7123.1.55.001 - Agricultural State Profile, New South Wales, 2004-05

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 25/07/2006

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Contents >> Agriculture >> Agriculture and the Economy

The contribution of agriculture to the NSW 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 2003-04, the gross value of agricultural production for NSW was $8.5 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 2004-05, the GFP for NSW was calculated to be $5.1 billion, or 1.7% of gross state product; and
the value of exports of agricultural commodities from NSW (i.e. export products sourced from the agriculture industry), which amounted to $1.5 billion in 2004-05.

GROSS FARM PRODUCT, NSW


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

Gross Farm Product (GFP) ($m)	5,305	6,488	4,835	4,857	5,098
Gross State Product (GSP) ($m)	247,208	260,307	275,358	290,746	305,437
GFP as % of GSP	2.1	2.5	1.8	1.7	1.7

Source: Australian National Accounts: State Accounts (cat. no. 5220.0).