King Island Council area
In King Island Council area, Agriculture, Forestry and Fishing is the most productive industry, generating $59 million in 2017/18.
Value added by industry is an indicator of business productivity in Cradle Coast Region. It shows how productive each industry sector is at increasing the value of its inputs. It is a more refined measure of the productivity of an industry sector than output (total gross revenue), as some industries have high levels of output but require large amounts of input expenditure to achieve that.
By comparing the value added of each industry sector to a regional benchmark, you can clearly see the structure of Cradle Coast Region’s economy. This can be done by directly comparing the percentage contribution of each industry to the total output, relative to the benchmark, or by using a location quotient, where a number greater than one indicates a high concentration of that industry and less than one indicates a lower concentration.
To see what contribution each industry makes to the state or region, see the Industry sector analysis section. To understand the value of a worker in each industry, view this dataset in conjunction with Worker productivity data, and to see the relationship of value added to the total size of the economy, go to the Gross Regional Product section.
Detailed notes about how the figures are derived can be found in the specific topic notes section.
National Economics (NIEIR) - Modelled series
|Value added by industry sector|
|King Island Council area - Constant prices||2017/18||2007/08||Change|
|Industry (Click rows to view sub-categories)||$m||%||Greater Hobart%||$m||%||Greater Hobart%||2007/08 to 2017/18|
|Agriculture, Forestry and Fishing||59.4||48.6||3.3||52.2||45.3||2.5||+7.2||23000||P|
|Electricity, Gas, Water and Waste Services||4.6||3.8||4.5||3.4||3.0||5.3||+1.2||23300||P|
|Accommodation and Food Services||2.0||1.7||3.3||2.0||1.7||3.7||0||23700||P|
|Transport, Postal and Warehousing||4.6||3.8||3.4||6.7||5.8||5.1||-2.0||23800||P|
|Information Media and Telecommunications||0.6||0.5||5.5||0.7||0.6||5.0||-0.1||23900||P|
|Financial and Insurance Services||2.6||2.1||10.1||1.5||1.3||8.7||+1.1||24000||P|
|Rental, Hiring and Real Estate Services||1.4||1.1||2.1||0.8||0.7||1.6||+0.5||24100||P|
|Professional, Scientific and Technical Services||0.4||0.4||4.5||0.7||0.6||4.4||-0.2||24200||P|
|Administrative and Support Services||1.4||1.1||2.1||1.8||1.5||2.4||-0.4||24300||P|
|Public Administration and Safety||4.4||3.6||11.1||6.9||6.0||12.2||-2.5||24400||P|
|Education and Training||5.7||4.6||8.7||4.0||3.5||8.9||+1.6||24500||P|
|Health Care and Social Assistance||6.3||5.1||16.4||4.8||4.1||12.7||+1.5||24600||P|
|Arts and Recreation Services||1.1||0.9||1.6||0.7||0.6||1.5||+0.4||24700||P|
Source: National Institute of Economic and Industry Research (NIEIR) (opens a new window) ©2018. Compiled and presented in economy.id by .id (opens a new window), 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
An analysis of the valued added by industry sectors in King Island Council area in 2017/18 shows the three largest industries were:
- Agriculture, Forestry and Fishing ($59 million or 48.6%)
- Manufacturing ($13 million or 10.5%)
- Health Care and Social Assistance ($6 million or 5.1%)
In combination these three industries accounted for $78 million in total or 64.2% of the total value added by industry in King Island Council area.
In comparison, the same 3 industries in Greater Hobart accounted for 3.3% in Agriculture, Forestry and Fishing; 5.5% in Manufacturing; and 16.4% in Health Care and Social Assistance.
The major differences between the value added by industries of King Island Council area and Greater Hobart were:
- A larger percentage of value added by Agriculture, Forestry and Fishing (48.6% compared to 3.3%)
- A smaller percentage of value added by Health Care and Social Assistance (5.1% compared to 16.4%)
- A smaller percentage of value added by Financial and Insurance Services (2.1% compared to 10.1%)
- A smaller percentage of value added by Public Administration and Safety (3.6% compared to 11.1%)
The total value added by industry in King Island Council area increased by 7.0 million between 2007/08 and 2017/18.
There were no major changes in the value added by industries between 2007/08 and 2017/18 in King Island Council area.