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1301.0 - Year Book Australia, 2002  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/01/2002   
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Contents >> Introduction >> 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 29.10 and 29.11 show the income account for a number of years between 1965-66 and 1999-2000; table 29.10 shows a series of snapshots at five-yearly intervals to 1990-91, while table 29.11 shows annual time series from 1991-92 to 1999-2000.


29.10 NATIONAL INCOME ACCOUNT, Current Prices - Five-Yearly

1965-66

$m
1970-71

$m
1975-76

$m
1980-81

$m
1985-86

$m
1990-91

$m

Income
Compensation of employees
11,329
19,320
43,919
75,044
123,434
191,491
Gross operating surplus
5,131
9,253
17,359
36,267
68,950
118,891
Gross mixed income
3,919
5,421
9,867
18,745
27,578
40,847
Taxes less subsidies on production and imports
2,087
3,163
7,872
14,733
27,801
43,357
Net primary income from non-residents
-308
-600
-1,202
-2,397
-6,853
-17,222
Gross national income
22,158
36,557
77,815
142,392
240,910
377,364
Net secondary income from non-residents
-63
-25
-133
-164
313
222
Gross disposable income
22,068
36,447
77,528
141,951
240,526
377,586
Use of gross disposable income
Final consumption expenditure -
- General government
3,089
5,498
15,177
27,374
50,249
74,776
- Households
13,401
21,011
44,681
82,877
143,070
232,411
- Total final consumption expenditure
16,490
26,509
59,858
110,251
193,319
307,187
Net saving(a)
2,461
4,674
6,645
10,746
8,884
8,121
Consumption of fixed capital
3,117
5,264
11,025
20,954
38,323
62,278
Total use of gross disposable income
22,068
36,447
77,528
141,951
240,526
377,586

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

Source: Australian System of National Accounts (5204.0).


29.11 NATIONAL INCOME ACCOUNT, Current Prices - Annual

1991-92

$m
1992-93

$m
1993-94

$m
1994-95

$m
1995-96

$m
1996-97

$m
1997-98

$m
1998-99

$m
1999-2000

$m

Income
Compensation of employees
194,718
201,085
210,744
225,462
240,835
257,193
268,646
286,761
303,134
Gross operating surplus
124,536
133,602
141,949
148,066
158,161
164,150
178,091
182,585
197,430
Gross mixed income
40,482
43,437
44,094
45,104
49,228
49,384
53,016
55,715
59,485
Taxes less subsidies on production and imports
42,751
44,181
49,424
54,749
58,751
61,443
64,900
70,356
72,093
Net primary income from non-residents
-14,054
-12,682
-13,534
-18,118
-19,533
-19,307
-18,005
-18,328
-18,591
Gross national income
388,433
409,623
432,677
455,263
487,442
512,863
546,648
577,089
613,550
Net secondary income from non-residents
-134
-350
-339
-528
-171
-177
-75
-778
94
Gross disposable income
388,299
409,273
432,338
454,735
487,271
512,686
546,573
576,311
613,644
Use of gross disposable income
Final consumption expenditure -
- General government
79,729
82,877
85,010
88,021
93,362
96,226
101,291
108,733
117,773
- Households
244,211
255,330
266,278
282,800
301,776
315,235
335,049
353,757
373,313
- Total final consumption expenditure
323,940
338,207
351,288
370,821
395,138
411,461
436,340
462,490
491,086
Net saving(a)
-297
2,752
8,717
9,034
13,638
20,957
24,367
22,312
25,027
Consumption of fixed capital
64,656
68,314
72,333
74,880
78,495
80,268
85,866
91,509
97,531
Total use of gross disposable income
388,299
409,273
432,338
454,735
487,271
512,686
546,573
576,311
613,644

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

Source: Australian System of National Accounts (5204.0).


Graph 29.12 shows net saving by institutional sector as a proportion of GDP for the years 1965-66 to 1999-2000. Household net saving as a percentage of GDP generally rose between 1965-66 and 1974-75, but has fallen subsequently from its high of 12.1% in 1974-75 to just 1.5% in 1999-2000 ($9.7b). General government net saving was negative from 1974-75 to 1996-97 (except for 1988-89 and 1989-90). In 1999-2000 it was 1.1% of GDP ($7.1b). In 1999-2000 net saving of non-financial corporations was 0.8% of GDP ($5.0b). 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 1999-2000 net saving of financial corporations was 0.5% of GDP ($3.2b).



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