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ECONOMIC CONTRIBUTION OF THE SERVICE INDUSTRIES SECTOR
Service industries are the largest component of the Australian economy in terms of number of businesses, employment and gross value added (GVA). Information on the relationship between industry GVA and gross domestic product (GDP) is provided in the Industry Structure and Performance chapter.
In 2003-04 the largest service industry, in terms of industry GVA (in current prices) was the property and business services industry, which accounted for 10.5% of GDP, followed by the finance and insurance services industry (7.6%).
The property and business services industry recorded the largest percentage increase in GVA over the period 1998-99 to 2003-04 (27%), or an average annual growth rate of 4.9% (using chain volume measures). The next largest growth rate over the period was recorded by the retail trade, and the transport and storage industries, both increasing by 25% over the 5-year period, or an average annual growth rate of 4.6%. The smallest growth in industry GVA was that of the education industry, with an increase of 7% (table 20.1).
20.1 INDUSTRY GROSS VALUE ADDED(a), Chain volume measures(b)
|
 | 1998-99 | 2003-04 | Average annual
growth from
1998-99 to
2003-04 |
| $m | $m | % |
|
| Wholesale trade | 34,872 | 42,164 | 3.9 |
| Retail trade | 33,784 | 42,321 | 4.6 |
| Accommodation, cafes and restaurants | 13,848 | 16,468 | 3.5 |
| Transport and storage | 31,346 | 39,164 | 4.6 |
| Communication services | 17,564 | 20,986 | 3.6 |
| Finance and insurance services | 49,435 | 60,445 | 4.1 |
| Property and business services(c) | 64,649 | 82,149 | 4.9 |
| Government administration and defence | 26,540 | 30,125 | 2.6 |
| Education | 31,296 | 33,547 | 1.4 |
| Health and community services | 36,821 | 45,398 | 4.3 |
| Cultural and recreational services | 11,802 | 13,585 | 2.9 |
| Personal and other services | 15,501 | 17,716 | 2.7 |
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(a) At basic prices, which include subsidies, but are before any taxes on products.
(b) Reference year for chain volume measures is 2002-03.
(c) Excludes ownership of dwellings.
Source: Australian System of National Accounts (5204.0). |
EMPLOYMENT IN SERVICE INDUSTRIES
Average annual total employment in the service industries in 2004-05 was 7,327,500 people (table 20.2), which represented 75% of all employment.
The largest employing service industry was retail trade, with average annual employment in 2004-05 of 1,489,400 people, accounting for 20% of total services employment. Other large employing industries were property and business services (1,130,300 people), health and community services (996,000 people), and education (676,800 people).
In the period 2000-01 to 2004-05, average annual employment in the service industries increased by 673,300 people or 10%, representing an average annual growth rate of 2%. The strongest employment growth in the 5-year period since 2000-01 occurred in government administration and defence, with a 22% increase from 367,400 to 449,300 people. The largest increase in employed persons occurred in retail trade (174,700), followed by health and community services (120,900). Cultural and recreational services increased by 16% over the period, while personal and other services increased by 14%. Communication services employment was stable.
20.2 EMPLOYED PERSONS(a) |
|
| 2000-01 | 2004-05 | Average annual
growth from
2000-01 to
2004-05 |
| Industry | '000 | '000 | % |
|
| Wholesale trade | 434.1 | 440.2 | 0.3 |
| Retail trade | 1,314.7 | 1,489.4 | 2.5 |
| Accommodation, cafes and restaurants | 466.8 | 502.8 | 1.5 |
| Transport and storage | 418.5 | 454.5 | 1.7 |
| Communication services | 181.0 | 180.6 | - |
| Finance and insurance | 335.2 | 357.9 | 1.3 |
| Property and business services | 1,075.5 | 1,130.3 | 1.0 |
| Government administration and defence | 367.4 | 449.3 | 4.1 |
| Education | 621.4 | 676.8 | 1.7 |
| Health and community services | 875.1 | 996.0 | 2.6 |
| Cultural and recreational services | 224.4 | 260.9 | 3.1 |
| Personal and other services | 340.0 | 388.8 | 2.7 |
| Total | 6,654.1 | 7,327.5 | 1.9 |
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(a) Annual average of quarterly data.
Source: Labour Force, Australia, Detailed - Electronic delivery (6291.0.55.001). |
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