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City of Albany

Gross Regional Product

City of Albany’s Gross Regional Product was $2.20 billion in the year ending June 2018, growing 10.6% 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
20182,196+10.61,4321,5140.95
20171,986-0.11,3861,4800.94
20161,988+1.01,4751,6140.91
20151,967+2.31,5551,7190.90
20141,923+2.61,5571,7330.90
20131,875-2.01,5531,7750.88
20121,913+14.21,5501,7710.88
20111,676+1.51,4521,6280.89
20101,651+0.21,3091,4600.90
20091,647+4.71,3701,5300.90
20081,573+6.11,3001,4410.90
20071,483+2.91,1841,2990.91
20061,441+9.91,0971,1970.92
20051,312+4.41,0091,1000.92
20041,257+7.39381,0190.92
20031,170+5.78689370.93
20021,108+5.68699380.93
20011,049--8028610.93

Source: National Institute of Economic and Industry Research (NIEIR) ©2018. Compiled and presented in economy.id by .id , the population experts.

Data are based on a 2016-17 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: 861 million 2002, Resident GRP: 938 million 2003, Resident GRP: 937 million 2004, Resident GRP: 1,019 million 2005, Resident GRP: 1,100 million 2006, Resident GRP: 1,197 million 2007, Resident GRP: 1,299 million 2008, Resident GRP: 1,441 million 2009, Resident GRP: 1,530 million 2010, Resident GRP: 1,460 million 2011, Resident GRP: 1,628 million 2012, Resident GRP: 1,771 million 2013, Resident GRP: 1,775 million 2014, Resident GRP: 1,733 million 2015, Resident GRP: 1,719 million 2016, Resident GRP: 1,614 million 2017, Resident GRP: 1,480 million 2018, Resident GRP: 1,514 million 2001, Industry GRP: 802 million 2002, Industry GRP: 869 million 2003, Industry GRP: 868 million 2004, Industry GRP: 938 million 2005, Industry GRP: 1,009 million 2006, Industry GRP: 1,097 million 2007, Industry GRP: 1,184 million 2008, Industry GRP: 1,300 million 2009, Industry GRP: 1,370 million 2010, Industry GRP: 1,309 million 2011, Industry GRP: 1,452 million 2012, Industry GRP: 1,550 million 2013, Industry GRP: 1,553 million 2014, Industry GRP: 1,557 million 2015, Industry GRP: 1,555 million 2016, Industry GRP: 1,475 million 2017, Industry GRP: 1,386 million 2018, Industry GRP: 1,432 million 2001, Headline GRP: 1,049 million 2002, Headline GRP: 1,108 million 2003, Headline GRP: 1,170 million 2004, Headline GRP: 1,257 million 2005, Headline GRP: 1,312 million 2006, Headline GRP: 1,441 million 2007, Headline GRP: 1,483 million 2008, Headline GRP: 1,573 million 2009, Headline GRP: 1,647 million 2010, Headline GRP: 1,651 million 2011, Headline GRP: 1,676 million 2012, Headline GRP: 1,913 million 2013, Headline GRP: 1,875 million 2014, Headline GRP: 1,923 million 2015, Headline GRP: 1,967 million 2016, Headline GRP: 1,988 million 2017, Headline GRP: 1,986 million 2018, Headline GRP: 2,196 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2018
Compiled and presented in economy.id by .id the population experts

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