GROSS VALUE ADDED
Table 1.2 illustrates the growth of Australian industries over time using chain volume measures of their gross value added. Chain volume measures provide estimates free of the direct effects of price change.
Of the seventeen industries shown in table 1.2, Manufacturing ranked sixteenth in its average annual growth rate over the past 10 years and lowest over the past 25 years, with increases of 1.5% and 1.4% respectively. By comparison, the highest growth rates were recorded by Communication services, with annualised rates of 6.4% and 7.6% for the 10 year and 25 year periods. In 2005-06 Manufacturing recorded a 0.4% decline in gross value added in chain volume terms. The strongest growth in 2005-06, of 9.6%, was recorded by Construction.
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