In the King Island Council area, Agriculture, Forestry and Fishing most productive industry, generating $81 million in 2018/19.
Value added by industry is an indicator of business productivity in the King Island Council area. It shows how productive each industry sector is at increasing the value of its inputs. It is a more refined measure of the productivity of an industry sector than output (total gross revenue), as some industries have high levels of output but require large amounts of input expenditure to achieve that.
By comparing the value added of each industry sector to a regional benchmark, you can clearly see the structure of the King Island Council area’s economy. This can be done by directly comparing the percentage contribution of each industry to the total output, relative to the benchmark, or by using a location quotient, where a number greater than one indicates a high concentration of that industry and less than one indicates a lower concentration.
To see what contribution each industry makes to the state or region, see the Industry sector analysissection. To understand the value of a worker in each industry, view this dataset in conjunction with Worker productivity data, and to see the relationship of value added to the total size of the economy, go to the Gross Regional Product section.
Detailed notes about how the figures are derived can be found in the specific topic notes section.
National Economics (NIEIR) - Modelled series
|Value added by industry sector|
|King Island Council area||2018/19||2003/04||Change|
|Industry||$m||%||Tasmania||$m||%||Tasmania||2003/04 - 2018/19|
|Agriculture, Forestry and Fishing||80.7||58.3||12.1||33.9||36.0||10.4||+46.7|
|Electricity, Gas, Water and Waste Services||4.4||3.2||3.5||3.1||3.3||4.2||+1.3|
|Accommodation and Food Services||2.2||1.6||3.0||2.3||2.4||3.6||-0.1|
|Transport, Postal and Warehousing||3.6||2.6||4.6||5.0||5.3||5.4||-1.4|
|Information Media and Telecommunications||0.5||0.3||4.2||0.6||0.6||2.8||-0.1|
|Financial and Insurance Services||2.0||1.4||6.5||1.9||2.0||6.9||+0.0|
|Rental, Hiring and Real Estate Services||1.6||1.1||2.0||1.2||1.2||1.5||+0.4|
|Professional, Scientific and Technical Services||0.5||0.4||3.4||0.7||0.7||3.2||-0.2|
|Administrative and Support Services||1.7||1.2||2.0||1.6||1.7||2.5||+0.0|
|Public Administration and Safety||4.5||3.2||6.6||6.1||6.4||9.1||-1.6|
|Education and Training||5.3||3.9||7.0||4.6||4.9||8.6||+0.8|
|Health Care and Social Assistance||5.6||4.0||14.6||5.1||5.4||10.6||+0.5|
|Arts and Recreation Services||0.5||0.4||1.2||0.3||0.3||1.3||+0.3|
Source: National Institute of Economic and Industry Research (NIEIR) ©2019. Compiled and presented in economy.id by .id the population experts. NIEIR-ID data are adjusted each year, using updated employment estimates. Each release may change previous years’ figures. Learn morePlease refer to specific data notes for more information
An analysis of the valued added by industry sectors in the King Island Council area in 2018/19 shows the three largest industries were:
- Agriculture, Forestry and Fishing (81 million or 58.3%)
- Manufacturing (12 million or 8.4%)
- Construction (6 million or 4.3%)
In combination these three industries accounted for 98 million in total or 70.9% of the total value added by industry in the the King Island Council area.
In comparison, the same 3 industries in Tasmania accounted for 12.1% in Agriculture, Forestry and Fishing; 6.9% in Manufacturing and 7.8% in Construction.
The major differences between the value added by industries of the King Island Council area and Tasmania were:
- A larger percentage of value added by Agriculture, Forestry and Fishing (58.3% compared to 12.1%)
- A smaller percentage of value added by Health Care and Social Assistance (4.0% compared to 14.6%)
- A smaller percentage of value added by Financial and Insurance Services (1.4% compared to 6.5%)
- A smaller percentage of value added by Information Media and Telecommunications (0.3% compared to 4.2%)
The total value added by industry in the King Island Council area $increased by 44 million between 2003/04 and 2018/19.
The largest changes in the value added by industries between 2003/04 and 2018/19 in the King Island Council area were for:
- Agriculture, Forestry and Fishing (+$47 million)
- Construction (+$3 million)
- Retail Trade (+$1 million)
- Electricity, Gas, Water and Waste Services (+$1 million)