Economic briefing note on gross value added by industry in September 2016

September 2016

Release date: 7 December 2016
Next release: 1 March 2017

Gross Domestic Product (GDP) by industry

In the September quarter 2016, national GDP declined by 0.5 per cent. This contraction was driven by decreases in construction (down 3.6 per cent), and other services (down 4.6 per cent). These decreases were partially offset by increases in agriculture (up 7.5 per cent), and finance (up 0.7 per cent).

In the year to September quarter 2016, the largest growth in gross value add has been in finance (up 5.1 per cent), health care (up 3.5 per cent), and public admin (up 4.4 per cent). 

This chart shows the gross value add by industry in the top 6 industries in September 2016 between September quarter 2006 and September quarter 2016, in billions of dollars. In September quarter 2016 the top 6 industries by gross value add were the Finance, Construction, Health Care, Mining, Professional services, and Manufacturing industries. The finance industry's gross value add in September quarter 2006 was $25.9 billion. Gross value add in finance has trended upwards since the September quarter 2006 and sits at $37.5 billion in September quarter 2016.  The mining  industry's gross value add in September quarter 2006 was $16.5 billion. Gross value add in mining trended upwards between September quarter 2006 and March quarter 2016, when it reached $29.6 billion. Gross value add in the mining industry increased in the September quarter 2016 and sits at $28.5 billion.  The construction industry's gross value add in September quarter 2006 was $23.1 billion. Gross value add in construction trended upwards between September quarter 2006 and March quarter 2016, when it reached $33.8 billion. Gross value add in the construction industry declined in the September quarter 2016 and sits at $32.2 billion. The Health Care industry's gross value add in September quarter 2006 was $18.7 billion. Gross value add in Health Care has trended upwards since the September quarter 2006 and sits at $28.8 billion in September quarter 2016. The Professional services industry's gross value add in September quarter 2006 was $18.6 billion. Gross value add in Professional services has trended upwards since the September quarter 2006 and sits at $26.6 billion in September quarter 2016. The Manufacturing industry's gross value add in September quarter 2006 was $26.9 billion. Gross value add in Manufacturing has trended downwards since the September quarter 2006 and sits at $24.7 billion in September quarter 2016. 

Industry September quarter 2016 ($ million) Change since June quarter 2016, $ million (%) Annual change to September quarter 2016, $ million (%) Contribution to GDP growth September quarter 2016 (%)
Agriculture 9601667 (7.5) 240 (2.6) 2.3
Mining 28,476-229 (-0.8) 579 (2.1) 6.8
Manufacturing 24,657-30 (-0.1) -597 (-2.4) 5.9
Utilities 10,629-68 (-0.6) -9 (-0.1) 2.5
Construction 32,222 -1190 (-3.6) -1272 (-3.8) 7.7
Wholesale 16,594127 (0.8) 600 (3.8) 4.0
Retail trade 18,002-145 (-0.8) 165 (0.9) 4.3
Hospitality 10,00095 (1.0) 220 (2.2) 2.4
Transport 19,695104 (0.5) 44 (0.2) 4.7
ICT 12,062190 (1.6) 552 (4.8) 2.9
Finance 37,492244 (0.7) 1809 (5.1) 9.0
Rental and real estate 12,557-312 (-2.4) 372 (3.1) 3.0
Professional 26,567162 (0.6) 864 (3.4) 6.4
Admin 11,131-157 (-1.4) -161 (-1.4) 2.7
Public admin 22,75016 (0.1) 957 (4.4) 5.4
Education 19,85970 (0.4) 441 (2.3) 4.8
Health care 28,775180 (0.6) 964 (3.5) 6.9
Arts and rec 3425Unchanged75 (2.2) 0.8
Other services 7155-348 (-4.6) -262 (-3.5) 1.7
GDP 417,688-1986 (-0.5) 7235 (1.8) -

Source: Australian Bureau of Statistics (ABS), cat. no. 5206, Australia national accounts: National income, expenditure and product.

Contact

Please email economic.analysis@ecodev.vic.gov.au for more information.

Page last updated: 29 December 2016