Value added by industry is an indicator of business productivity in Hobsons Bay City. 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 Hobsons Bay City’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|
|Hobsons Bay City||2020/21||2015/16||Change|
|Industry||$m||%||Victoria||$m||%||Victoria||2015/16 - 2020/21|
|Agriculture, Forestry and Fishing||37.7||0.7||2.6||18.4||0.4||2.9||+19.3|
|Electricity, Gas, Water and Waste Services||86.6||1.7||3.2||125.0||2.5||3.5||-38.4|
|Accommodation and Food Services||74.3||1.4||2.0||88.5||1.7||2.3||-14.2|
|Transport, Postal and Warehousing||793.6||15.4||5.1||873.7||17.2||6.0||-80.1|
|Information Media and Telecommunications||47.3||0.9||3.4||34.5||0.7||3.0||+12.8|
|Financial and Insurance Services||178.7||3.5||11.3||169.6||3.3||11.1||+9.1|
|Rental, Hiring and Real Estate Services||89.9||1.7||3.1||110.6||2.2||3.3||-20.7|
|Professional, Scientific and Technical Services||188.5||3.7||9.8||174.0||3.4||8.5||+14.4|
|Administrative and Support Services||164.9||3.2||4.2||163.6||3.2||4.1||+1.3|
|Public Administration and Safety||276.4||5.4||6.3||265.3||5.2||5.6||+11.1|
|Education and Training||174.8||3.4||6.5||185.2||3.6||6.4||-10.4|
|Health Care and Social Assistance||285.9||5.6||9.8||259.7||5.1||8.5||+26.2|
|Arts and Recreation Services||55.8||1.1||1.2||50.4||1.0||1.3||+5.4|
Source: National Institute of Economic and Industry Research (NIEIR) ©2021. Compiled and presented in economy.id by .id (informed decisions). 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 Hobsons Bay City in 2020/21 shows the three largest industries were:
- Manufacturing (1,172 million or 22.8%)
- Transport, Postal and Warehousing (794 million or 15.4%)
- Wholesale Trade (658 million or 12.8%)
In combination these three industries accounted for 2,624 million in total or 51.0% of the total value added by industry in the Hobsons Bay City.
In comparison, the same 3 industries in Victoria accounted for 7.8% in Manufacturing; 5.1% in Transport, Postal and Warehousing and 6.0% in Wholesale Trade.
The major differences between the value added by industries of Hobsons Bay City and Victoria were:
- A larger percentage of value added by Manufacturing (22.8% compared to 7.8%)
- A larger percentage of value added by Transport, Postal and Warehousing (15.4% compared to 5.1%)
- A smaller percentage of value added by Financial and Insurance Services (3.5% compared to 11.3%)
- A larger percentage of value added by Wholesale Trade (12.8% compared to 6.0%)
The total value added by industry in Hobsons Bay City $increased by 49 million between 2015/16 and 2020/21.
The largest changes in the value added by industries between 2015/16 and 2020/21 in Hobsons Bay City were for:
- Wholesale Trade (+$288 million)
- Health Care and Social Assistance (+$26 million)
- Agriculture, Forestry and Fishing (+$19 million)
- Professional, Scientific and Technical Services (+$14 million)