Industry sector profiles reveal the way in which each industry contributes to the economy in the City of Monash using ten economic measures generated by NIEIR economic modelling. This helps in understanding the role each industry sector plays in the economy.
For example, some industry sectors generate substantial output (turnover), but are not big employers and targeting those industry sectors may not meet the economic development objective of maximising employment.
In the first chart, you can also see how the output of an industry is divided between local sales, domestic exports and international exports. This information can reveal how an industry is structured, and whether it is focused on exporting or on serving the local population.
The table and second chart also show how the City of Monash contributes to the wider economy. For example, Agriculture in the City of Monash contributes 0.3% of Victoria’s Agriculture employment.
Industry sector analysis data should be viewed in conjunction with Employment by industry (Total), Employment by industry (FTE), Value added, Importsand Exports to see how each specific industry fits into the wider picture of all industries within the City of Monash. To see how concentrated each industry sector is, visit the Employment locations section.
The third chart refers to how employment in the City of Monash has changed overtime and how it compares to expected changes based on benchmark and industry trends. This type of analysis is explored further within the Shift-share analysis economic tool.”
National Economics (NIEIR) - Modelled series
|Industry sector analysis|
|City of Monash - All industries - Constant prices||2020/21||2015/16||Change|
|Economic measure||City of Monash||Victoria||City of Monash as a % of Victoria||City of Monash||Victoria||City of Monash as a % of Victoria||change|
|FTE to total employment ratio||0.82||0.81||0%||0.84||0.83||0%||-0.02|
|Output/Total Sales ($m)||36,128.18||880,178.02||4.1%||32,122.97||786,484.70||4.1%||+4,005.21|
|Value add ($m)||16,630.35||391,760.93||4.2%||14,753.30||355,027.50||4.2%||+1,877.05|
|Exports (domestic) ($m)||11,168.00||268,678.99||4.2%||10,003.96||244,633.76||4.1%||+1,164.04|
|Exports (international) ($m)||2,237.94||50,032.23||4.5%||2,395.33||49,649.83||4.8%||-157.39|
|Imports (domestic) ($m)||5,124.93||243,709.71||2.1%||5,290.08||226,125.68||2.3%||-165.16|
|Imports (international) ($m)||3,622.79||102,608.34||3.5%||3,510.40||97,343.72||3.6%||+112.39|
|Local Sales ($m)||22,772.15||563,066.87||4.0%||19,776.39||493,589.87||4.0%||+2,995.76|
|Worker productivity ($ per worker)||115,700||117,661||0%||117,003||117,132||0%||-1,303|
Source: National Institute of Economic and Industry Research (NIEIR) ©2021. Compiled and presented in economy.id by .id (informed decisions). Data are based on a 2018-19 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 morePlease refer to specific data notes for more information