In the Murchison Area, Mining is the most productive industry, generating $574 million in 2017/18.
Value added by industry is an indicator of business productivity in Murchison Area. It shows how productive each industry sector is at increasing the value of its inputs. It is a more refined measure of the productivity of an industry sector than output (total gross revenue), as some industries have high levels of output but require large amounts of input expenditure to achieve that.
By comparing the value added of each industry sector to a regional benchmark, you can clearly see the structure of Murchison Area’s economy. This can be done by directly comparing the percentage contribution of each industry to the total output, relative to the benchmark, or by using a location quotient, where a number greater than one indicates a high concentration of that industry and less than one indicates a lower concentration.
To see what contribution each industry makes to the state or region, see the Industry sector analysis section. To understand the value of a worker in each industry, view this dataset in conjunction with Worker productivity data, and to see the relationship of value added to the total size of the economy, go to the Gross Regional Product section.
Detailed notes about how the figures are derived can be found in the specific topic notes section.
National Economics (NIEIR) - Modelled series
|Value added by industry sector|
|Murchison Area - Constant prices||2017/18||2012/13||Change|
|Industry (Click rows to view sub-categories)||$m||%||Tasmania%||$m||%||Tasmania%||2012/13 to 2017/18|
|Agriculture, Forestry and Fishing||411.1||23.7||10.9||365.9||21.7||10.0||+45.2||23000||P|
|Electricity, Gas, Water and Waste Services||17.0||1.0||3.1||20.6||1.2||4.3||-3.5||23300||P|
|Accommodation and Food Services||38.0||2.2||3.0||34.0||2.0||3.1||+4.1||23700||P|
|Transport, Postal and Warehousing||38.7||2.2||3.9||43.6||2.6||4.8||-4.9||23800||P|
|Information Media and Telecommunications||14.1||0.8||3.9||9.9||0.6||3.6||+4.2||23900||P|
|Financial and Insurance Services||32.0||1.8||8.1||24.7||1.5||7.0||+7.4||24000||P|
|Rental, Hiring and Real Estate Services||9.3||0.5||1.8||8.0||0.5||1.7||+1.3||24100||P|
|Professional, Scientific and Technical Services||13.2||0.8||3.2||12.5||0.7||3.3||+0.7||24200||P|
|Administrative and Support Services||19.8||1.1||1.9||15.5||0.9||2.0||+4.4||24300||P|
|Public Administration and Safety||33.8||2.0||7.5||27.3||1.6||7.2||+6.5||24400||P|
|Education and Training||54.5||3.1||7.4||47.9||2.8||7.6||+6.6||24500||P|
|Health Care and Social Assistance||88.9||5.1||15.4||77.0||4.6||13.9||+11.9||24600||P|
|Arts and Recreation Services||7.3||0.4||1.2||4.8||0.3||1.2||+2.4||24700||P|
Source: National Institute of Economic and Industry Research (NIEIR) (opens a new window) ©2018. Compiled and presented in economy.id by .id (opens a new window), 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
An analysis of the valued added by industry sectors in Murchison Area in 2017/18 shows the three largest industries were:
- Mining ($574 million or 33.1%)
- Agriculture, Forestry and Fishing ($411 million or 23.7%)
- Manufacturing ($147 million or 8.5%)
In combination these three industries accounted for $1,133 million in total or 65.4% of the total value added by industry in the Murchison Area.
In comparison, the same 3 industries in Tasmania accounted for 4.7% in Mining; 10.9% in Agriculture, Forestry and Fishing; and 7.2% in Manufacturing.
The major differences between the value added by industries of the Murchison Area and Tasmania were:
- A larger percentage of value added by Mining (33.1% compared to 4.7%)
- A larger percentage of value added by Agriculture, Forestry and Fishing (23.7% compared to 10.9%)
- A smaller percentage of value added by Health Care and Social Assistance (5.1% compared to 15.4%)
- A smaller percentage of value added by Financial and Insurance Services (1.8% compared to 8.1%)
The total value added by industry in the Murchison Area increased by 43.4 million between 2012/13 and 2017/18.
The largest change in the value added by industries between 2012/13 and 2017/18 in the Murchison Area was for:
- Mining (-$67 million)