Willoughby City CouncilEconomic profile

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Willoughby City

Gross Regional Product

Willoughby City’s Gross Regional Product was $10.22 billion in the year ending June 2016, growing 4.2% 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 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.

Willoughby City - Gross Regional Product
Willoughby City - Gross Regional Product 2001, Resident GRP: 4,565 million 2002, Resident GRP: 4,567 million 2003, Resident GRP: 4,723 million 2004, Resident GRP: 5,091 million 2005, Resident GRP: 5,376 million 2006, Resident GRP: 5,549 million 2007, Resident GRP: 5,715 million 2008, Resident GRP: 6,033 million 2009, Resident GRP: 5,866 million 2010, Resident GRP: 5,827 million 2011, Resident GRP: 6,099 million 2012, Resident GRP: 6,143 million 2013, Resident GRP: 6,085 million 2014, Resident GRP: 6,307 million 2015, Resident GRP: 6,524 million 2016, Resident GRP: 6,732 million 2001, Industry GRP: 6,375 million 2002, Industry GRP: 6,433 million 2003, Industry GRP: 6,488 million 2004, Industry GRP: 6,890 million 2005, Industry GRP: 7,190 million 2006, Industry GRP: 7,346 million 2007, Industry GRP: 7,571 million 2008, Industry GRP: 7,915 million 2009, Industry GRP: 7,659 million 2010, Industry GRP: 7,581 million 2011, Industry GRP: 7,865 million 2012, Industry GRP: 7,894 million 2013, Industry GRP: 7,695 million 2014, Industry GRP: 7,900 million 2015, Industry GRP: 8,086 million 2016, Industry GRP: 8,337 million 2001, Headline GRP: 8,815 million 2002, Headline GRP: 8,819 million 2003, Headline GRP: 8,902 million 2004, Headline GRP: 9,257 million 2005, Headline GRP: 9,343 million 2006, Headline GRP: 9,633 million 2007, Headline GRP: 9,774 million 2008, Headline GRP: 9,741 million 2009, Headline GRP: 9,761 million 2010, Headline GRP: 9,730 million 2011, Headline GRP: 9,513 million 2012, Headline GRP: 9,304 million 2013, Headline GRP: 9,524 million 2014, Headline GRP: 9,628 million 2015, Headline GRP: 9,806 million 2016, Headline GRP: 10,217 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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