City of Port Phillip
In City of Port Phillip, Professional, Scientific and Technical Services is the most productive industry, generating $2,497 million in 2017/18.
Value added by industry is an indicator of business productivity in City of Port Phillip. It shows how productive each industry sector is at increasing the value of its inputs. It is a more refined measure of the productivity of an industry sector than output (total gross revenue), as some industries have high levels of output but require large amounts of input expenditure to achieve that.
By comparing the value added of each industry sector to a regional benchmark, you can clearly see the structure of City of Port Phillip’s economy. This can be done by directly comparing the percentage contribution of each industry to the total output, relative to the benchmark, or by using a location quotient, where a number greater than one indicates a high concentration of that industry and less than one indicates a lower concentration.
To see what contribution each industry makes to the state or region, see the Industry sector analysis section. To understand the value of a worker in each industry, view this dataset in conjunction with Worker productivity data, and to see the relationship of value added to the total size of the economy, go to the Gross Regional Product section.
Detailed notes about how the figures are derived can be found in the specific topic notes section.
National Economics (NIEIR) - Modelled series
|Value added by industry sector|
|City of Port Phillip - Constant prices||2017/18||2012/13||Change|
|Industry (Click rows to view sub-categories)||$m||%||Victoria%||$m||%||Victoria%||2012/13 to 2017/18|
|Agriculture, Forestry and Fishing||67.5||0.6||3.5||39.8||0.4||3.2||+27.7||23000||P|
|Electricity, Gas, Water and Waste Services||80.6||0.7||3.1||83.3||0.8||3.2||-2.7||23300||P|
|Accommodation and Food Services||385.0||3.2||2.7||286.3||2.7||2.4||+98.7||23700||P|
|Transport, Postal and Warehousing||624.0||5.2||5.7||544.8||5.1||5.6||+79.3||23800||P|
|Information Media and Telecommunications||643.4||5.4||3.7||543.9||5.1||3.4||+99.5||23900||P|
|Financial and Insurance Services||1,912.1||16.0||11.6||1,816.2||17.1||11.9||+95.8||24000||P|
|Rental, Hiring and Real Estate Services||835.1||7.0||3.5||593.9||5.6||3.1||+241.2||24100||P|
|Professional, Scientific and Technical Services||2,496.8||20.9||9.3||2,156.1||20.3||8.8||+340.7||24200||P|
|Administrative and Support Services||818.6||6.8||3.9||764.8||7.2||4.0||+53.8||24300||P|
|Public Administration and Safety||311.0||2.6||5.3||363.9||3.4||5.7||-52.9||24400||P|
|Education and Training||334.0||2.8||6.0||262.9||2.5||6.6||+71.1||24500||P|
|Health Care and Social Assistance||646.5||5.4||9.2||443.0||4.2||8.0||+203.4||24600||P|
|Arts and Recreation Services||221.4||1.8||1.2||251.8||2.4||1.4||-30.4||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 City of Port Phillip in 2017/18 shows the three largest industries were:
- Professional, Scientific and Technical Services ($2,497 million or 20.9%)
- Financial and Insurance Services ($1,912 million or 16.0%)
- Rental, Hiring and Real Estate Services ($835 million or 7.0%)
In combination these three industries accounted for $5,244 million in total or 43.8% of the total value added by industry in City of Port Phillip.
In comparison, the same 3 industries in Victoria accounted for 9.3% in Professional, Scientific and Technical Services; 11.6% in Financial and Insurance Services; and 3.5% in Rental, Hiring and Real Estate Services.
The major differences between the value added by industries of City of Port Phillip and Victoria were:
- A larger percentage of value added by Professional, Scientific and Technical Services (20.9% compared to 9.3%)
- A larger percentage of value added by Financial and Insurance Services (16.0% compared to 11.6%)
- A smaller percentage of value added by Manufacturing (3.6% compared to 8.2%)
- A smaller percentage of value added by Health Care and Social Assistance (5.4% compared to 9.2%)
The total value added by industry in City of Port Phillip increased by 1,353.8 million between 2012/13 and 2017/18.
The largest changes in the value added by industries between 2012/13 and 2017/18 in City of Port Phillip were for:
- Professional, Scientific and Technical Services (+$341 million)
- Rental, Hiring and Real Estate Services (+$241 million)
- Health Care and Social Assistance (+$203 million)
- Retail Trade (+$102 million)