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City of Albany

Gross Regional Product

City of Albany’s Gross Regional Product was $2.05 billion in the year ending June 2017, growing 0.8% 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 Albany - Gross Regional Product measures
Year ending JuneHeadline GRP $m% change from previous yearLocal industry GRP $mLocal residents GRP $mLocal industry to residents ratio
20172,054+0.81,4471,5180.95
20162,038+2.21,5301,6210.94
20151,995+2.71,5781,7170.92
20141,943+0.51,5661,7190.91
20131,934-4.01,5851,7420.91
20122,014+14.11,5821,7190.92
20111,765+1.01,4971,6000.94
20101,748+2.51,3541,4390.94
20091,706+4.21,3891,4950.93
20081,637+4.91,3291,4270.93
20071,561+2.61,2141,2930.94
20061,520+8.71,1211,1950.94
20051,399+7.11,0661,1170.95
20041,306+6.39721,0270.95
20031,228+7.38949460.94
20021,145+6.88889290.96
20011,072--8308580.97

Source: National Institute of Economic and Industry Research (NIEIR) ©2016. Compiled and presented in economy.id by .id , the population experts.

Data are based on a 2015-16 price base for all years. NIEIR-ID data are inflation adjusted each year to allow direct comparison, and annual data releases adjust previous years’ figures to a new base year.Learn more

City of Albany - Gross Regional Product
City of Albany - Gross Regional Product 2001, Resident GRP: 858 million 2002, Resident GRP: 929 million 2003, Resident GRP: 946 million 2004, Resident GRP: 1,027 million 2005, Resident GRP: 1,117 million 2006, Resident GRP: 1,195 million 2007, Resident GRP: 1,293 million 2008, Resident GRP: 1,427 million 2009, Resident GRP: 1,495 million 2010, Resident GRP: 1,439 million 2011, Resident GRP: 1,600 million 2012, Resident GRP: 1,719 million 2013, Resident GRP: 1,742 million 2014, Resident GRP: 1,719 million 2015, Resident GRP: 1,717 million 2016, Resident GRP: 1,621 million 2017, Resident GRP: 1,518 million 2001, Industry GRP: 830 million 2002, Industry GRP: 888 million 2003, Industry GRP: 894 million 2004, Industry GRP: 972 million 2005, Industry GRP: 1,066 million 2006, Industry GRP: 1,121 million 2007, Industry GRP: 1,214 million 2008, Industry GRP: 1,329 million 2009, Industry GRP: 1,389 million 2010, Industry GRP: 1,354 million 2011, Industry GRP: 1,497 million 2012, Industry GRP: 1,582 million 2013, Industry GRP: 1,585 million 2014, Industry GRP: 1,566 million 2015, Industry GRP: 1,578 million 2016, Industry GRP: 1,530 million 2017, Industry GRP: 1,447 million 2001, Headline GRP: 1,072 million 2002, Headline GRP: 1,145 million 2003, Headline GRP: 1,228 million 2004, Headline GRP: 1,306 million 2005, Headline GRP: 1,399 million 2006, Headline GRP: 1,520 million 2007, Headline GRP: 1,561 million 2008, Headline GRP: 1,637 million 2009, Headline GRP: 1,706 million 2010, Headline GRP: 1,748 million 2011, Headline GRP: 1,765 million 2012, Headline GRP: 2,014 million 2013, Headline GRP: 1,934 million 2014, Headline GRP: 1,943 million 2015, Headline GRP: 1,995 million 2016, Headline GRP: 2,038 million 2017, Headline GRP: 2,054 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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