Australian System of National Accounts

Latest release

Annual estimates of key economic measures, including GDP, consumption, investment, income, capital stock, productivity and balance sheets

Reference period
2022-23 financial year

Key statistics

  • The Australian economy grew 3.0% in chain volume terms in 2022-23
  • Labour productivity fell 3.7%
  • The household saving ratio decreased to 4.3% from 12.6%
  • National net worth rose $1.3 trillion to $19.0 trillion
2022-23 key figures, percentage changes
Chain volume GDP and related measures (a)
 GDP per capita (b)0.6-
 Gross value added market sector (c)1.7-
 Real net national disposable income3.
 GDP per hour worked0.
 Gross value added per hour worked market sector (c)
 Real unit labour costs-0.7-1.4-
 GDP chain price index3.
 Terms of trade5.72.010.311.8-0.5
Current price measures
Saving and wealth
 Household saving ratio5.912.515.212.64.3
 National net saving ($ billions)98.7120.7176.5192.3191.4
 National net worth ($ trillions)

Table shows change on preceding financial year, except for the saving and wealth measures.
a. Reference year for chain volume measures and real income measures is 2021-22.
b. Population estimates are as published in National, state and territory population and ABS projections.
c. ANZSIC divisions A to N, R and S. See Glossary - Market sector, in Methodology.

Revisions and changes

Revisions in this issue

This issue of the Australian System of National Accounts incorporates the 2021-22 annual supply and use tables. For information on the role of supply and use tables in the national accounts, see the 2021-22 supply and use tables section below. The 3.0% growth in GDP for 2022-23 is a 0.4 percentage point downward revision from the result published in June quarter 2023. There are also revisions to component series arising from the 2021-22 supply use benchmarks, new source data and data confrontation to balance the accounts. 

This issue incorporates improved source data and methodology for international trade in services deflators, implemented from 2019-20.

There are revisions to total gross mixed income (GMI) and by industry, for 2021-22 and 2022-23. GMI has been revised down due to revisions to 2021-22 Supply Use Gross Operating Surplus and Mixed Income (GOSMI) benchmarks and the implementation of updated source data in the method used to split GMI from GOSMI. The unincorporated units collected as part of the 2021-22 annual Economic Activity Survey (EAS), were used to supplement Australian Taxation Office unincorporated data to improve the method of separating GMI estimates from GOSMI. The new revised estimates of GMI indicate that previous GMI estimates were overstated especially when the economy was recovering from COVID-19 restrictions. The key series impacted by the revised GMI estimate was household net savings.

2021-22 supply and use tables

The ABS compiles supply and use (SU) tables to generate balanced annual estimates of Gross Domestic Product (GDP). The SU tables are compiled from 1994-95 to 2021-22 and result in the annual statistical discrepancies for this period being zero. Years prior to 1994-95 have a non-zero statistical discrepancy because SU tables have not been compiled, and so the data remain unbalanced. Similarly, estimates for the latest year (in this case 2022-23) have a statistical discrepancy because SU tables have not yet been constructed.

The supply table measures the goods and services produced in Australia and imports, while the use table measures the use of goods and services for intermediate consumption, final consumption, gross fixed capital formation, changes in inventories and exports. Domestic supply and intermediate consumption are cross-classified by industry and product categories, while the other components are simply classified by product category. The use table also provides information on the generation of income from production for each industry.

A large number of data sources are used to compile the national accounts, such as business activity surveys, household expenditure surveys, investment surveys, foreign trade statistics and government finance statistics. Revisions have been made to SU tables in 2019-20 and 2020-21 resulting from new and updated information received from these sources. Additionally, the SU tables have been revised in line with the updates made though the targeted historical revisions applied to the Australian National Accounts, see Improved estimates of the Annual National Accounts: Results of the 2023 historical revisions for further information.

The September quarter 2023 issue of Australian National Accounts: National Income, Expenditure and Product, to be released on 6 December 2023, will also incorporate these revisions.

The SU tables are available for download on the ABS.Stat website ( Data from the SU tables are used to construct the Australian National Accounts: Input-Output Tables. These products present structural detail underlying the Australian economy and provide weights for price indexes.

If you require further information on the changes, please contact

Related national accounts products

Australian National Accounts: Supply Use Tables 

The 2021-22 issue of Australian National Accounts: Supply Use Tables for the period 1994-95 to 2021-22 was published on 27 October 2023. The Supply Use tables were introduced in the annual National Accounts in 1998 as an integral part of the annual compilation of the Australian System of National Accounts. They are used to ensure Gross Domestic Product is balanced for all three approaches (production, expenditure and income) and provide the annual benchmarks from which the quarterly estimates are compiled. 

Upcoming releases

Estimates of Industry Level KLEMS Multifactor Productivity

The 2021-22 issue of Estimates of Industry Level KLEMS Multifactor Productivity will be released on 15 November 2023. Since 2016, the ABS has published estimates of industry level KLEMS MFP for the 16 market sector industries. The term KLEMS represents the five input categories - Capital (K), Labour (L), Energy (E), Materials (M) and Services (S). By explicitly identifying the role of intermediate inputs in the production process, KLEMS facilitates a more rigorous analysis of the determinants of output growth at the industry level. 

Australian National Accounts: State Accounts

The 2022-23 issue of the Australian National Accounts: State Accounts will be released on 21 November 2023. 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 chain volume terms, from 1989-90 onwards. It provides detailed annual estimates of Gross state product (GSP) for all states and territories. These are estimated using the expenditure, income, and production approaches. The estimates in this publication are consistent with those published for Australia in the Australian System of National Accounts.

Australian National Accounts: National Income, Expenditure and Product

The September quarter 2023 issue of Australian National Accounts: National Income, Expenditure and Product will be released on 6 December 2023. It provides quarterly and annual estimates of Australia's National and State Accounts. This includes expenditure, income and production approaches to estimating gross domestic product (GDP), and income accounts for all sectors of the economy. This product also provides estimates of state final demand for each state and territory. Estimates are available in current prices and chain volume measures, and in original, seasonally adjusted, and trend terms.

Estimates of Industry Multifactor Productivity

The 2022-23 issue of Estimates of Industry Multifactor Productivity will be released on 13 December 2023. It provides updated estimates of multifactor productivity (MFP) for the 16 industries defined to comprise the market sector. Longer time series are produced for 12 selected industries. Also included are productivity growth cycles for market sector industries and selected industries aggregates back to 1998-99 and 1973-74, respectively. The release includes experimental estimates of productivity growth cycles for individual industries, sources of aggregate labour productivity growth and its industry origin. Experimental estimates of state productivity back to 1994-95 are also provided.

Australian National Accounts: Finance and Wealth

The September quarter 2023 issue of Australian National Accounts: Finance and Wealth will be released on 21 December 2023. It provides quarterly estimates of the financial flows between sectors of the domestic economy and with the rest of the world. In addition, the publication provides estimates of capital accounts and financial assets and liabilities of each sector and various subsectors. Other key estimates within the publication include the demand for credit by non-financial domestic institutional sectors during the quarter, and their corresponding levels of credit outstanding.

Data downloads

Time series spreadsheets

Data files

Previous catalogue number

This release previously used catalogue number 5204.0.

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