ACTUAL AND EXPECTED NEW CAPITAL EXPENDITURE


FINANCIAL YEARS AT CURRENT PRICES

The graphs below show the seven estimates of actual and expected expenditure for each financial year. The estimates appearing below relate to data contained in tables 5 and 6. Advice about the application of realisation ratios to these estimates is in paragraphs 25 to 28 of the Explanatory Notes.

The timing and construction of these estimates are as follows:

TOTAL CAPITAL EXPENDITURE

Estimate 4 for 2008-09 is $102,675 million. This is an increase of 21.9% from Estimate 4 for 2007-08. The buildings and structures asset class rose 26.6%. Equipment rose 17.0% between these two estimates. Mining (47.7%) showed strong growth between these estimates and contributed 75.4% of the total increase from Estimate 4 for 2007-08. Estimate 4 for Manufacturing rose 12.1% and Other selected industries rose 7.1% in the same period. Estimate 4 rose only 1.6% from Estimate 3 of 2008-09 after strong rises in the estimate for 2008-09 in the two preceding quarters. By asset class, equipment rose 3.4% and buildings and structures was essentially flat.

BUILDINGS AND STRUCTURES

The buildings and structures Estimate 4 for 2008-09 is $55,139 million and rose 26.6% when compared to Estimate 4 for 2007-08. Mining (45.9%) and Manufacturing (25.7%) showed strong growth between these estimates for buildings and structures while Other selected industries rose 2.4%. Mining has contributed 87.7% of the increase in Estimate 4 for the buildings and structures asset class between 2007-08 and 2008-09. Estimate 4 is relatively flat when compared to Estimate 3 for 2008-09. Mining increased marginally (2.5%) while Other selected industries (-3.4%) and Manufacturing (-2.7%) fell between these two estimates.

EQUIPMENT, PLANT AND MACHINERY

Estimate 4, at $47,536m is 17.0% higher in 2008-09 than Estimate 4 for equipment, plant and machinery in the previous year. Mining (53.1%) was the major driver of this increase. Estimate 4 is 3.4% higher than Estimate 3 for 2008-09. This growth is balanced across Mining (3.7%), Other selected industries (3.6%) and Manufacturing (2.4%).

MINING

Estimate 4 for Mining, 2008-09 is $43,168 million which is 47.7% higher than Estimate 4 of the previous year. Both asset classes have been strong between these estimates. Equipment, plant and machinery rose 53.1% and buildings and structures rose 45.9%. Estimate 4 rose 2.8% when compared to Estimate 3 of 2008-09. Equipment, plant and machinery rose 3.7% and buildings and structures rose 2.5% between these estimates.

MANUFACTURING

The fourth estimate for Manufacturing, 2008-09 is $14,028 million which is 12.1% higher than the corresponding estimate in 2007-08. Buildings and structures rose 25.7% and equipment, plant and machinery rose 5.9% between these estimates. Estimate 4 for Manufacturing 2008-09 rose only 0.6% on Estimate 3 for 2008-09. Equipment, plant and machinery rose 2.4% between these estimates while buildings and structures fell 2.7%.

OTHER SELECTED INDUSTRIES

Estimate 4 for Other selected industries, 2008-09 is $45,480 million and 7.1% higher than Estimate 4 of 2007-08. By asset class, equipment, plant and machinery rose 10.5% and buildings and structures rose 2.4%. Estimate 4 rose only 0.7% on Estimate 3 for 2008-09. By asset class, equipment, plant and machinery rose 3.6% while buildings and structures fell 3.4%.