Value added by industry is an indicator of business productivity in Woollahra Municipal Council area. 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 Woollahra Municipal Council area’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|
|Woollahra Municipal Council area||2021/22||2016/17||Change|
|Industry||$m||%||New South Wales||$m||%||New South Wales||2016/17 - 2021/22|
|Agriculture, Forestry and Fishing||18.7||0.5||2.4||10.8||0.3||2.4||+7.9|
|Electricity, Gas, Water and Waste Services||5.9||0.2||2.2||4.4||0.1||2.4||+1.4|
|Accommodation and Food Services||165.8||4.4||2.5||163.6||4.7||3.0||+2.3|
|Transport, Postal and Warehousing||38.7||1.0||5.7||37.3||1.1||6.7||+1.4|
|Information Media and Telecommunications||88.5||2.4||4.0||71.7||2.1||3.3||+16.8|
|Financial and Insurance Services||383.0||10.2||12.6||316.2||9.1||12.7||+66.7|
|Rental, Hiring and Real Estate Services||635.1||17.0||4.5||644.2||18.5||4.6||-9.1|
|Professional, Scientific and Technical Services||422.4||11.3||11.1||399.4||11.5||9.6||+23.0|
|Administrative and Support Services||198.1||5.3||5.0||173.6||5.0||4.6||+24.5|
|Public Administration and Safety||247.1||6.6||5.4||233.1||6.7||5.2||+13.9|
|Education and Training||255.5||6.8||5.9||251.9||7.3||6.0||+3.6|
|Health Care and Social Assistance||321.0||8.6||8.6||260.8||7.5||7.3||+60.1|
|Arts and Recreation Services||64.0||1.7||0.8||55.7||1.6||0.9||+8.3|
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 Woollahra Municipal Council area in 2021/22 shows the three largest industries were:
- Rental, Hiring and Real Estate Services (635 million or 17.0%)
- Professional, Scientific and Technical Services (422 million or 11.3%)
- Construction (399 million or 10.6%)
In combination these three industries accounted for 1,456 million in total or 38.9% of the total value added by industry in the Woollahra Municipal Council area.
In comparison, the same 3 industries in New South Wales accounted for 4.5% in Rental, Hiring and Real Estate Services; 11.1% in Professional, Scientific and Technical Services and 8.6% in Construction.
The major differences between the value added by industries of Woollahra Municipal Council area and New South Wales were:
- A larger percentage of value added by Rental, Hiring and Real Estate Services (17.0% compared to 4.5%)
- A smaller percentage of value added by Manufacturing (1.5% compared to 6.5%)
- A smaller percentage of value added by Transport, Postal and Warehousing (1.0% compared to 5.7%)
- A smaller percentage of value added by Wholesale Trade (2.0% compared to 5.5%)
The total value added by industry in Woollahra Municipal Council area $increased by 270 million between 2016/17 and 2021/22.
The largest changes in the value added by industries between 2016/17 and 2021/22 in Woollahra Municipal Council area were for:
- Financial and Insurance Services (+$67 million)
- Health Care and Social Assistance (+$60 million)
- Retail Trade (+$46 million)
- Administrative and Support Services (+$24 million)