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

March 2016

Release date: 1 June 2016
Next release: 7 September 2016

In the March quarter 2016, national gross domestic product (GDP) grew by $4418 million (up 1.1 per cent). This increase was driven by increases in mining, which grew by $2274 million (up 6.2 per cent), and finance, which grew by $657 million (up 1.8 per cent). These increases were partially offset by decreases in construction, which fell by $345 million (down 1.1 per cent), and rental and real estate, which fell by $189 million (down 1.5 per cent).

In the year to March quarter 2016, the largest growth in gross value add has been in mining, up $3906 million (11.2 per cent), finance, up $1831 million (5.2 per cent), and public administration, up $1493 million (6.9 per cent).

GVA in $m for the Finance, Health Care, Mining, Manufacturing, Construction and Professional industries from Mar 06 to Mar 16. See the table below for full data. 

Industry March quarter 2016 ($ million) Change since December quarter 2015, $ million (%) Annual change to March quarter 2016, $ million (%) Quarterly contribution to GDP growth (%)
Agriculture 9245 228 (2.5) 47 (0.5) 0.05
Mining 38,935 2274 (6.2) 3906 (11.2) 0.55
Manufacturing 24,366 52 (0.2) -706 (-2.8) 0.01
Utilities 11,224 -38 (-0.3) 207 (1.9) -0.01
Construction 32,094 -345 (-1.1) 611 (1.9) -0.08
Wholesale 16,973 174 (1.0) 357 (2.1) 0.04
Retails trade 18,689 148 (0.8) 628 (3.5) 0.04
Hospitality 9817 148 (1.5) 77 (0.8) 0.04
Transport 18,654 -58 (-0.3) 68 (0.4) -0.01
ICT 12,653 26 (0.2) 654 (5.5) 0.01
Finance 37,327 657 (1.8) 1831 (5.2) 0.16
Rental and real estate 12,107 -189 (-1.5) 840 (7.5) -0.05
Professional 23,843 112 (0.5) -404 (-1.7) 0.03
Admin 10,393 -113 (-1.1) -327 (-3.1) -0.03)
Public admin 23,179 549 (2.4) 1493 (6.9) 0.13
Education 19,447 127 (0.7) 504 (2.7) 0.03
Health care 27,168 180 (0.7) 952 (3.6) 0.04
Arts and rec 3346 28 (0.8) 166 (5.2) 0.01
Other services 7323 -179 (-2.4) -183 (-2.4) -0.04
GDP 420,023 4418 (1.1) 12,707 (3.1 -

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: 23 September 2016