Northern Tasmania RegionEconomic profile
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Northern Tasmania Region

Gross Regional Product

Northern Tasmania Region’s Gross Regional Product was $7.85 billion in the year ending June 2018, growing 0.3% 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
20187,848+0.33,9714,0300.99
20177,828+4.24,0924,1170.99
20167,510-0.54,7034,7460.99
20157,548+1.14,9975,0420.99
20147,468+0.85,0995,1480.99
20137,408+0.25,1615,2070.99
20127,390-0.45,4605,4980.99
20117,418+2.05,5085,5710.99
20107,276+0.65,4535,5140.99
20097,236+2.45,4365,5130.99
20087,065+3.65,3435,4220.99
20076,818+0.74,9705,0410.99
20066,770+0.64,8864,9510.99
20056,728-1.34,7674,8270.99
20046,819+5.64,5334,5970.99
20036,459-2.94,2444,2920.99
20026,649+5.74,3194,3650.99
20016,287--3,9834,0280.99

Source: National Institute of Economic and Industry Research (NIEIR) ©2018. 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: 4,028 million 2002, Resident GRP: 4,365 million 2003, Resident GRP: 4,292 million 2004, Resident GRP: 4,597 million 2005, Resident GRP: 4,827 million 2006, Resident GRP: 4,951 million 2007, Resident GRP: 5,041 million 2008, Resident GRP: 5,422 million 2009, Resident GRP: 5,513 million 2010, Resident GRP: 5,514 million 2011, Resident GRP: 5,571 million 2012, Resident GRP: 5,498 million 2013, Resident GRP: 5,207 million 2014, Resident GRP: 5,148 million 2015, Resident GRP: 5,042 million 2016, Resident GRP: 4,746 million 2017, Resident GRP: 4,117 million 2018, Resident GRP: 4,030 million 2001, Industry GRP: 3,983 million 2002, Industry GRP: 4,319 million 2003, Industry GRP: 4,244 million 2004, Industry GRP: 4,533 million 2005, Industry GRP: 4,767 million 2006, Industry GRP: 4,886 million 2007, Industry GRP: 4,970 million 2008, Industry GRP: 5,343 million 2009, Industry GRP: 5,436 million 2010, Industry GRP: 5,453 million 2011, Industry GRP: 5,508 million 2012, Industry GRP: 5,460 million 2013, Industry GRP: 5,161 million 2014, Industry GRP: 5,099 million 2015, Industry GRP: 4,997 million 2016, Industry GRP: 4,703 million 2017, Industry GRP: 4,092 million 2018, Industry GRP: 3,971 million 2001, Headline GRP: 6,287 million 2002, Headline GRP: 6,649 million 2003, Headline GRP: 6,459 million 2004, Headline GRP: 6,819 million 2005, Headline GRP: 6,728 million 2006, Headline GRP: 6,770 million 2007, Headline GRP: 6,818 million 2008, Headline GRP: 7,065 million 2009, Headline GRP: 7,236 million 2010, Headline GRP: 7,276 million 2011, Headline GRP: 7,418 million 2012, Headline GRP: 7,390 million 2013, Headline GRP: 7,408 million 2014, Headline GRP: 7,468 million 2015, Headline GRP: 7,548 million 2016, Headline GRP: 7,510 million 2017, Headline GRP: 7,828 million 2018, Headline GRP: 7,848 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2018
Compiled and presented in economy.id by .id the population experts

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