City of MonashEconomic profile

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City of Monash

Gross Regional Product

City of Monash’s Gross Regional Product was $13.95 billion in the year ending June 2015, growing 5.5% 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 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 Monash - 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 2013-14 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 Monash - Gross Regional Product
City of Monash - Gross Regional Product 2001, Resident GRP: 6,181 million 2002, Resident GRP: 6,394 million 2003, Resident GRP: 6,498 million 2004, Resident GRP: 6,720 million 2005, Resident GRP: 7,060 million 2006, Resident GRP: 7,206 million 2007, Resident GRP: 7,381 million 2008, Resident GRP: 7,948 million 2009, Resident GRP: 7,947 million 2010, Resident GRP: 8,037 million 2011, Resident GRP: 8,642 million 2012, Resident GRP: 8,867 million 2013, Resident GRP: 8,877 million 2014, Resident GRP: 9,040 million 2015, Resident GRP: 9,190 million 2001, Industry GRP: 7,946 million 2002, Industry GRP: 8,353 million 2003, Industry GRP: 8,575 million 2004, Industry GRP: 8,894 million 2005, Industry GRP: 9,382 million 2006, Industry GRP: 9,663 million 2007, Industry GRP: 9,879 million 2008, Industry GRP: 10,535 million 2009, Industry GRP: 10,379 million 2010, Industry GRP: 10,396 million 2011, Industry GRP: 10,952 million 2012, Industry GRP: 11,171 million 2013, Industry GRP: 11,277 million 2014, Industry GRP: 11,570 million 2015, Industry GRP: 11,755 million 2001, Headline GRP: 10,212 million 2002, Headline GRP: 10,434 million 2003, Headline GRP: 10,742 million 2004, Headline GRP: 11,094 million 2005, Headline GRP: 11,512 million 2006, Headline GRP: 11,509 million 2007, Headline GRP: 11,703 million 2008, Headline GRP: 12,155 million 2009, Headline GRP: 12,270 million 2010, Headline GRP: 12,445 million 2011, Headline GRP: 12,686 million 2012, Headline GRP: 12,513 million 2013, Headline GRP: 12,617 million 2014, Headline GRP: 13,227 million 2015, Headline GRP: 13,955 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2016
Compiled and presented in by .id the population experts

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