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1384.6 - Statistics - Tasmania, 2008  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 26/02/2007  Ceased
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Contents >> Industry overview >> Economic growth, Gross State Product (GSP)

Gross State Product (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.

Tasmania's Gross State Product (GSP) for 2005-06 was $16.5 billion, an increase of $492.0 billion or 3.1% on the 2004-05 figure. Of the $16.5 billion GSP recorded in 2005-06, the largest component, $11.2 billion (67.9% of total), was from household final consumption expenditure. Some $4.0 billion (24.3% of total) was from government final consumption expenditure.

COMPONENTS OF GROSS STATE PRODUCT, Tasmania - Chain Volume Measures(a)

2000-01
2001-02
2002-03
2003-04
2004-05
2005-06

$m
$m
$m
$m
$m
$m

Government final consumption expenditure
3382
3512
3607
3800
3900
4017
Household final consumption expenditure
9071
9342
9586
10253
10862
11243
Private gross fixed capital formation
1861
2379
2458
2905
3319
3679
Public corporations gross fixed capital formation
225
551
363
434
409
460
General government gross fixed capital formation
299
340
355
360
472
461
State final demand
14835
16129
16367
17751
18962
19860

International trade - exports of goods
2576
2618
2746
2578
2641
2574
Less international trade - imports of goods
431
443
686
679
601
498
International trade - exports of services
329
283
281
283
319
353
Less international trade - imports of services
183
240
172
186
226
206
Balancing item(b)
-3313
-3767
-3611
-4329
-5041
-5537

Gross State Product(c)
13813
14580
14926
15418
16054
16546

(a) Reference year for chain volume measures is 2004-05.
(b) Calculated as the residual of GSP less state final demand less international trade in exports of goods and services, plus international trade in imports of goods and services. The balancing item implicitly comprises changes in inventories, total net interstate trade and statistical discrepancy.
(c) Experimental series. Users are cautioned that these estimates are derived indirectly by calculating a deflator from the expenditure component of the state series concerned. Therefore, in general, the sum of the state estimates does not equal the estimates for Australia. It is emphasised that, at times, there may be movements that cannot be fully explained in the chain volume estimates of GSP through the use of this proxy deflator (see Technical Note on page vi of the 1993-94 issue of Australian National Accounts: State Accounts - cat. no. 5220.0).
Source: Australian National Accounts, State Accounts (cat. no. 5220.0).


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