Armidale Regional CouncilEconomic profile
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Armidale Regional Council

Gross Regional Product

Armidale Regional Council’s Gross Regional Product was $1.48 billion in the year ending June 2018, declining -2.3% 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 Regional Council. 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

Armidale Regional Council - Gross Regional Product measures
Year ending JuneHeadline GRP $m% change from previous yearLocal industry GRP $mLocal residents GRP $mLocal industry to residents ratio
20181,483-2.31,3401,2911.04
20171,517+3.41,3331,2831.04
20161,467+2.61,3111,2661.04
20151,430-0.11,2591,2161.04
20141,431+0.51,2361,1961.03
20131,42401,2311,1951.03
20121,425-2.21,2451,2071.03
20111,457+3.51,2421,1991.04
20101,408+0.21,1741,1311.04
20091,406+2.51,1431,0981.04
20081,372+1.11,1581,1061.05
20071,357-2.21,0931,0421.05
20061,388+0.51,0459931.05
20051,381+2.91,0269761.05
20041,342+3.01,0139621.05
20031,303-6.29769271.05
20021,389-0.11,0551,0051.05
20011,390--1,0731,0251.05

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

Armidale Regional Council - Gross Regional Product
Armidale Regional Council - Gross Regional Product 2001, Resident GRP: 1,025 million 2002, Resident GRP: 1,005 million 2003, Resident GRP: 927 million 2004, Resident GRP: 962 million 2005, Resident GRP: 976 million 2006, Resident GRP: 993 million 2007, Resident GRP: 1,042 million 2008, Resident GRP: 1,106 million 2009, Resident GRP: 1,098 million 2010, Resident GRP: 1,131 million 2011, Resident GRP: 1,199 million 2012, Resident GRP: 1,207 million 2013, Resident GRP: 1,195 million 2014, Resident GRP: 1,196 million 2015, Resident GRP: 1,216 million 2016, Resident GRP: 1,266 million 2017, Resident GRP: 1,283 million 2018, Resident GRP: 1,291 million 2001, Industry GRP: 1,073 million 2002, Industry GRP: 1,055 million 2003, Industry GRP: 976 million 2004, Industry GRP: 1,013 million 2005, Industry GRP: 1,026 million 2006, Industry GRP: 1,045 million 2007, Industry GRP: 1,093 million 2008, Industry GRP: 1,158 million 2009, Industry GRP: 1,143 million 2010, Industry GRP: 1,174 million 2011, Industry GRP: 1,242 million 2012, Industry GRP: 1,245 million 2013, Industry GRP: 1,231 million 2014, Industry GRP: 1,236 million 2015, Industry GRP: 1,259 million 2016, Industry GRP: 1,311 million 2017, Industry GRP: 1,333 million 2018, Industry GRP: 1,340 million 2001, Headline GRP: 1,390 million 2002, Headline GRP: 1,389 million 2003, Headline GRP: 1,303 million 2004, Headline GRP: 1,342 million 2005, Headline GRP: 1,381 million 2006, Headline GRP: 1,388 million 2007, Headline GRP: 1,357 million 2008, Headline GRP: 1,372 million 2009, Headline GRP: 1,406 million 2010, Headline GRP: 1,408 million 2011, Headline GRP: 1,457 million 2012, Headline GRP: 1,425 million 2013, Headline GRP: 1,424 million 2014, Headline GRP: 1,431 million 2015, Headline GRP: 1,430 million 2016, Headline GRP: 1,467 million 2017, Headline GRP: 1,517 million 2018, Headline GRP: 1,483 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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