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1301.0 - Year Book Australia, 2002  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/01/2002   
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Contents >> Industry Overview >> Profits, wages and output

Table 13.2 presents broadly the profits of businesses (referred to as gross operating surplus and gross mixed income) and the wages income of employees (referred to as compensation of employees) for 1999-2000, the change over 1998-99, and the average annual rate of growth over the years from 1991-92.

The table shows that profits rose in 1999-2000 in all industries except Retail Trade (down 4%) and Manufacturing (down 0.2%). The average for profits across all industries increased 8% in 1999-2000 over 1998-99. From 1991-92 to 1999-00 profits grew by an average of 6% per year.

The strongest increases in profits in 1999-2000 were recorded for Personal and other services (27%), Mining (22%) and Finance and insurance (18%). In the period from 1991-92 to 1999-00, there was an average annual increase in profits for all industries. Over this period, Personal and other services showed an average annual increase in profits of 13%, while profits for Communication services increased on average by 9%.

The table also shows the growth in wages. Movements in wages correlate with employment in the industry and average wages per person employed. The Personal and other services and Construction industries showed the largest increase (12%) in wages in 1999-2000.

The largest annual increase over the period from 1991-92 to 1999-2000 was recorded in the Property and business services industry (up by 11%), followed by the Culture and recreation industry (up 8%).

Wages in the Accommodation, cafes and restaurants industry rose by 11% in 1999-2000, with an average annual increase of 6% over the years from 1991-92 to 1999-00.

Wages in the Electricity, gas and water supply industry rose by 3% in 1999-2000, but recorded an average annual decrease of 4% over the years from 1991-92 to 1999-2000. In contrast, the Mining industry showed a decrease of 2% in wages for 1999-00, but over the eight years to 1999-2000 Mining showed an average annual growth in wages of 3% per year.


13.2 PROFITS AND WAGES, By Industry

Profits (GOS(a) and GMI(b))
Wages (Compensation of
employees(c))


Industry
1999-00

$m
Change from
1998-99

%
Average annual rate of growth 1991-92
to 1999-00

%
1999-00

$m
Change from
1998-99

%
Average annual rate of growth 1991-92
to 1999-00

%

Agriculture, forestry and fishing
13,666
4.6
6.4
4,409
1.5
5.5
Mining
20,920
22.1
5.2
5,683
-1.5
2.7
Manufacturing
32,724
-0.2
6.8
40,863
5.8
4.2
Electricity, gas and water supply
8,345
12.8
0.1
3,329
3.0
-3.9
Construction
18,928
9.0
8.3
17,219
11.6
6.6
Wholesale trade
9,115
2.9
1.5
21,539
2.1
5.1
Retail trade
7,569
-3.6
1.0
23,116
5.2
6.4
Accommodation, cafes and restaurants
4,635
7.9
7.1
7,908
11.0
5.6
Transport and storage
15,371
8.2
5.6
18,322
4.0
4.7
Communication services
10,714
12.6
9.0
7,446
6.5
4.0
Finance and insurance
17,381
17.8
7.8
18,943
6.2
5.8
Property and business services
25,519
14.1
6.0
45,275
8.1
10.9
Government administration and defence
3,210
5.6
4.1
20,109
1.8
4.6
Education
2,926
4.6
6.3
24,649
5.7
5.3
Health and community services
5,760
5.6
6.1
28,091
3.7
4.9
Cultural and recreational services
4,518
3.6
7.0
5,663
8.3
7.9
Personal and other services
4,000
27.2
13.4
10,570
11.9
5.7
Ownership of dwellings
51,613
3.4
5.1
. .
. .
. .
All industries
256,914
7.8
5.7
303,134
5.7
5.7

(a) Gross operating surplus (GOS) in current prices.
(b) Gross mixed income (GMI) in current prices.
(c) This was formerly known as Wages, Salaries and Supplements.

Source: Australian System of National Accounts, 1999-00 (5204.0).


Table 13.3 shows the growth in each industry’s gross value added in terms of chain volume measures, in 1999-2000 and over the longer term as an annual average over the years from 1991-92 to 1999-2000. While current price estimates reflect both price and volume changes, chain volume estimates reflect only volume changes, as the direct effect of price changes has been eliminated from the estimates. For more information on chain volume measures see the section Chain volume or ‘real’ GDP in National accounts.

The three industries showing the largest growth in gross value added in 1999-2000 were Communication services (14%), Mining (10%) and Finance and insurance (10%).

The largest annual average increase in gross value added over the years from 1991-92 to 1999-2000 was recorded in the Communication services industry (11%).


13.3 INDUSTRY GROSS VALUE ADDED(a), Chain Volume Measures(b), By Industry

Industry
1999-00
$m
Change
from
1998-99
%
Average annual rate
of growth 1991-92
to 1999-00
%

Agriculture, forestry and fishing
19,005
5.3
3.9
Mining
26,183
9.8
3.7
Manufacturing
75,560
1.5
2.7
Electricity, gas and water supply
11,314
2.9
2.1
Construction
34,434
2.1
5.9
Wholesale trade
33,942
5.7
5.7
Retail trade
32,737
2.8
3.8
Accommodation, cafes and restaurants
12,692
7.1
4.4
Transport and storage
34,510
3.4
4.0
Communication services
19,549
14.0
11.0
Finance and insurance
41,451
9.7
6.5
Property and business services
72,938
7.9
6.7
Government administration and defence
22,702
-0.3
1.1
Education
26,294
-1.0
2.6
Health and community services
32,771
-1.2
1.8
Cultural and recreational services
10,097
1.2
2.6
Personal and other services
13,225
1.5
2.7
Ownership of dwellings
55,603
4.2
3.8
Taxes less subsidies on products
48,303
10.3
5.6
Statistical discrepancy (production-based)
-2,347
. .
. .
All industries (GDP)
620,963
4.3
4.3

(a) At basic prices.
(b) Reference year for chain volume measures is 1998-99.

Source: Australian System of National Accounts, 1999-2000 (5204.0).


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