Australian Bureau of Statistics
1301.0 - Year Book Australia, 2002
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/01/2002
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There are three ways of measuring GDP:
While each approach should, conceptually, deliver the same estimate of GDP, if the three measures are compiled independently using different data sources then different estimates of GDP result. However, the Australian national income, expenditure and product estimates have been integrated with annual balanced supply and use tables which are available for 1994-95 to 1998-99. Integration with balanced supply and use tables ensures that the same estimate of GDP is obtained from the three approaches, so that annual estimates using the income, expenditure and production approaches are identical for the years for which supply and use tables are available.
Prior to 1994-95, and for 1999-00, the estimates using each approach are based on independent sources, and there are usually differences between the income, expenditure and production estimates. Nevertheless, for these periods, a single estimate of GDP has been compiled. Table 29.1 shows time series of chain volume measures for GDP, and GDP per capita, from 1973-74 to 1999-2000. (For a discussion of chain volume measures, see the section Chain volume or 'real' GDP.)
The chain volume measure of GDP increased by 4.3% in 1999-2000, following an increase of 5.4% in 1998-99. For some analytical purposes, it is important to allow for the impact of population growth on movements in GDP. Annual growth in GDP per capita has been about one to two percentage points lower than that for GDP since the mid-1970s and was negative in 1977-78, 1982-83, 1990-91 and 1991-92 (graph 29.2). In 1999-2000 GDP per capita increased by 3.0%.
This page last updated 20 August 2007
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