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1301.0 - Year Book Australia, 2003  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 24/01/2003   
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Contents >> National Accounts >> National income account

The national income account shows the sources of national income and how much of this income is spent on final consumption. That part of income which is not spent in this way is saving. Tables 29.9 and 29.10 show the income account for a number of years between 1965-66 and 2000-01; table 29.9 shows a series of snapshots at five-yearly intervals to 1990-91, while table 29.10 shows annual time series from 1993-94 to 2000-01.


29.9 NATIONAL INCOME ACCOUNT, Current prices - Five-yearly intervals

1965-66
1970-71
1975-76
1980-81
1985-86
1990-91
$m
$m
$m
$m
$m
$m

INCOME

Compensation of employees
11,329
19,320
43,919
75,044
123,434
192,723
Gross operating surplus
5,096
9,175
17,299
36,169
68,337
118,690
Gross mixed income
4,638
6,343
10,704
19,904
28,738
42,545
Taxes less subsidies on production and imports
2,079
3,151
7,895
14,753
27,805
43,407
Net primary income from non-residents
-308
-600
-1,202
-2,397
-6,853
-17,224
Gross national income
22,834
37,389
78,615
143,473
241,461
380,141
Net secondary income from non-residents
-90
-110
-287
-441
-384
453
Gross disposable income
22,744
37,279
78,328
143,032
241,077
380,594

USE OF DISPOSABLE INCOME

Final consumption expenditure
General government
3,146
5,547
14,715
27,123
49,760
74,663
Households
13,746
21,515
45,459
84,097
144,502
233,726
Total
16,892
27,062
60,174
111,220
194,262
308,389
Net saving(a)
1,916
3,752
5,979
9,691
7,379
7,827
Consumption of fixed capital
3,936
6,465
12,174
22,120
39,435
64,378
Total use of gross disposable income
22,744
37,279
78,328
143,032
241,077
380,594

(a) Net saving is derived as a balancing item.

Source: Australian System of National Accounts (5204.0).


29.10 NATIONAL INCOME ACCOUNT, Current prices - Annual intervals

1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-2000
2000-01
$m
$m
$m
$m
$m
$m
$m
$m

INCOME

Compensation of employees
211,802
224,450
241,100
257,968
268,912
287,086
302,312
322,638
Gross operating surplus
141,384
146,011
153,623
161,658
176,833
181,186
196,137
206,349
Gross mixed income
44,465
46,138
49,064
48,500
50,929
53,590
57,666
58,292
Taxes less subsidies on production and imports
49,363
54,749
59,041
61,760
64,555
69,730
73,097
82,788
Net primary income from non-residents
-13,534
-18,117
-19,533
-19,151
-18,091
-18,189
-19,346
-19,571
Gross national income
433,480
453,231
483,295
510,735
543,138
573,403
609,866
650,496
Net secondary income from non-residents
-132
-323
64
-21
22
-749
218
178
Gross disposable income
433,348
452,908
483,359
510,714
543,160
572,654
610,084
650,674

USE OF DISPOSABLE INCOME

Final consumption expenditure
General government
84,441
87,736
92,955
96,176
101,332
108,215
118,038
125,189
Households
265,897
282,870
301,069
314,565
335,101
354,951
374,712
402,685
Total
350,338
370,606
394,024
410,741
436,433
463,166
492,750
527,874
Net saving(a)
9,238
6,038
10,717
19,600
20,567
18,173
19,672
18,508
Consumption of fixed capital
73,773
76,264
78,617
80,376
86,160
91,316
97,663
104,292
Total use of gross disposable income
433,348
452,908
483,359
510,714
543,160
572,654
610,084
650,674

(a) Net saving is derived as a balancing item.

Source: Australian System of National Accounts (5204.0).


Graph 29.11 shows net saving by institutional sector as a proportion of GDP for the years 1965-66 to 2000-01. Household net saving as a percentage of GDP generally rose between 1965-66 and 1974-75, but has fallen subsequently from its high of 11.1% in 1974-75 to just 2.5% in 2000-01 ($16.9b). General government net saving was negative from 1974-75 to 1996-97 (except for 1988-89 and 1989-90). In 2000-01 it was just positive at $0.2b. In 2000-01 net saving of non-financial corporations was -1.1% of GDP (-$7.4b). Net saving of financial corporations was negative from 1982-83 to 1986-87, the only period for which this sector has recorded negative net saving. In 2000-01 net saving of financial corporations was 1.3% of GDP ($8.8b).


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