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Northern Midlands Council area

Gross Regional Product

Northern Midlands Council area’s Gross Regional Product was $0.78 billion in the year ending June 2017, declining -1.9% 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 Midlands Council area - Gross Regional Product measures
Year ending JuneHeadline GRP $m% change from previous yearLocal industry GRP $mLocal residents GRP $mLocal industry to residents ratio
2017782-1.94154200.99
2016796+0.85235081.03
2015790+9.95365321.01
2014719+4.05135200.99
2013691-0.65065240.97
2012695+3.95215550.94
2011669+5.05025520.91
2010638+1.64765380.89
2009628+2.94865510.88
2008610+5.84825510.87
2007577-9.14425100.87
2006635-12.74785860.82
2005727-6.85296860.77
2004780-2.05577480.74
2003796-12.95877990.73
2002914+7.86829320.73
2001848--6158290.74

Source: National Institute of Economic and Industry Research (NIEIR) ©2016. Compiled and presented in economy.id by .id , the population experts.

Data are based on a 2015-16 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 Midlands Council area - Gross Regional Product
Northern Midlands Council area - Gross Regional Product 2001, Resident GRP: 829 million 2002, Resident GRP: 932 million 2003, Resident GRP: 799 million 2004, Resident GRP: 748 million 2005, Resident GRP: 686 million 2006, Resident GRP: 586 million 2007, Resident GRP: 510 million 2008, Resident GRP: 551 million 2009, Resident GRP: 551 million 2010, Resident GRP: 538 million 2011, Resident GRP: 552 million 2012, Resident GRP: 555 million 2013, Resident GRP: 524 million 2014, Resident GRP: 520 million 2015, Resident GRP: 532 million 2016, Resident GRP: 508 million 2017, Resident GRP: 420 million 2001, Industry GRP: 615 million 2002, Industry GRP: 682 million 2003, Industry GRP: 587 million 2004, Industry GRP: 557 million 2005, Industry GRP: 529 million 2006, Industry GRP: 478 million 2007, Industry GRP: 442 million 2008, Industry GRP: 482 million 2009, Industry GRP: 486 million 2010, Industry GRP: 476 million 2011, Industry GRP: 502 million 2012, Industry GRP: 521 million 2013, Industry GRP: 506 million 2014, Industry GRP: 513 million 2015, Industry GRP: 536 million 2016, Industry GRP: 523 million 2017, Industry GRP: 415 million 2001, Headline GRP: 848 million 2002, Headline GRP: 914 million 2003, Headline GRP: 796 million 2004, Headline GRP: 780 million 2005, Headline GRP: 727 million 2006, Headline GRP: 635 million 2007, Headline GRP: 577 million 2008, Headline GRP: 610 million 2009, Headline GRP: 628 million 2010, Headline GRP: 638 million 2011, Headline GRP: 669 million 2012, Headline GRP: 695 million 2013, Headline GRP: 691 million 2014, Headline GRP: 719 million 2015, Headline GRP: 790 million 2016, Headline GRP: 796 million 2017, Headline GRP: 782 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2016
Compiled and presented in economy.id by .id the population experts

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