Cradle Coast RegionEconomic profile
Skip to content

Greater Burnie Economic Region

Gross Regional Product

Greater Burnie Economic Region’s Gross Regional Product was $2.67 billion in the year ending June 2018, declining -2.9% 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 Region. 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

Greater Burnie Economic Region - Gross Regional Product measures
Year ending JuneHeadline GRP $m% change from previous yearLocal industry GRP $mLocal residents GRP $mLocal industry to residents ratio
20182,672-2.91,3661,4370.95
20172,750+1.01,4201,4930.95
20162,723-0.11,6621,7550.95
20152,726+2.01,7651,8710.94
20142,672+0.61,7811,9000.94
20132,656-3.11,7981,9210.94
20122,740+1.91,8862,0190.93
20112,689+1.21,9072,0550.93
20102,658+0.31,8722,0120.93
20092,650+1.31,8912,0320.93
20082,616+0.61,8621,9990.93
20072,599+8.21,7501,8720.93
20062,402+9.31,6761,7900.94
20052,197+4.91,5181,6150.94
20042,094+10.81,3421,4290.94
20031,890+3.71,1911,2640.94
20021,822+4.11,1321,1940.95
20011,750--1,0881,1400.95

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

Greater Burnie Economic Region - Gross Regional Product
Greater Burnie Economic Region - Gross Regional Product 2001, Resident GRP: 1,140 million 2002, Resident GRP: 1,194 million 2003, Resident GRP: 1,264 million 2004, Resident GRP: 1,429 million 2005, Resident GRP: 1,615 million 2006, Resident GRP: 1,790 million 2007, Resident GRP: 1,872 million 2008, Resident GRP: 1,999 million 2009, Resident GRP: 2,032 million 2010, Resident GRP: 2,012 million 2011, Resident GRP: 2,055 million 2012, Resident GRP: 2,019 million 2013, Resident GRP: 1,921 million 2014, Resident GRP: 1,900 million 2015, Resident GRP: 1,871 million 2016, Resident GRP: 1,755 million 2017, Resident GRP: 1,493 million 2018, Resident GRP: 1,437 million 2001, Industry GRP: 1,088 million 2002, Industry GRP: 1,132 million 2003, Industry GRP: 1,191 million 2004, Industry GRP: 1,342 million 2005, Industry GRP: 1,518 million 2006, Industry GRP: 1,676 million 2007, Industry GRP: 1,750 million 2008, Industry GRP: 1,862 million 2009, Industry GRP: 1,891 million 2010, Industry GRP: 1,872 million 2011, Industry GRP: 1,907 million 2012, Industry GRP: 1,886 million 2013, Industry GRP: 1,798 million 2014, Industry GRP: 1,781 million 2015, Industry GRP: 1,765 million 2016, Industry GRP: 1,662 million 2017, Industry GRP: 1,420 million 2018, Industry GRP: 1,366 million 2001, Headline GRP: 1,750 million 2002, Headline GRP: 1,822 million 2003, Headline GRP: 1,890 million 2004, Headline GRP: 2,094 million 2005, Headline GRP: 2,197 million 2006, Headline GRP: 2,402 million 2007, Headline GRP: 2,599 million 2008, Headline GRP: 2,616 million 2009, Headline GRP: 2,650 million 2010, Headline GRP: 2,658 million 2011, Headline GRP: 2,689 million 2012, Headline GRP: 2,740 million 2013, Headline GRP: 2,656 million 2014, Headline GRP: 2,672 million 2015, Headline GRP: 2,726 million 2016, Headline GRP: 2,723 million 2017, Headline GRP: 2,750 million 2018, Headline GRP: 2,672 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2018
Compiled and presented in economy.id by .id the population experts

To continue building your economic story go to...

v19.10.15-1.0.1