City of IpswichEconomic profile

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City of Ipswich

Gross Regional Product

City of Ipswich’s Gross Regional Product was $8.96 billion in the year ending June 2016, growing 4.0% 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 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 Ipswich - 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.

City of Ipswich - Gross Regional Product
City of Ipswich - Gross Regional Product 2001, Resident GRP: 3,577 million 2002, Resident GRP: 3,861 million 2003, Resident GRP: 3,864 million 2004, Resident GRP: 4,368 million 2005, Resident GRP: 4,879 million 2006, Resident GRP: 5,341 million 2007, Resident GRP: 5,843 million 2008, Resident GRP: 6,452 million 2009, Resident GRP: 6,770 million 2010, Resident GRP: 6,900 million 2011, Resident GRP: 7,454 million 2012, Resident GRP: 7,757 million 2013, Resident GRP: 7,611 million 2014, Resident GRP: 7,485 million 2015, Resident GRP: 7,385 million 2016, Resident GRP: 7,136 million 2001, Industry GRP: 3,046 million 2002, Industry GRP: 3,254 million 2003, Industry GRP: 3,253 million 2004, Industry GRP: 3,678 million 2005, Industry GRP: 4,166 million 2006, Industry GRP: 4,567 million 2007, Industry GRP: 4,925 million 2008, Industry GRP: 5,369 million 2009, Industry GRP: 5,620 million 2010, Industry GRP: 5,679 million 2011, Industry GRP: 6,087 million 2012, Industry GRP: 6,306 million 2013, Industry GRP: 6,144 million 2014, Industry GRP: 6,100 million 2015, Industry GRP: 6,034 million 2016, Industry GRP: 5,894 million 2001, Headline GRP: 4,865 million 2002, Headline GRP: 5,091 million 2003, Headline GRP: 5,166 million 2004, Headline GRP: 5,424 million 2005, Headline GRP: 5,893 million 2006, Headline GRP: 6,295 million 2007, Headline GRP: 6,702 million 2008, Headline GRP: 7,221 million 2009, Headline GRP: 7,461 million 2010, Headline GRP: 7,489 million 2011, Headline GRP: 7,729 million 2012, Headline GRP: 8,080 million 2013, Headline GRP: 8,160 million 2014, Headline GRP: 8,534 million 2015, Headline GRP: 8,613 million 2016, Headline GRP: 8,959 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2016
Compiled and presented in by .id the population experts

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