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Wakefield Regional Council area

Gross Regional Product

Wakefield Regional Council area’s Gross Regional Product was $0.38 billion in the year ending June 2018, declining -3.6% 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

Wakefield Regional 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
2018379-3.61791801.00
2017393+12.81801840.98
2016348+1.12122220.96
2015344+2.62292760.83
2014336-4.32363110.76
2013351-9.02482960.84
2012386-5.62722740.99
2011408-1.72792791.00
2010415+7.02602680.97
2009388+6.42542740.92
2008365+7.32572830.91
2007340-11.42492740.91
2006384-15.42702990.90
2005454-7.83143570.88
2004492-8.53554000.89
2003538-15.23884350.89
2002634+6.24765280.90
2001597--4324720.92

Source: National Institute of Economic and Industry Research (NIEIR) ©2018. Compiled and presented in economy.id by .id , 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

Wakefield Regional Council area - Gross Regional Product
Wakefield Regional Council area - Gross Regional Product 2001, Resident GRP: 472 million 2002, Resident GRP: 528 million 2003, Resident GRP: 435 million 2004, Resident GRP: 400 million 2005, Resident GRP: 357 million 2006, Resident GRP: 299 million 2007, Resident GRP: 274 million 2008, Resident GRP: 283 million 2009, Resident GRP: 274 million 2010, Resident GRP: 268 million 2011, Resident GRP: 279 million 2012, Resident GRP: 274 million 2013, Resident GRP: 296 million 2014, Resident GRP: 311 million 2015, Resident GRP: 276 million 2016, Resident GRP: 222 million 2017, Resident GRP: 184 million 2018, Resident GRP: 180 million 2001, Industry GRP: 432 million 2002, Industry GRP: 476 million 2003, Industry GRP: 388 million 2004, Industry GRP: 355 million 2005, Industry GRP: 314 million 2006, Industry GRP: 270 million 2007, Industry GRP: 249 million 2008, Industry GRP: 257 million 2009, Industry GRP: 254 million 2010, Industry GRP: 260 million 2011, Industry GRP: 279 million 2012, Industry GRP: 272 million 2013, Industry GRP: 248 million 2014, Industry GRP: 236 million 2015, Industry GRP: 229 million 2016, Industry GRP: 212 million 2017, Industry GRP: 180 million 2018, Industry GRP: 179 million 2001, Headline GRP: 597 million 2002, Headline GRP: 634 million 2003, Headline GRP: 538 million 2004, Headline GRP: 492 million 2005, Headline GRP: 454 million 2006, Headline GRP: 384 million 2007, Headline GRP: 340 million 2008, Headline GRP: 365 million 2009, Headline GRP: 388 million 2010, Headline GRP: 415 million 2011, Headline GRP: 408 million 2012, Headline GRP: 386 million 2013, Headline GRP: 351 million 2014, Headline GRP: 336 million 2015, Headline GRP: 344 million 2016, Headline GRP: 348 million 2017, Headline GRP: 393 million 2018, Headline GRP: 379 million
Source: National Institute of Economic and Industry Research (NIEIR) ©2018
Compiled and presented in economy.id by .id the population experts

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