City of Melbourne


In the City of Melbourne, Financial and Insurance Services had the largest output by industry, generating $53,395 million in 2022/23.

Output by industry is a gross measure of the total sales of each industry sector in the City of Melbourne. It does not measure how productive each industry sector is at producing this output - which is measured by value added.

By comparing the output of each industry sector to a regional benchmark, you can clearly see the structure of the City of Melbourne’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 get the full picture how each industry sector contributes to the regional or state economy, output data should be viewed alongside the other industry characteristics in the Industry sector analysis section.

Detailed data notes about how the figures are derived can be found in the specific topic notes section.

The gross measure of output includes the value of all the inputs to each industry.

Data source

National Economics (NIEIR) - Modelled series

Current benchmark:
Comparison year:
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Output by industry sector
City of Melbourne2022/232016/17Change
Industry$m%. Victoria$m%. Victoria2016/17 - 2022/23
Agriculture, Forestry and Fishing381.80.22.8423.10.22.8-41.3
Electricity, Gas, Water and Waste Services11,745.25.23.211,
Wholesale Trade3,866.51.74.74,
Retail Trade3,567.51.64.72,888.31.54.4+679.2
Accommodation and Food Services4,989.92.22.94,505.02.42.5+485.0
Transport, Postal and Warehousing10,698.24.77.58,,546.3
Information Media and Telecommunications19,,927.87.93.0+4,241.0
Financial and Insurance Services53,395.123.67.942,013.622.27.9+11,381.5
Rental, Hiring and Real Estate Services9,560.84.24.49,
Professional, Scientific and Technical Services37,731.316.78.727,886.514.78.1+9,844.9
Administrative and Support Services10,,854.54.13.3+2,150.0
Public Administration and Safety16,,,052.7
Education and Training7,,725.43.54.1+291.4
Health Care and Social Assistance7,321.73.26.75,440.02.95.8+1,881.8
Arts and Recreation Services6,,972.63.71.7-915.4
Other Services1,930.10.92.11,616.00.92.0+314.1
Total industries225,976.5100.0100.0189,609.1100.0100.0+36,367.4

Source: National Institute of Economic and Industry Research (NIEIR) ©2024. ©2023. Compiled and presented in by .id (informed decisions). Data are based on a 2020/21 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

Please refer to specific data notes for more information
Did you know? By clicking/tapping on a category in the chart below you will be able to drilldown to the sub categories.
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Dominant groups

An analysis of the output by industry sectors in the City of Melbourne in 2022/23 shows the three largest industries were:

  • Financial and Insurance Services ($53,395 million or 23.6%)
  • Professional, Scientific and Technical Services ($37,731 million or 16.7%)
  • Information Media and Telecommunications ($19,169 million or 8.5%)

In combination these three industries accounted for $110,295 million in total or 48.8% of the total output by total industry in the the City of Melbourne.

In comparison, the same 3 industries in Victoria accounted for 7.9% in Financial and Insurance Services; 8.7% in Professional, Scientific and Technical Services and 3.7% in Information Media and Telecommunications.

The major differences between output by industries of the City of Melbourne and Victoria were:

  • A larger percentage of output by Financial and Insurance Services (23.6% compared to 7.9%)
  • A smaller percentage of output by Manufacturing (3.3% compared to 12.1%)
  • A smaller percentage of output by Construction (6.1% compared to 14.5%)
  • A larger percentage of output by Professional, Scientific and Technical Services (16.7% compared to 8.7%)

Emerging groups

The total industry output in the City of Melbourne increased by $36,367 million between 2016/17 and 2022/23.

The largest changes in the output by industries between 2016/17 and 2022/23 in the City of Melbourne were for:

  • Financial and Insurance Services (+$11,382 million)
  • Professional, Scientific and Technical Services (+$9,845 million)
  • Public Administration and Safety (+$5,053 million)
  • Information Media and Telecommunications (+$4,241 million)

City of Melbourne

economic profile