GRP is the net measure of wealth generated by the region. GRP can be measured by using the incomes approach, where all incomes earned by individuals (wages and salaries), firms (gross operating surplus) and governments (taxes on products or services) are added. Alternatively an expenditure approach can be taken where all forms of final expenditure, including consumption by households, consumption by governments, additions or increases to assets (minus disposals) and exports (minus imports), are added. The expenditure approach does not include intermediate expenditure, as this would lead to double counting. eg. the wheat and flour in a loaf of bread. These methodological approaches are the same as those used to calculate Gross Domestic Product (GDP) at a national level.
Source: Latest REMPLAN data incorporating Australian Bureau of Statistics’ (ABS) June 2017 Gross State Product, 2014 / 2015 National Input Output Tables and 2016 Census Place of Work Employment Data.
All figures, data and commentary presented in this software are based on data sourced from the Australia Bureau of Statistics (ABS), most of which relates to the 2016, 2011, 2006 and 2001 Censuses, and other government agencies.
Using ABS datasets and an input / output methodology industrial economic data estimates for defined geographic regions are generated.
This software is provided in good faith with every effort made to provide accurate data and apply comprehensive knowledge. However, REMPLAN does not guarantee the accuracy of data nor the conclusions drawn from this information. A decision to pursue any action in any way related to the figures, data and commentary presented in this software is wholly the responsibility of the party concerned. REMPLAN advises any party to conduct detailed feasibility studies and seek professional advice before proceeding with any such action and accept no responsibility for the consequences of pursuing any such action.
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