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Murchison - Burnie Economic Region

Gross Regional Product

Murchison - Burnie Economic Region’s Gross Regional Product was $3.16 billion in the year ending June 2018, declining -2.0% 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

Murchison - 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
20183,156-2.01,3121,2111.08
20173,221+0.71,3751,2641.09
20163,197-2.01,6551,5271.08
20153,261+3.01,7861,6501.08
20143,167-0.71,8061,6681.08
20133,189-5.81,8361,6941.08
20123,386+3.61,9461,7981.08
20113,269+0.21,9641,8301.07
20103,262+0.61,9501,8051.08
20093,241+1.81,9911,8591.07
20083,182+0.81,9591,8371.07
20073,157+11.51,8551,7251.08
20062,831+8.01,7691,6471.07
20052,622+4.71,5961,4871.07
20042,504+4.31,4331,3371.07
20032,401+1.51,2951,2131.07
20022,366+8.61,2471,1711.06
20012,179--1,1891,1211.06

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

Murchison - Burnie Economic Region - Gross Regional Product
Murchison - Burnie Economic Region - Gross Regional Product 2001, Resident GRP: 1,121 million 2002, Resident GRP: 1,171 million 2003, Resident GRP: 1,213 million 2004, Resident GRP: 1,337 million 2005, Resident GRP: 1,487 million 2006, Resident GRP: 1,647 million 2007, Resident GRP: 1,725 million 2008, Resident GRP: 1,837 million 2009, Resident GRP: 1,859 million 2010, Resident GRP: 1,805 million 2011, Resident GRP: 1,830 million 2012, Resident GRP: 1,798 million 2013, Resident GRP: 1,694 million 2014, Resident GRP: 1,668 million 2015, Resident GRP: 1,650 million 2016, Resident GRP: 1,527 million 2017, Resident GRP: 1,264 million 2018, Resident GRP: 1,211 million 2001, Industry GRP: 1,189 million 2002, Industry GRP: 1,247 million 2003, Industry GRP: 1,295 million 2004, Industry GRP: 1,433 million 2005, Industry GRP: 1,596 million 2006, Industry GRP: 1,769 million 2007, Industry GRP: 1,855 million 2008, Industry GRP: 1,959 million 2009, Industry GRP: 1,991 million 2010, Industry GRP: 1,950 million 2011, Industry GRP: 1,964 million 2012, Industry GRP: 1,946 million 2013, Industry GRP: 1,836 million 2014, Industry GRP: 1,806 million 2015, Industry GRP: 1,786 million 2016, Industry GRP: 1,655 million 2017, Industry GRP: 1,375 million 2018, Industry GRP: 1,312 million 2001, Headline GRP: 2,179 million 2002, Headline GRP: 2,366 million 2003, Headline GRP: 2,401 million 2004, Headline GRP: 2,504 million 2005, Headline GRP: 2,622 million 2006, Headline GRP: 2,831 million 2007, Headline GRP: 3,157 million 2008, Headline GRP: 3,182 million 2009, Headline GRP: 3,241 million 2010, Headline GRP: 3,262 million 2011, Headline GRP: 3,269 million 2012, Headline GRP: 3,386 million 2013, Headline GRP: 3,189 million 2014, Headline GRP: 3,167 million 2015, Headline GRP: 3,261 million 2016, Headline GRP: 3,197 million 2017, Headline GRP: 3,221 million 2018, Headline GRP: 3,156 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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