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City of Monash

Gross Regional Product

City of Monash’s Gross Regional Product was $18.48 billion in the year ending June 2019, growing 5.1% 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. 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 Monash - Gross Regional Product measures
Year ending JuneHeadline GRP $m% change from previous yearLocal industry GRP $mLocal residents GRP $mLocal industry to residents ratio
201918,482+5.114,16710,4571.35
201817,579+6.413,66910,2231.34
201716,521+4.512,8799,7361.32
201615,816+4.412,3369,3691.32
201515,149+2.712,0159,2641.30
201414,758+2.611,9109,3571.27
201314,379+0.811,7399,3131.26
201214,270+1.811,4379,1351.25
201114,015+3.611,2528,9401.26
201013,530+0.710,8348,5431.27
200913,434+0.410,5368,1671.29
200813,385+1.710,5628,0431.31
200713,168+0.810,0187,5931.32
200613,069+2.49,5617,2821.31
200512,758+4.29,3507,0711.32
200412,241+3.09,1296,7911.34
200311,885+4.48,9926,7781.33
200211,383+2.58,8246,7421.31
200111,107--8,2476,3191.31

Source: National Institute of Economic and Industry Research (NIEIR) ©2019. Compiled and presented in economy.id by .id , 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

City of Monash - Gross Regional Product
City of Monash - Gross Regional Product 2001, Resident GRP: 6,319 million 2002, Resident GRP: 6,742 million 2003, Resident GRP: 6,778 million 2004, Resident GRP: 6,791 million 2005, Resident GRP: 7,071 million 2006, Resident GRP: 7,282 million 2007, Resident GRP: 7,593 million 2008, Resident GRP: 8,043 million 2009, Resident GRP: 8,167 million 2010, Resident GRP: 8,543 million 2011, Resident GRP: 8,940 million 2012, Resident GRP: 9,135 million 2013, Resident GRP: 9,313 million 2014, Resident GRP: 9,357 million 2015, Resident GRP: 9,264 million 2016, Resident GRP: 9,369 million 2017, Resident GRP: 9,736 million 2018, Resident GRP: 10,223 million 2019, Resident GRP: 10,457 million 2001, Industry GRP: 8,247 million 2002, Industry GRP: 8,824 million 2003, Industry GRP: 8,992 million 2004, Industry GRP: 9,129 million 2005, Industry GRP: 9,350 million 2006, Industry GRP: 9,561 million 2007, Industry GRP: 10,018 million 2008, Industry GRP: 10,562 million 2009, Industry GRP: 10,536 million 2010, Industry GRP: 10,834 million 2011, Industry GRP: 11,252 million 2012, Industry GRP: 11,437 million 2013, Industry GRP: 11,739 million 2014, Industry GRP: 11,910 million 2015, Industry GRP: 12,015 million 2016, Industry GRP: 12,336 million 2017, Industry GRP: 12,879 million 2018, Industry GRP: 13,669 million 2019, Industry GRP: 14,167 million 2001, Headline GRP: 11,107 million 2002, Headline GRP: 11,383 million 2003, Headline GRP: 11,885 million 2004, Headline GRP: 12,241 million 2005, Headline GRP: 12,758 million 2006, Headline GRP: 13,069 million 2007, Headline GRP: 13,168 million 2008, Headline GRP: 13,385 million 2009, Headline GRP: 13,434 million 2010, Headline GRP: 13,530 million 2011, Headline GRP: 14,015 million 2012, Headline GRP: 14,270 million 2013, Headline GRP: 14,379 million 2014, Headline GRP: 14,758 million 2015, Headline GRP: 15,149 million 2016, Headline GRP: 15,816 million 2017, Headline GRP: 16,521 million 2018, Headline GRP: 17,579 million 2019, Headline GRP: 18,482 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2019
Compiled and presented in economy.id by .id the population experts

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