ACTUAL AND EXPECTED NEW CAPITAL EXPENDITURE


FINANCIAL YEARS AT CURRENT PRICES

The graphs below show the seven estimates of actual and expected expenditure for each financial year. The estimates appearing below relate to data contained in tables 5 and 6. Advice about the application of realisation ratios to these estimates is in paragraphs 25 to 28 of the Explanatory Notes.

The timing and construction of these estimates are as follows:

TOTAL CAPITAL EXPENDITURE

Estimate 7 for total capital expenditure for 2008-09 is $101,134 million. This is 16.9% higher than Estimate 7 for 2007-08. Estimate 7 is 1.4% higher than Estimate 6 for 2008-09.

Estimate 3 for total capital expenditure for 2009-10 is $90,557 million. This is 10.4% lower than Estimate 3 for 2008-09. The key contributors to this decline have been Mining (-9.0%), Other services (-17.8%), Manufacturing (-15.4%) and Property and Business Services (-15.3%). Estimate 3 is 15.4% higher than Estimate 2 for 2009-10. All industries rose between these estimates, with Mining (+17.7%) the most significant contributor.

BUILDINGS AND STRUCTURES

Estimate 7 for buildings and structures for 2008-09 is $51,440 million which is 27.1% higher than Estimate 7 for buildings and structures for 2007-08. Transport (88.3%) and Mining (35.3%) rose strongly in the year between these estimates. Estimate 7 is 0.3% higher than Estimate 6 for 2008-09.

Estimate 3 for buildings and structures for 2009-10 is $48,833 million. This is 11.4% lower than Estimate 3 for 2008-09. The industries contributing most to this difference were Mining (-9.3%) and Other services (-15.1%). Estimate 3 for buildings and structures is 13.4% higher than Estimate 2 for 2009-10. Mining (17.3%) was the dominant contributor to the change between these estimates.

EQUIPMENT, PLANT AND MACHINERY

Estimate 7 for equipment, plant and machinery for 2008-09 is $49,694 million. This is 8.0% higher than the same estimate for 2007-08. Transport (29.0%) and Mining (17.7%) were the major contributors to this increase. Estimate 7 for equipment, plant and machinery is 2.6% higher than Estimate 6 for 2008-09.

Estimate 3 for equipment, plant and machinery for 2009-10 is $41,724 million. This is 9.2% lower than the same estimate for 2008-09. Weakness in Manufacturing (-19.5%) and Other services (-23.2%) have contributed most to this decrease between estimates. Estimate 3 is 18.0% higher than Estimate 2 for 2009-10. By industry, Mining (18.8%) and Transport (30.7%) have been the major contributors to this increase.



MINING

Estimate 7 for Mining for 2008-09 is $35,675 million. This is 30.4% higher than Estimate 7 for 2007-08. Buildings and structures rose 35.3% and equipment, plant and machinery rose 17.7%. Estimate 7 is 0.6% lower than Estimate 6 for 2008-09. Both buildings and structures (-0.8%) and equipment, plant and machinery (-0.2%) were weaker.

Estimate 3 for Mining for 2009-10 is $38,220 million. This is 9.0% lower than the corresponding estimate for 2008-09. Estimate 3 for building and structures is 9.3% lower and equipment, plant and machinery is 7.9% lower than corresponding estimates for 2008-09. Estimate 3 is 17.7% higher than Estimate 2 for 2009-10. By asset type, both building and structures (17.3%) and equipment, plant and machinery (18.8%) are higher.

MANUFACTURING

Estimate 7 for Manufacturing for 2008-09 is $14,004 million. This is 5.8% higher than the corresponding estimate for 2007-08. Buildings and structures rose most significantly (17.4%) between these estimates. Estimate 7 for Manufacturing 2008-09 rose 3.2% from Estimate 6 for 2008-09. Buildings and structures asset class rose 7.6% while Equipment, plant and machinery rose 1.0% between these estimates.

Estimate 3 for Manufacturing for 2009-10 is $11,795 million. This is 15.4% lower than Estimate 3 for 2008-09. Equipment, plant and machinery fell 19.5% while building and structures fell 8.4% between these estimates. Estimate 3 is 9.3% higher than Estimate 2 for 2009-10. Both asset types are higher compared to Estimate 2 with equipment, plant and machinery up 13.5% and buildings and structures up 3.4%.

OTHER SELECTED INDUSTRIES

Estimate 7 for Other selected industries for 2008-09 is $51,455 million. This is 12.1% higher than Estimate 7 for 2007-08. Transport (44.3%) and Other services (13.2%) are the major contributors to this increase. Estimate 7 is 2.4% higher than Estimate 6 for 2008-09. By asset type, equipment, plant and machinery rose 3.9% while buildings and structures rose 0.2%.

Estimate 3 for Other selected industries for 2009-10 is $40,543 million which is 10.2% lower than Estimate 3 for 2008-09. Building and structures is 15.8% lower and equipment, plant and machinery 6.3% lower than Estimate 3 for 2008-09. Estimate 3 is 15.2% higher than Estimate 2 for 2009-10. Transport (19.4%) and Other services (10.7%) rose significantly between these estimates.