City of IpswichEconomic profile

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City of Ipswich

Gross Regional Product

City of Ipswich’s Gross Regional Product was $7.89 billion in the year ending June 2015, growing 0.4% 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: 3,464 million 2002, Resident GRP: 3,729 million 2003, Resident GRP: 3,724 million 2004, Resident GRP: 4,209 million 2005, Resident GRP: 4,726 million 2006, Resident GRP: 5,194 million 2007, Resident GRP: 5,673 million 2008, Resident GRP: 6,272 million 2009, Resident GRP: 6,555 million 2010, Resident GRP: 6,674 million 2011, Resident GRP: 7,191 million 2012, Resident GRP: 7,465 million 2013, Resident GRP: 7,336 million 2014, Resident GRP: 7,283 million 2015, Resident GRP: 7,311 million 2001, Industry GRP: 2,911 million 2002, Industry GRP: 3,149 million 2003, Industry GRP: 3,142 million 2004, Industry GRP: 3,547 million 2005, Industry GRP: 3,991 million 2006, Industry GRP: 4,425 million 2007, Industry GRP: 4,790 million 2008, Industry GRP: 5,220 million 2009, Industry GRP: 5,395 million 2010, Industry GRP: 5,428 million 2011, Industry GRP: 5,763 million 2012, Industry GRP: 5,938 million 2013, Industry GRP: 5,822 million 2014, Industry GRP: 5,821 million 2015, Industry GRP: 5,818 million 2001, Headline GRP: 4,199 million 2002, Headline GRP: 4,477 million 2003, Headline GRP: 4,557 million 2004, Headline GRP: 4,890 million 2005, Headline GRP: 5,378 million 2006, Headline GRP: 5,894 million 2007, Headline GRP: 6,347 million 2008, Headline GRP: 6,810 million 2009, Headline GRP: 6,958 million 2010, Headline GRP: 6,906 million 2011, Headline GRP: 7,102 million 2012, Headline GRP: 7,429 million 2013, Headline GRP: 7,547 million 2014, Headline GRP: 7,856 million 2015, Headline GRP: 7,890 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2016
Compiled and presented in by .id the population experts

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