The total value added by the Lake Macquarie economy is estimated at $8.275 billion. Lake Macquarie represents 20.12 % of the $41.124 billion value added in Hunter Region, 1.65 % of the $501.134 billion value added in New South Wales and 0.54 % of the $1.545 trillion value added in Australia.
Definition: Value-Added data represents the marginal economic value that is added by each industry sector in a defined region. Value-Added can be calculated by subtracting local expenditure and expenditure on regional imports from the output generated by an industry sector, or alternatively, by adding the Wages & Salaries paid to local employees, the gross operating surplus and taxes on products and production. Value-Added by industry sector is the major element in the calculation of Gross Regional Product.
Source: Latest REMPLAN data incorporating Australian Bureau of Statistics’ (ABS) June 2016 Gross State Product, 2013 / 2014 National Input Output Tables and 2011 Census Place of Work Employment Data.
Maps: State, Suburb, Local Government Area, Statistical Local Area and Statistical Area geographic boundaries are sourced from the Australian Bureau of Statistics. Destination Zone boundaries are sourced from Vic Roads, Transport NSW, Department of Transport and Main Roads (QLD), Department for Planning and Infrastructure (WA), Department of Lands and Planning (NT), Department for Transport, Energy and Infrastructure (SA), Department of Infrastructure, Energy and Resources (TAS) and Transport and Planning (ACT).
The presentation of Place of Work data in this profile corresponds to Destination Zone boundaries so may not align with official ABS geographic boundaries.