Australia Yearbook - 2001

Chapter 29—National accounts 977
29.7 show expenditure on GDP in real or chain
volume terms.
In real terms (i.e. after the effects of inflation are
removed from the dollar value of Australia’s
production), there was a fall in production during
the 1990–91 financial year. However, the eight
years since the recession in 1990–91 have all
shown growth in GDP. Although growth in
1991–92 was relatively low (0.4%), by 1994–95 it
had accelerated to 4.5%, a growth rate which has
generally been maintained since, except for a
slowing in 1996–97.
29.4 DOMESTIC PRODUCTION ACCOUNT, Current Prices—Five-Yearly
1965–66 1970–71 1975–76 1980–81
1985–86
$m $m $m $m $m
Final consumption expenditure
General government 3 139 5 586 15 474 27 889 50 992
Households 13 401 21 010 44 679 82 877 143 009
Total final consumption expenditure 16 540 26 596 60 153 110 766 194 001
Gross fixed capital formation
Private 4 284 7 353 12 450 27 996 44 699
Public 2 005 2 838 6 478 9 789 19 039
Total gross fixed capital formation 6 289 10 191 18 928 37 785 63 738
Changes in inventories 84 586 180 406 833
Gross national expenditure 22 913 37 373 79 261 148 957 258 572
Exports of goods and services 3 136 5 086 11 225 22 604 38 948
less Imports of goods and services 3 683 5 214 11 163 25 530 47 199
Statistical discrepancy (expenditure-based) 120 –142 –51 –465 –1 853
Gross domestic product 22 486 37 103 79 272 145 566 248 468
Compensation of employees 11 361 19 375 44 137 75 437 124 033
Gross operating surplus 5 149 9 285 17 438 36 389 69 060
Gross mixed income 3 919 5 421 9 867 18 745 27 551
Total factor income 20 429 34 081 71 442 130 571 220 644
Taxes less subsidies on production and imports 2 087 3 163 7 872 14 733 27 801
Statistical discrepancy (income-based) –30 –141 –42 262 23
Gross domestic product 22 486 37 103 79 272 145 566 248 468
Source: Australian System of National Accounts (5204.0).