Value added by industry is an indicator of business productivity in the City of Port Phillip. 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 the City of Port Phillip’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 analysissection. 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|
|City of Port Phillip||2021/22||2016/17||Change|
|Industry||$m||%||Victoria||$m||%||Victoria||2016/17 - 2021/22|
|Agriculture, Forestry and Fishing||56.9||0.5||2.9||65.9||0.5||2.8||-9.0|
|Electricity, Gas, Water and Waste Services||71.4||0.6||2.9||80.8||0.6||3.3||-9.5|
|Accommodation and Food Services||281.5||2.3||2.0||336.2||2.6||2.3||-54.7|
|Transport, Postal and Warehousing||631.0||5.2||5.3||763.8||5.9||6.0||-132.9|
|Information Media and Telecommunications||661.8||5.5||3.3||577.6||4.5||3.0||+84.2|
|Financial and Insurance Services||1,331.3||11.0||11.0||1,866.8||14.5||11.0||-535.4|
|Rental, Hiring and Real Estate Services||757.4||6.3||3.2||823.8||6.4||3.3||-66.4|
|Professional, Scientific and Technical Services||2,649.3||21.9||10.0||2,526.1||19.6||8.9||+123.1|
|Administrative and Support Services||1,110.7||9.2||4.5||1,033.3||8.0||4.3||+77.3|
|Public Administration and Safety||328.1||2.7||6.0||318.6||2.5||5.5||+9.5|
|Education and Training||410.7||3.4||6.2||377.7||2.9||6.4||+33.0|
|Health Care and Social Assistance||776.2||6.4||10.1||679.0||5.3||8.5||+97.2|
|Arts and Recreation Services||202.2||1.7||1.2||305.2||2.4||1.2||-103.0|
Source: National Institute of Economic and Industry Research (NIEIR) ©2023. Compiled and presented in economy.id by .id (informed decisions). NIEIR-ID data are adjusted each year, using updated employment estimates. Each release may change previous years’ figures. Learn morePlease refer to specific data notes for more information
An analysis of the valued added by industry sectors in the City of Port Phillip in 2021/22 shows the three largest industries were:
- Professional, Scientific and Technical Services (2,649 million or 21.9%)
- Financial and Insurance Services (1,331 million or 11.0%)
- Administrative and Support Services (1,111 million or 9.2%)
In combination these three industries accounted for 5,091 million in total or 42.1% of the total value added by industry in the the City of Port Phillip.
In comparison, the same 3 industries in Victoria accounted for 10.0% in Professional, Scientific and Technical Services; 11.0% in Financial and Insurance Services and 4.5% in Administrative and Support Services.
The major differences between the value added by industries of the City of Port Phillip and Victoria were:
- A larger percentage of value added by Professional, Scientific and Technical Services (21.9% compared to 10.0%)
- A smaller percentage of value added by Manufacturing (3.0% compared to 7.9%)
- A larger percentage of value added by Administrative and Support Services (9.2% compared to 4.5%)
- A smaller percentage of value added by Health Care and Social Assistance (6.4% compared to 10.1%)
The total value added by industry in the City of Port Phillip $decreased by -784 million between 2016/17 and 2021/22.
The largest changes in the value added by industries between 2016/17 and 2021/22 in the City of Port Phillip were for:
- Professional, Scientific and Technical Services (+$123 million)
- Health Care and Social Assistance (+$97 million)
- Mining (+$86 million)
- Information Media and Telecommunications (+$84 million)