Value added by industry is an indicator of business productivity in the Inner West 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 Inner West 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|
|Inner West Council area||2019/20||2016/17||Change|
|Industry||$m||%||New South Wales||$m||%||New South Wales||2016/17 - 2019/20|
|Agriculture, Forestry and Fishing||6.5||0.1||1.5||9.9||0.1||2.3||-3.4|
|Electricity, Gas, Water and Waste Services||20.3||0.3||2.5||15.9||0.2||2.5||+4.4|
|Accommodation and Food Services||387.5||4.8||2.7||369.3||4.5||3.1||+18.2|
|Transport, Postal and Warehousing||401.3||5.0||5.7||466.7||5.6||6.1||-65.4|
|Information Media and Telecommunications||201.8||2.5||3.5||220.4||2.7||3.3||-18.6|
|Financial and Insurance Services||516.0||6.4||14.1||522.3||6.3||14.0||-6.2|
|Rental, Hiring and Real Estate Services||509.9||6.4||4.4||553.6||6.7||4.6||-43.7|
|Professional, Scientific and Technical Services||864.3||10.8||10.3||878.8||10.6||9.3||-14.5|
|Administrative and Support Services||443.8||5.5||4.7||453.7||5.5||4.5||-9.9|
|Public Administration and Safety||559.4||7.0||5.7||525.2||6.3||5.2||+34.1|
|Education and Training||569.9||7.1||5.9||508.8||6.1||5.7||+61.1|
|Health Care and Social Assistance||813.3||10.2||8.0||805.3||9.7||7.1||+8.0|
|Arts and Recreation Services||84.1||1.1||0.9||80.6||1.0||0.9||+3.6|
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 the Inner West Council area in 2019/20 shows the three largest industries were:
- Professional, Scientific and Technical Services (864 million or 10.8%)
- Health Care and Social Assistance (813 million or 10.2%)
- Construction (751 million or 9.4%)
In combination these three industries accounted for 2,428 million in total or 30.3% of the total value added by industry in the the Inner West Council area.
In comparison, the same 3 industries in New South Wales accounted for 10.3% in Professional, Scientific and Technical Services; 8.0% in Health Care and Social Assistance and 8.7% in Construction.
The major differences between the value added by industries of the Inner West Council area and New South Wales were:
- A smaller percentage of value added by Financial and Insurance Services (6.4% compared to 14.1%)
- A smaller percentage of value added by Mining (0.0% compared to 3.9%)
- A larger percentage of value added by Retail Trade (7.4% compared to 4.9%)
- A smaller percentage of value added by Electricity, Gas, Water and Waste Services (0.3% compared to 2.5%)
The total value added by industry in the Inner West Council area $decreased by -277 million between 2016/17 and 2019/20.
The largest changes in the value added by industries between 2016/17 and 2019/20 in the Inner West Council area were for:
- Education and Training (+$61 million)
- Public Administration and Safety (+$34 million)
- Accommodation and Food Services (+$18 million)
- Health Care and Social Assistance (+$8 million)