Output by industry is a gross measure of the total sales of each industry sector in the City of Monash. 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 Monash’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.
National Economics (NIEIR) - Modelled series
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|Output by industry sector|
|City of Monash||2019/20||2014/15||Change|
|Industry||$m||%||Victoria||$m||%||Victoria||2014/15 - 2019/20|
|Agriculture, Forestry and Fishing||36.0||0.1||2.3||45.6||0.2||3.4||-9.6|
|Electricity, Gas, Water and Waste Services||971.6||2.6||3.5||871.2||2.9||3.4||+100.4|
|Accommodation and Food Services||561.9||1.5||2.4||457.2||1.5||2.4||+104.7|
|Transport, Postal and Warehousing||1,991.8||5.3||5.7||1,500.4||5.0||5.9||+491.4|
|Information Media and Telecommunications||1,360.8||3.6||3.9||981.9||3.3||3.1||+378.9|
|Financial and Insurance Services||1,988.6||5.3||8.8||1,599.1||5.3||8.6||+389.5|
|Rental, Hiring and Real Estate Services||2,726.4||7.3||7.3||2,432.7||8.1||8.1||+293.8|
|Professional, Scientific and Technical Services||3,141.6||8.4||8.2||2,444.3||8.1||7.9||+697.3|
|Administrative and Support Services||1,487.8||4.0||3.5||1,245.2||4.1||3.5||+242.6|
|Public Administration and Safety||987.8||2.6||4.2||826.0||2.7||4.2||+161.8|
|Education and Training||2,633.7||7.1||3.9||2,272.3||7.5||3.9||+361.5|
|Health Care and Social Assistance||2,815.7||7.5||6.1||1,835.1||6.1||5.2||+980.5|
|Arts and Recreation Services||281.8||0.8||1.8||253.9||0.8||1.8||+28.0|
Source: National Institute of Economic and Industry Research (NIEIR) (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
An analysis of the output by industry sectors in the City of Monash in 2019/20 shows the three largest industries were:
- Manufacturing ($5,159 million or 13.8%)
- Construction ($5,022 million or 13.4%)
- Wholesale Trade ($3,609 million or 9.7%)
In combination these three industries accounted for $13,790 million in total or 36.9% of the total output by total industry in the the City of Monash.
In comparison, the same 3 industries in Victoria accounted for 11.9% in Manufacturing; 15.1% in Construction and 4.7% in Wholesale Trade.
The major differences between output by industries of the City of Monash and Victoria were:
- A larger percentage of output by Wholesale Trade (9.7% compared to 4.7%)
- A smaller percentage of output by Financial and Insurance Services (5.3% compared to 8.8%)
- A larger percentage of output by Education and Training (7.1% compared to 3.9%)
- A smaller percentage of output by Agriculture, Forestry and Fishing (0.1% compared to 2.3%)
The total industry output in the City of Monash increased by $7,254 million between 2014/15 and 2019/20.
The largest changes in the output by industries between 2014/15 and 2019/20 in the City of Monash were for:
- Construction (+$2,241 million)
- Health Care and Social Assistance (+$981 million)
- Professional, Scientific and Technical Services (+$697 million)
- Retail Trade (+$589 million)