.5
3.8
r 2.6
2.8
r revised since last issue
Source: Australian National Accounts: State Accounts (cat. no. 5220.0).




This section contains the following subsection :
      Value of agricultural production

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