Greater Sydney

Value added

In Greater Sydney, Financial and Insurance Services most productive industry, generating $62,481 million in 2022/23.

Value added by industry is an indicator of business productivity in Greater Sydney. 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 Greater Sydney’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.

Data source

National Economics (NIEIR) - Modelled series

Current area:
Current benchmark:
Comparison year:
reset
Did you know? By clicking/tapping on a data row in the table you will be able to see sub categories.
Value added by industry sector
Greater Sydney2022/232017/18Change
Industry$m%. New South Wales$m%. New South Wales2017/18 - 2022/23
Agriculture, Forestry and Fishing1,903.50.52.51,487.60.42.4+415.8
Mining3,345.10.85.13,708.61.06.6-363.6
Manufacturing26,502.06.36.227,135.57.16.8-633.5
Electricity, Gas, Water and Waste Services6,893.01.62.07,254.81.92.2-361.8
Construction32,754.67.88.134,118.68.98.9-1,364.0
Wholesale Trade23,444.25.64.823,363.16.15.2+81.1
Retail Trade19,061.94.55.118,190.54.85.1+871.4
Accommodation and Food Services10,751.62.63.110,056.22.62.9+695.4
Transport, Postal and Warehousing28,502.86.86.026,952.07.06.2+1,550.8
Information Media and Telecommunications24,407.25.84.416,426.54.33.3+7,980.7
Financial and Insurance Services62,481.214.811.356,655.114.811.3+5,826.1
Rental, Hiring and Real Estate Services19,393.34.64.118,809.34.94.4+583.9
Professional, Scientific and Technical Services55,133.313.110.545,221.111.89.5+9,912.1
Administrative and Support Services22,138.15.34.919,484.75.14.6+2,653.4
Public Administration and Safety21,393.25.15.217,932.04.74.9+3,461.2
Education and Training22,160.75.35.620,598.75.45.6+1,562.0
Health Care and Social Assistance30,818.77.38.624,493.96.47.3+6,324.8
Arts and Recreation Services3,792.50.90.83,802.01.00.9-9.5
Other Services6,208.61.51.67,086.21.92.0-877.6
Total industries421,085.4100.0100.0382,776.5100.0100.0+38,308.9

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 more

Please refer to specific data notes for more information
Did you know? By clicking/tapping on a category in the chart below you will be able to drilldown to the sub categories.
loading animation
loading animation

Dominant groups

An analysis of the valued added by industry sectors in Greater Sydney in 2021/22 shows the three largest industries were:

  • Financial and Insurance Services (62,481 million or 14.8%)
  • Professional, Scientific and Technical Services (55,133 million or 13.1%)
  • Construction (32,755 million or 7.8%)

In combination these three industries accounted for 150,369 million in total or 35.7% of the total value added by industry in the Greater Sydney.

In comparison, the same 3 industries in New South Wales accounted for 11.3% in Financial and Insurance Services; 10.5% in Professional, Scientific and Technical Services and 8.1% in Construction.

The major differences between the value added by industries of Greater Sydney and New South Wales were:

  • A smaller percentage of value added by Mining (0.8% compared to 5.1%)
  • A larger percentage of value added by Financial and Insurance Services (14.8% compared to 11.3%)
  • A larger percentage of value added by Professional, Scientific and Technical Services (13.1% compared to 10.5%)
  • A smaller percentage of value added by Agriculture, Forestry and Fishing (0.5% compared to 2.5%)

Emerging groups

The total value added by industry in Greater Sydney $increased by 38,309 million between 2017/18 and 2022/23.

The largest changes in the value added by industries between 2017/18 and 2022/23 in Greater Sydney were for:

  • Professional, Scientific and Technical Services (+$9,912 million)
  • Information Media and Telecommunications (+$7,981 million)
  • Health Care and Social Assistance (+$6,325 million)
  • Financial and Insurance Services (+$5,826 million)

Greater Sydney

economic profile