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King Island Council area

Gross Regional Product

King Island Council area’s Gross Regional Product was $0.14 billion in the year ending June 2016, growing 3.0% 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 Region. 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

King Island Council area - Gross Regional Product measures
Year ending JuneHeadline GRP $m% change from previous yearLocal industry GRP $mLocal residents GRP $mLocal industry to residents ratio
2016145+3.073750.97
2015141+4.274780.95
2014135-2.874770.97
2013139-2.773740.99
2012143+6.083831.00
2011135+4.087880.98
2010129-1.287890.98
2009131+3.493950.98
2008127-3.197980.98
2007131+3.791920.99
2006126+6.081811.00
2005119+3.175760.99
2004115+13.867680.99
2003101-1.662630.98
2002103+1.456570.98
2001102--56580.98

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.

King Island Council area - Gross Regional Product
King Island Council area - Gross Regional Product 2001, Resident GRP: 58 million 2002, Resident GRP: 57 million 2003, Resident GRP: 63 million 2004, Resident GRP: 68 million 2005, Resident GRP: 76 million 2006, Resident GRP: 81 million 2007, Resident GRP: 92 million 2008, Resident GRP: 98 million 2009, Resident GRP: 95 million 2010, Resident GRP: 89 million 2011, Resident GRP: 88 million 2012, Resident GRP: 83 million 2013, Resident GRP: 74 million 2014, Resident GRP: 77 million 2015, Resident GRP: 78 million 2016, Resident GRP: 75 million 2001, Industry GRP: 56 million 2002, Industry GRP: 56 million 2003, Industry GRP: 62 million 2004, Industry GRP: 67 million 2005, Industry GRP: 75 million 2006, Industry GRP: 81 million 2007, Industry GRP: 91 million 2008, Industry GRP: 97 million 2009, Industry GRP: 93 million 2010, Industry GRP: 87 million 2011, Industry GRP: 87 million 2012, Industry GRP: 83 million 2013, Industry GRP: 73 million 2014, Industry GRP: 74 million 2015, Industry GRP: 74 million 2016, Industry GRP: 73 million 2001, Headline GRP: 102 million 2002, Headline GRP: 103 million 2003, Headline GRP: 101 million 2004, Headline GRP: 115 million 2005, Headline GRP: 119 million 2006, Headline GRP: 126 million 2007, Headline GRP: 131 million 2008, Headline GRP: 127 million 2009, Headline GRP: 131 million 2010, Headline GRP: 129 million 2011, Headline GRP: 135 million 2012, Headline GRP: 143 million 2013, Headline GRP: 139 million 2014, Headline GRP: 135 million 2015, Headline GRP: 141 million 2016, Headline GRP: 145 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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