Northern Tasmania RegionEconomic profile
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Northern Tasmania Region

Gross Regional Product

Northern Tasmania Region’s Gross Regional Product was $8.22 billion in the year ending June 2019, growing 2.9% 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 Region. 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

Northern Tasmania Region - Gross Regional Product measures
Year ending JuneHeadline GRP $m% change from previous yearLocal industry GRP $mLocal residents GRP $mLocal industry to residents ratio
20198,222+2.96,0196,1620.98
20187,991+0.76,0226,1600.98
20177,932+3.25,8815,9400.99
20167,687+0.15,7075,7730.99
20157,681+0.65,6005,6520.99
20147,636+0.95,3445,3890.99
20137,570-0.85,3885,4370.99
20127,633+0.25,5475,6020.99
20117,622+2.05,6495,7080.99
20107,473+0.35,6885,7630.99
20097,451+3.15,5345,6160.99
20087,226+5.45,3645,4470.98
20076,857+2.35,0065,0820.99
20066,706-1.44,8654,9350.99
20056,801-0.24,7424,8050.99
20046,813+3.34,5694,6290.99
20036,597+0.74,3534,4040.99
20026,550+5.74,4754,5230.99
20016,194--4,0134,0620.99

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

Northern Tasmania Region - Gross Regional Product
Northern Tasmania Region - Gross Regional Product 2001, Resident GRP: 4,062 million 2002, Resident GRP: 4,523 million 2003, Resident GRP: 4,404 million 2004, Resident GRP: 4,629 million 2005, Resident GRP: 4,805 million 2006, Resident GRP: 4,935 million 2007, Resident GRP: 5,082 million 2008, Resident GRP: 5,447 million 2009, Resident GRP: 5,616 million 2010, Resident GRP: 5,763 million 2011, Resident GRP: 5,708 million 2012, Resident GRP: 5,602 million 2013, Resident GRP: 5,437 million 2014, Resident GRP: 5,389 million 2015, Resident GRP: 5,652 million 2016, Resident GRP: 5,773 million 2017, Resident GRP: 5,940 million 2018, Resident GRP: 6,160 million 2019, Resident GRP: 6,162 million 2001, Industry GRP: 4,013 million 2002, Industry GRP: 4,475 million 2003, Industry GRP: 4,353 million 2004, Industry GRP: 4,569 million 2005, Industry GRP: 4,742 million 2006, Industry GRP: 4,865 million 2007, Industry GRP: 5,006 million 2008, Industry GRP: 5,364 million 2009, Industry GRP: 5,534 million 2010, Industry GRP: 5,688 million 2011, Industry GRP: 5,649 million 2012, Industry GRP: 5,547 million 2013, Industry GRP: 5,388 million 2014, Industry GRP: 5,344 million 2015, Industry GRP: 5,600 million 2016, Industry GRP: 5,707 million 2017, Industry GRP: 5,881 million 2018, Industry GRP: 6,022 million 2019, Industry GRP: 6,019 million 2001, Headline GRP: 6,194 million 2002, Headline GRP: 6,550 million 2003, Headline GRP: 6,597 million 2004, Headline GRP: 6,813 million 2005, Headline GRP: 6,801 million 2006, Headline GRP: 6,706 million 2007, Headline GRP: 6,857 million 2008, Headline GRP: 7,226 million 2009, Headline GRP: 7,451 million 2010, Headline GRP: 7,473 million 2011, Headline GRP: 7,622 million 2012, Headline GRP: 7,633 million 2013, Headline GRP: 7,570 million 2014, Headline GRP: 7,636 million 2015, Headline GRP: 7,681 million 2016, Headline GRP: 7,687 million 2017, Headline GRP: 7,932 million 2018, Headline GRP: 7,991 million 2019, Headline GRP: 8,222 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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