ABOUT THIS PUBLICATION
This publication contains state and territory estimates of Gross domestic product (referred to as gross state product (GSP)) and its components, in current price and volume terms, for the years 1989-90 to 2014-15.
CHANGES IN THIS ISSUE
The estimates in this issue incorporate new and revised national estimates as published in the 2014-15 Australian System of National Accounts (cat. no. 5204.0). This includes the incorporation of the 2013-14 annual supply and use benchmarks, new data and data confrontation to balance the accounts. For information on the role of supply and use tables in the national accounts and the major revisions please see the 'Analysis of Results' section within Australian System of National Accounts 5204.0 publication.
The national revisions impact on all states, although the extent varies between states. This is due to differing state weights of estimates effected by revisions. For example, if a certain state has a large proportion of an industry, then revisions to that industry's national total will have a greater impact upon the result of that state than the other states. Recent years have also had the addition of new and updated data sources that become available throughout the year.
This release of the Australian National Accounts: State Accounts incorporates revisions to the Construction Gross value added estimates back to 1989-90 for each state. The revisions correct a compilation issue where construction activity that occurred overseas was incorrectly incorporated into the state level data. In addition to this, it was identified that Construction Gross value added should be compiled at a lower level in order to better reflect the varying composition and dynamics of the construction industry for each state. The previous method had significant issues in representing the lower level subdivisions, particularly engineering construction activity, which led to an overstatement of activity in some states and an understatement in others. This release incorporates new lower level state based output indicators that better capture the growth and changes in Construction on a state basis.
The estimates in this issue also incorporate the revisions to chain volume estimates of Mining Gross value added that were implemented in the 2014-15 Australian System of National Accounts (cat. no. 5204.0). State based estimates have been corrected to better reflect the underlying commodity data and will result in revisions from 2010-11 onward. These changes impact those states where Mining has a significant presence, particularly Queensland and Western Australia. There will be a full review of the Mining commodities and the Mining GVA time series.
This release also incorporates revisions to the Household Income Account for each state. The revisions correct a compilation issue which occurred in 2011-12 and will result in revisions back to 2010-11.
DATA VALUES AND ROUNDING
All values, unless otherwise indicated, are shown in Australian dollars rounded to the nearest million.
Where figures have been rounded, discrepancies may occur between the sums of the component items and totals.
The 2015-16 issue of this publication is expected to be released in November 2016.