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Products and industries

Australian System of National Accounts: Concepts, Sources and Methods
Reference period
2020-21 financial year

Products

5.17    A product is a good or a service.

5.18    One of the main international standards for the classification of products is the Central Product Classification, Version 2 (CPC, Ver. 2.0), which is based on the intrinsic characteristics of the goods or the nature of the services rendered. This results in a classification structure that is different from that used for industries. Its fundamental principle is that the classification combines in one category goods or services that are normally produced in only one industry as defined in ISIC (i.e. industry of origin principle). It covers the production, trade and consumption of all goods and services

Industries

5.19    An industry is defined as ‘a group of establishments engaged in the same, or similar, kinds of activity’.

5.20    The International Standard for the Classification of Industries (ISIC), is a four-level hierarchical classification, which includes in the same industry grouping all establishments with the same principal activity. It takes into account not only the goods produced and services rendered, but also the inputs into the production process and the technology used in the production process.

5.21    A one-to-one correspondence does not exist between activities and products and hence between industries and products. Certain activities produce more than one product simultaneously, while the same product may sometimes be produced by using different techniques of production.

Products and industries in the ASNA

5.22    TAUs are classified to industries according to the Australian and New Zealand Standard Industrial Classification, 2006 (ANZSIC06). ANZSIC06 has been developed by the ABS and Statistics New Zealand for use in both countries for the compilation and analysis of industry statistics. To ensure international comparability, ANZSIC06 is aligned as closely as possible with the ISIC Rev 4.

5.23    ANZSIC06 comprises four levels, namely Divisions (the broadest level), Subdivisions, Groups and Classes (the lowest level). TAUs are defined to be homogeneous at the subdivision level.

5.24    Industry statistics in the ASNA are presented on a basis that is consistent with ANZSIC06. Value added is presented on an ANZSIC06 industry basis at the Division level, and also at the Subdivision level for the Agriculture, forestry and fishing, Mining, Manufacturing, Electricity, gas, water supply and waste services and Transport, postal and warehousing industries. A number of income components of the ASNA are also presented on an ANZSIC06 industry basis. Industry data in the Supply- Use tables (S-U tables) and Input-Output tables (I-O tables) are classified according to the Supply-Use Industry Classification (SUIC) and Input-Output Industry Group (IOIG) respectively, which are based on ANZSIC06. While some of the S-U and I-O industries correspond to a single ANZSIC06 industry class, most SUIC and IOIG industries constitute a grouping of similar ANZSIC06 industries. These groupings are formed to enable the S-U tables and I-O tables to present a balanced picture of the structure of the economy while maintaining comparability between the latest published tables and earlier ones.

5.25     Product statistics in the ASNA concord with the CPC, Ver. 2.0 to at least the three-digit level. Product data in the S-U tables and I-O tables are classified according to the Supply-Use Product Classification (SUPC) and Input-Output Product Classification (IOPC) respectively. Both classifications are