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1384.6 - Statistics - Tasmania, 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 17/01/2005   
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Contents >> Industry overview >> Contribution of industries to the economy

The contribution of various industries to the Tasmanian economy can be assessed in terms of their contribution to Gross State Product (GSP). GSP is the total market value of goods and services produced in Tasmania within a given period after deducting the cost of goods and services used up in the process of production, but before deducting allowances for the consumption of fixed capital.

In 2003-04, major industries in terms of contribution to GSP, based on factor incomes (i.e. the sum of compensation of employees, gross operating surplus and gross mixed income) were Manufacturing (13.7%), Health and community services (9.0%), Retail trade (6.7%), and Construction (6.5%) and Finance and insurance (6.5%).

Compensation of employees includes wages and salaries, employer contributions to pension and superannuation funds, and premiums paid by employers to workers' compensation schemes. In 2003-04, some 14.7% of Tasmania's compensation of employees was in Health and community services, 13.4% was in Manufacturing and 10.5% was in Government administration and defence.

Gross operating surplus and gross mixed income is defined as gross value added minus compensation of employees, minus taxes on production and imports payable plus subsidies receivable. In 2003-04, some 14.1% of Tasmania's gross operating surplus and gross mixed income was in Manufacturing, 9.9% was in Electricity, gas and water supply, 9.0% was in Construction and 8.6% was in Agriculture, forestry and fishing.

TOTAL FACTOR INCOME BY INDUSTRY AND PRINCIPAL COMPONENTS, Tasmania - 2003-04

Compensation of employees
Gross operating surplus and gross mixed income
Total factor income

Industry
$m
% of Tas.
total
$m
% of Tas.
total
$m
% of Tas.
total

Agriculture, forestry and fishing
207
3.0
524
8.6
731
5.7
Mining
121
1.8
49
0.8
170
1.3
Manufacturing
913
13.4
860
14.1
1,773
13.7
Electricity, gas and water supply
142
2.1
604
9.9
746
5.8
Construction
287
4.2
549
9.0
836
6.5
Wholesale trade
341
5.0
185
3.0
526
4.1
Retail trade
560
8.2
306
5.0
866
6.7
Accommodation, cafes and restaurants
250
3.7
101
1.7
351
2.7
Transport and storage
379
5.5
295
4.8
674
5.2
Communication services
154
2.3
173
2.8
327
2.5
Finance and insurance
371
5.4
471
7.7
842
6.5
Property and business services
397
5.8
301
4.9
698
5.4
Government administration and defence
717
10.5
..
..
717
5.6
Education
647
9.5
17
0.3
664
5.1
Health and community services
1,001
14.7
157
2.6
1,158
9.0
Cultural and recreational services
101
1.5
79
1.3
180
1.4
Personal and other services
241
3.5
64
1.1
305
2.4
Ownership of dwellings
..
..
992
16.3
992
7.7
General government
..
..
358
5.9
358
2.8
All industries
6,829
100.0
6,085
100.0
12,914
100.0

.. not applicable

Source: Australian National Accounts: State Accounts (cat. no. 5220.0).


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