The contribution of agriculture to the Victorian economy can be measured in a number of ways. The most direct measurement available is the gross value of agricultural production, which is the value placed on recorded production at wholesale prices realised in the market place. In 2006-07, the gross value of agricultural production for Victoria was $8.7 billion.
Other measures of the contribution of agriculture to the economy include:
- gross farm product (GFP), which is a measure of the value added in production by farm businesses. In 2006-07, the GFP for Victoria was $5.4 billion, or 2.2% of gross state product; and
- the value of exports of agricultural commodities from Victoria, (i.e export products sourced from the agriculture industry) which amounted to $1.4 billion in 2006-07.
GROSS FARM PRODUCT, VICTORIA
|  |
| Gross Farm Product (GFP)
($m) | Gross State Product (GSP)
($m) | GFP as % of GSP
per cent | |
| |
| 2002-03 | 5 142 | 215 598 | 2.4 | |
| 2003-04 | 6 186 | 225 093 | 2.7 | |
| 2004-05 | 6 251 | 230 516 | 2.7 | |
| 2005-06 | 6 455 | 236 203 | 2.7 | |
| 2006-07 | 5 438 | 242 595 | 2.2 | |
| |
Source: Australian National Accounts: State Accounts (cat. no. 5220.0)
VALUE OF AGRICULTURAL EXPORTS FROM VICTORIA
|
| $'000 |
|
| 2002-03 | 1 715 592 |
| 2003-04 | 1 668 300 |
| 2004-05 | 1 741 460 |
| 2005-06 | 1 443 538 |
| 2006-07 | 1 392 388 |
|
Source: ABS data available on request, International Trade
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