Gunnedah Shire CouncilEconomic profile

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Gunnedah Shire

Gross Regional Product

Gunnedah Shire’s Gross Regional Product was $0.63 billion in the year ending June 2016, declining -1.5% 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 Shire. 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

Gunnedah Shire - Gross Regional Product measures
Year ending JuneHeadline GRP $m% change from previous yearLocal industry GRP $mLocal residents GRP $mLocal industry to residents ratio

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

Data is based on 2015-16 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.

Gunnedah Shire - Gross Regional Product
Gunnedah Shire - Gross Regional Product 2001, Resident GRP: 382 million 2002, Resident GRP: 368 million 2003, Resident GRP: 356 million 2004, Resident GRP: 361 million 2005, Resident GRP: 384 million 2006, Resident GRP: 396 million 2007, Resident GRP: 410 million 2008, Resident GRP: 446 million 2009, Resident GRP: 440 million 2010, Resident GRP: 453 million 2011, Resident GRP: 493 million 2012, Resident GRP: 518 million 2013, Resident GRP: 510 million 2014, Resident GRP: 513 million 2015, Resident GRP: 517 million 2016, Resident GRP: 538 million 2001, Industry GRP: 359 million 2002, Industry GRP: 348 million 2003, Industry GRP: 337 million 2004, Industry GRP: 340 million 2005, Industry GRP: 360 million 2006, Industry GRP: 370 million 2007, Industry GRP: 381 million 2008, Industry GRP: 414 million 2009, Industry GRP: 409 million 2010, Industry GRP: 423 million 2011, Industry GRP: 464 million 2012, Industry GRP: 489 million 2013, Industry GRP: 481 million 2014, Industry GRP: 490 million 2015, Industry GRP: 489 million 2016, Industry GRP: 501 million 2001, Headline GRP: 505 million 2002, Headline GRP: 496 million 2003, Headline GRP: 474 million 2004, Headline GRP: 479 million 2005, Headline GRP: 482 million 2006, Headline GRP: 488 million 2007, Headline GRP: 484 million 2008, Headline GRP: 501 million 2009, Headline GRP: 535 million 2010, Headline GRP: 563 million 2011, Headline GRP: 609 million 2012, Headline GRP: 629 million 2013, Headline GRP: 654 million 2014, Headline GRP: 658 million 2015, Headline GRP: 642 million 2016, Headline GRP: 633 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2016
Compiled and presented in by .id the population experts

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