Willoughby City CouncilEconomic profile

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Willoughby City

Gross Regional Product

Willoughby City’s Gross Regional Product was $9.64 billion in the year ending June 2015, growing 1.2% 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

Willoughby City - 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 economy.id 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.

Willoughby City - Gross Regional Product
Willoughby City - Gross Regional Product 2001, Resident GRP: 4,343 million 2002, Resident GRP: 4,342 million 2003, Resident GRP: 4,505 million 2004, Resident GRP: 4,857 million 2005, Resident GRP: 5,116 million 2006, Resident GRP: 5,306 million 2007, Resident GRP: 5,488 million 2008, Resident GRP: 5,814 million 2009, Resident GRP: 5,687 million 2010, Resident GRP: 5,666 million 2011, Resident GRP: 5,916 million 2012, Resident GRP: 5,957 million 2013, Resident GRP: 5,882 million 2014, Resident GRP: 6,163 million 2015, Resident GRP: 6,202 million 2001, Industry GRP: 6,136 million 2002, Industry GRP: 6,193 million 2003, Industry GRP: 6,339 million 2004, Industry GRP: 6,775 million 2005, Industry GRP: 7,123 million 2006, Industry GRP: 7,310 million 2007, Industry GRP: 7,523 million 2008, Industry GRP: 7,885 million 2009, Industry GRP: 7,653 million 2010, Industry GRP: 7,574 million 2011, Industry GRP: 7,828 million 2012, Industry GRP: 7,794 million 2013, Industry GRP: 7,588 million 2014, Industry GRP: 7,872 million 2015, Industry GRP: 7,848 million 2001, Headline GRP: 8,484 million 2002, Headline GRP: 8,584 million 2003, Headline GRP: 8,880 million 2004, Headline GRP: 9,251 million 2005, Headline GRP: 9,398 million 2006, Headline GRP: 9,641 million 2007, Headline GRP: 9,770 million 2008, Headline GRP: 9,786 million 2009, Headline GRP: 9,797 million 2010, Headline GRP: 9,714 million 2011, Headline GRP: 9,488 million 2012, Headline GRP: 9,272 million 2013, Headline GRP: 9,430 million 2014, Headline GRP: 9,522 million 2015, Headline GRP: 9,639 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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