5260.0.55.001 - Information paper: Experimental Estimates of Industry Multifactor Productivity, 2007  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 07/09/2007  First Issue
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Contents >> Summary of results >> Growth accounting

GROWTH ACCOUNTING

Value added

Table 2.27 presents a growth accounting analysis for the market sector industries for the period 1985-86 to 2005-06, that is, the contributions to value added growth from growth in MFP and growth in inputs. The table shows that for Agriculture, forestry & fishing and Electricity, gas & water MFP growth was the largest contributor to their value added growth. To a lesser extent MFP growth was a significant contributor to value added growth in Wholesale trade, Transport & storage and Communication services.


For Mining, growth in capital services was the biggest contributor to its value added growth. Capital services contributed positively to value added growth in all industries. While for Cultural & recreational services, Accommodation, cafes & restaurants, Retail trade and Construction, hours worked was the biggest contributor to value added growth.

2.27 Growth accounting analysis, Contributions to value added growth - 1985-86 to 2005-06

Value added
Capital services
Hours worked
MFP
%
% pts
% pts
% pts

Agriculture, forestry & fishing
2.6
0.2
-0.6
3.0
Mining
3.5
3.0
0.4
0.2
Manufacturing
1.7
1.1
-0.1
0.7
Electricity, gas & water
2.0
1.2
-0.6
1.4
Construction
3.9
1.0
2.3
0.7
Wholesale trade
3.6
1.5
0.5
1.5
Retail trade
3.1
1.1
1.3
0.7
Accommodation, cafes & restaurants
3.8
1.4
2.5
-
Transport & storage
3.7
1.1
0.8
1.7
Communication services
7.7
3.6
0.5
3.6
Finance & insurance
4.6
1.9
0.9
1.8
Cultural & recreational services
3.2
1.7
2.2
-0.6
Market sector
3.3
1.4
0.7
1.2

- nil or rounded to zero (including null cells)
Contributions may not add due to rounding.



Gross output

The contributions to growth in gross output from growth in MFP and growth in inputs are presented in table 2.28 and are for the period 1994-95 to 2004-05. Agriculture, forestry & fishing showed the highest relative contribution to output growth from MFP. Other industries with relatively high contributions to output growth from MFP were Wholesale trade, Retail trade and Transport & storage. The capital services contribution to growth in gross output for Mining was much stronger than in any other industry. Accommodation, cafes & restaurants and Retail trade had the strongest contributions of hours worked growth to gross output growth. With the exceptions of Agriculture, forestry & fishing and Mining, intermediate inputs contributed the most to the industries' growth in gross output.

2.28 Growth accounting analysis, Contributions to gross output growth - 1994-95 to 2004-05

Gross output growth
Capital services
Hours worked
Intermediate inputs
MFP
% pts
% pts
% pts
% pts
% pts

Agriculture, forestry & fishing
4.8
0.1
-0.3
2.1
2.7
Mining
2.4
1.8
0.2
1.0
-0.5
Manufacturing
1.6
0.5
-0.1
1.0
0.3
Electricity, gas & water
1.7
1.0
-
1.1
-0.3
Construction
5.5
0.3
0.7
3.9
0.6
Wholesale trade
4.0
0.7
-
2.3
1.1
Retail trade
3.8
0.6
0.6
1.7
0.8
Accommodation, cafes & restaurants
4.2
0.5
0.8
2.2
0.6
Transport & storage
4.4
0.5
0.4
2.6
1.0
Communication services
6.6
2.1
0.4
3.2
1.1
Finance & insurance
5.2
1.3
0.5
2.5
0.9
Cultural & recreational services
4.2
0.7
0.6
2.5
0.4

- nil or rounded to zero (including null cells)
Contributions may not add due to rounding.



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