City of LauncestonEconomic profile
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City of Launceston

Gross Regional Product

City of Launceston’s Gross Regional Product was $4.47 billion in the year ending June 2017, growing 1.8% since the previous year.

Headline Gross Regional Product (GRP) is a measure of size or net wealth generated by the local economy. Changes in this figure over time can represent changes in employment, productivity or the types of industries in the area.

Local Industry GRP shows the value of the local economy, generated by the local workers within the area regardless of where they live, after taxes and dividends leave the area. It is best thought of as GRP produced by local industries.

Local Residents GRP refers to the economic output of the residents of the area regardless of where they work. It is best thought of as the income received by people in the City Council. If the Residents GRP is high relative to the Local Industry GRP, this indicates that residents are contributing their economic productivity to other areas (most likely commuting out).

To understand the relative size of these measures and reasons behind the differences, GRP data should be viewed in conjunction with Jobs to workers ratio and Employment self-containment datasets. To understand the main contributors to GRP, this dataset should be viewed in conjunction with industry Value added.

National Economics (NIEIR) - Modelled series

City of Launceston - Gross Regional Product measures
Year ending JuneHeadline GRP $m% change from previous yearLocal industry GRP $mLocal residents GRP $mLocal industry to residents ratio
20174,470+1.82,2771,9151.19
20164,391+1.02,5992,1671.20
20154,348+0.92,7532,2781.21
20144,308+1.32,7952,3081.21
20134,254-0.22,8182,3201.21
20124,263-0.23,0092,4631.22
20114,273+2.13,1102,5241.23
20104,184+0.53,1092,5051.24
20094,164+1.03,0532,4681.24
20084,121+2.93,0072,4221.24
20074,004+3.82,7702,2331.24
20063,859+5.22,6312,0911.26
20053,669+1.32,4821,9251.29
20043,623+6.02,3161,7491.32
20033,419+1.32,1211,5561.36
20023,376+7.02,0591,4641.41
20013,154--1,8981,3881.37

Source: National Institute of Economic and Industry Research (NIEIR) ©2016. Compiled and presented in economy.id by .id , the population experts.

Data are based on a 2015-16 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

City of Launceston - Gross Regional Product
City of Launceston - Gross Regional Product 2001, Resident GRP: 1,388 million 2002, Resident GRP: 1,464 million 2003, Resident GRP: 1,556 million 2004, Resident GRP: 1,749 million 2005, Resident GRP: 1,925 million 2006, Resident GRP: 2,091 million 2007, Resident GRP: 2,233 million 2008, Resident GRP: 2,422 million 2009, Resident GRP: 2,468 million 2010, Resident GRP: 2,505 million 2011, Resident GRP: 2,524 million 2012, Resident GRP: 2,463 million 2013, Resident GRP: 2,320 million 2014, Resident GRP: 2,308 million 2015, Resident GRP: 2,278 million 2016, Resident GRP: 2,167 million 2017, Resident GRP: 1,915 million 2001, Industry GRP: 1,898 million 2002, Industry GRP: 2,059 million 2003, Industry GRP: 2,121 million 2004, Industry GRP: 2,316 million 2005, Industry GRP: 2,482 million 2006, Industry GRP: 2,631 million 2007, Industry GRP: 2,770 million 2008, Industry GRP: 3,007 million 2009, Industry GRP: 3,053 million 2010, Industry GRP: 3,109 million 2011, Industry GRP: 3,110 million 2012, Industry GRP: 3,009 million 2013, Industry GRP: 2,818 million 2014, Industry GRP: 2,795 million 2015, Industry GRP: 2,753 million 2016, Industry GRP: 2,599 million 2017, Industry GRP: 2,277 million 2001, Headline GRP: 3,154 million 2002, Headline GRP: 3,376 million 2003, Headline GRP: 3,419 million 2004, Headline GRP: 3,623 million 2005, Headline GRP: 3,669 million 2006, Headline GRP: 3,859 million 2007, Headline GRP: 4,004 million 2008, Headline GRP: 4,121 million 2009, Headline GRP: 4,164 million 2010, Headline GRP: 4,184 million 2011, Headline GRP: 4,273 million 2012, Headline GRP: 4,263 million 2013, Headline GRP: 4,254 million 2014, Headline GRP: 4,308 million 2015, Headline GRP: 4,348 million 2016, Headline GRP: 4,391 million 2017, Headline GRP: 4,470 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2016
Compiled and presented in economy.id by .id the population experts

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