Value added by industry is an indicator of business productivity in Randwick City. 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 Randwick City’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|
|Industry||$m||%||New South Wales||$m||%||New South Wales||2015/16 - 2020/21|
|Agriculture, Forestry and Fishing||28.0||0.4||2.1||13.3||0.2||2.3||+14.7|
|Electricity, Gas, Water and Waste Services||130.8||1.8||2.4||34.3||0.5||2.6||+96.4|
|Accommodation and Food Services||227.2||3.0||2.6||257.8||3.9||3.0||-30.6|
|Transport, Postal and Warehousing||731.5||9.8||5.3||953.5||14.3||6.4||-222.0|
|Information Media and Telecommunications||77.0||1.0||3.7||65.1||1.0||3.4||+11.9|
|Financial and Insurance Services||178.3||2.4||12.7||183.8||2.8||13.3||-5.5|
|Rental, Hiring and Real Estate Services||338.0||4.5||4.6||299.4||4.5||4.4||+38.6|
|Professional, Scientific and Technical Services||408.2||5.5||10.7||343.2||5.1||8.9||+65.0|
|Administrative and Support Services||218.4||2.9||4.4||246.9||3.7||4.7||-28.5|
|Public Administration and Safety||549.5||7.4||5.7||506.1||7.6||5.4||+43.4|
|Education and Training||1,831.4||24.5||5.9||1,522.4||22.8||6.0||+309.0|
|Health Care and Social Assistance||1,398.1||18.7||8.5||998.3||15.0||7.1||+399.9|
|Arts and Recreation Services||79.0||1.1||0.9||96.7||1.4||0.9||-17.6|
Source: National Institute of Economic and Industry Research (NIEIR) ©2021. 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 Randwick City in 2020/21 shows the three largest industries were:
- Education and Training (1,831 million or 24.5%)
- Health Care and Social Assistance (1,398 million or 18.7%)
- Transport, Postal and Warehousing (731 million or 9.8%)
In combination these three industries accounted for 3,961 million in total or 53.0% of the total value added by industry in the Randwick City.
In comparison, the same 3 industries in New South Wales accounted for 5.9% in Education and Training; 8.5% in Health Care and Social Assistance and 5.3% in Transport, Postal and Warehousing.
The major differences between the value added by industries of Randwick City and New South Wales were:
- A larger percentage of value added by Education and Training (24.5% compared to 5.9%)
- A smaller percentage of value added by Financial and Insurance Services (2.4% compared to 12.7%)
- A larger percentage of value added by Health Care and Social Assistance (18.7% compared to 8.5%)
- A smaller percentage of value added by Professional, Scientific and Technical Services (5.5% compared to 10.7%)
The total value added by industry in Randwick City $increased by 792 million between 2015/16 and 2020/21.
The largest changes in the value added by industries between 2015/16 and 2020/21 in Randwick City were for:
- Health Care and Social Assistance (+$400 million)
- Education and Training (+$309 million)
- Wholesale Trade (+$125 million)
- Electricity, Gas, Water and Waste Services (+$96 million)