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City of Albany

Gross Regional Product

City of Albany’s Gross Regional Product was $1.91 billion in the year ending June 2016, declining -0.9% since the previous year.

Headline Gross Regional Product (GRP) is a measure of size or net wealth generated by the local economy. Changes in this figure over time can represent changes in employment, productivity or the types of industries in the area.

Local Industry GRP shows the value of the local economy, generated by the local workers within the area regardless of where they live, after taxes and dividends leave the area. It is best thought of as GRP produced by local industries.

Local Residents GRP refers to the economic output of the residents of the area regardless of where they work. It is best thought of as the income received by people in the City. If the Residents GRP is high relative to the Local Industry GRP, this indicates that residents are contributing their economic productivity to other areas (most likely commuting out).

To understand the relative size of these measures and reasons behind the differences, GRP data should be viewed in conjunction with Jobs to workers ratio and Employment self-containment datasets. To understand the main contributors to GRP, this dataset should be viewed in conjunction with industry Value added.

National Economics (NIEIR) - Modelled series

City of Albany - Gross Regional Product measures
Year ending JuneHeadline GRP $m% change from previous yearLocal industry GRP $mLocal residents GRP $mLocal industry to residents ratio
20161,905-0.91,3251,4930.89
20151,923+0.61,3871,5720.88
20141,911-1.11,4131,5860.89
20131,933-5.51,4481,6120.90
20122,045+13.21,4551,6060.91
20111,807+0.81,3761,5020.92
20101,792+0.81,2781,3860.92
20091,778+2.11,3191,4270.92
20081,741+6.31,2661,3650.93
20071,639+8.21,1661,2550.93
20061,515+11.41,0561,1400.93
20051,360+5.19801,0550.93
20041,293+6.59079750.93
20031,214+7.78539120.94
20021,128+6.88318830.94
20011,056--7758210.94

Source: National Institute of Economic and Industry Research (NIEIR) ©2016. Compiled and presented in economy.id by .id , the population experts.

Data is based on 2014-15 constant prices for all years. NIEIR data are inflation adjusted each year to allow direct comparison, and new data releases normally adjust previous years’ figures to a new base year.

City of Albany - Gross Regional Product
City of Albany - Gross Regional Product 2001, Resident GRP: 821 million 2002, Resident GRP: 883 million 2003, Resident GRP: 912 million 2004, Resident GRP: 975 million 2005, Resident GRP: 1,055 million 2006, Resident GRP: 1,140 million 2007, Resident GRP: 1,255 million 2008, Resident GRP: 1,365 million 2009, Resident GRP: 1,427 million 2010, Resident GRP: 1,386 million 2011, Resident GRP: 1,502 million 2012, Resident GRP: 1,606 million 2013, Resident GRP: 1,612 million 2014, Resident GRP: 1,586 million 2015, Resident GRP: 1,572 million 2016, Resident GRP: 1,493 million 2001, Industry GRP: 775 million 2002, Industry GRP: 831 million 2003, Industry GRP: 853 million 2004, Industry GRP: 907 million 2005, Industry GRP: 980 million 2006, Industry GRP: 1,056 million 2007, Industry GRP: 1,166 million 2008, Industry GRP: 1,266 million 2009, Industry GRP: 1,319 million 2010, Industry GRP: 1,278 million 2011, Industry GRP: 1,376 million 2012, Industry GRP: 1,455 million 2013, Industry GRP: 1,448 million 2014, Industry GRP: 1,413 million 2015, Industry GRP: 1,387 million 2016, Industry GRP: 1,325 million 2001, Headline GRP: 1,056 million 2002, Headline GRP: 1,128 million 2003, Headline GRP: 1,214 million 2004, Headline GRP: 1,293 million 2005, Headline GRP: 1,360 million 2006, Headline GRP: 1,515 million 2007, Headline GRP: 1,639 million 2008, Headline GRP: 1,741 million 2009, Headline GRP: 1,778 million 2010, Headline GRP: 1,792 million 2011, Headline GRP: 1,807 million 2012, Headline GRP: 2,045 million 2013, Headline GRP: 1,933 million 2014, Headline GRP: 1,911 million 2015, Headline GRP: 1,923 million 2016, Headline GRP: 1,905 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2016
Compiled and presented in economy.id by .id the population experts

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