In 2019, the Goods related sector accounted for 37.5% of employment in King Island Council area. The importance of this sector has declined over the last 10 years (40.0% in 2009)
Understanding the economic role of Cradle Coast Region provides a framework for understanding what policy responses and investment may be appropriate to support the growth of businesses and maintenance of a vibrant economy in the future.
The charts and table below give a broad overview of the role and function of your economy. It helps answer questions such as:
- How much of the King Island Council area's economy is driven by meeting the local population needs?
- What proportion of jobs in the area are in goods production or selling of products?
- In which broad sectors are the key strengths of the local economy?
- What contribution do business services make in your area and is it growing?
- Is there a presence of local, state and federal government workers in in the area?
Once you have developed a broad picture of your economy, you can then drill down further with all the detail here.
Current area:
| Employment composition | ||||||
|---|---|---|---|---|---|---|
| King Island Council area | 2019 | 2014 | 2009 | |||
| Industry | $ | number | number | % | number | % |
| Agriculture, forestry and fishing | 225 | 25.7 | 215 | 25.1 | 301 | 30.5 |
| Mining | 0 | 0 | 1 | 0.1 | 0 | 0 |
| Goods related | 328 | 37.5 | 334 | 39.0 | 395 | 40.0 |
| Household services | 214 | 24.4 | 192 | 22.4 | 168 | 17.0 |
| Business services | 62 | 7.1 | 56 | 6.5 | 57 | 5.7 |
| Public administration and safety | 46 | 5.3 | 58 | 6.8 | 66 | 6.7 |
| Total Industries | 875 | 100.0 | 856 | 100.0 | 986 | 100.0 |
Source: National Institute of Economic and Industry Research (NIEIR) ©2019. Compiled and presented in economy.id by .id informed decisions. 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. Please refer to specific data notes for more information | ||||||