Australian Bureau of Statistics
1301.0 - Year Book Australia, 2007
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 24/01/2007
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VALUE OF GOODS AND SERVICES PRODUCED BY AUSTRALIAN INDUSTRY
Graph 13.2 shows the average annual rate of growth in GVA (in volume terms) for individual industries between 1994-95 and 2004-05. The Communication services industry had the highest average annual rate of growth (6.4%), followed by the Property and business services and Construction industries (both 5.1%).
While average annual growth rates provide an indicator of the broad underlying behaviour of the annual series over several years, these averages smooth the annual movements in the series and mask the highest and lowest movements. In terms of year-on-year changes, the fastest growing industry in this period, the Communication services industry, showed strong and relatively steady increases in GVA from 1994-95 to 1998-99. After this period, the year-on-year increases were much lower. In 2004-05 GVA of the Communication services industry rose by 4.6%.
The year-on-year changes for the Agriculture, forestry and fishing industry also varied significantly over time. While the GVA of this industry grew by 4.5% on average each year between 1994-95 and 2004-05, it fell by 24% in the period 2001-02 to 2002-03, due largely to the effects of drought on agricultural production. This was followed by strong growth between 2002-03 and 2003-04, immediately following the 2002-03 drought.
Another industry that has had significant variation in year-on-year changes, especially in recent years, is the Construction industry. In the period 2001-02 to 2002-03, the GVA of the industry grew by 16%, with the previous annual period (2000-01 to 2001-02) also recording strong growth (12%). This growth followed a fall of 14% between 1999-2000 and 2000-01, coinciding with the introduction of The New Tax System in July 2000. On average, GVA of the Construction industry grew by 5.1% each year in the period 1994-95 to 2004-05.
Graph 13.3 shows industry GVA shares of GDP (in current prices) in 1994-95 and 2004-05. The Property and business services industry contributed the largest share to GDP (11.6% or $103b) in 2004-05. This was followed by the Manufacturing industry (11.3% of GDP or $101b). The Finance and insurance industry was the third most important industry in terms of contribution to GDP, contributing 6.9% or $61b.
Between 1994-95 and 2004-05, the largest increase in industry GVA share of GDP was for the Property and business services industry (up 1.7 percentage points). The next largest increases were for the Finance and insurance (1.4 percentage points), and Construction (0.6 percentage points) industries.
In the same period, the largest fall in industry shares of GDP was for Manufacturing (down 2.5 percentage points). The next largest falls were for Transport and storage (0.6 percentage points), Electricity, gas and water supply (0.5 percentage points), and Wholesale trade and Education (both of which had a decrease of 0.3 percentage points).
This page last updated 16 January 2008
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