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United Nations Statistics Division

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									Australian National Accounts

         State Accounts
States of Australia
       State Level Data Produced
Limited set of state data published in the Quarterly
 National Accounts
 State Final Demand
   –Household and Government Consumption
   –Private and Government Capital Formation
 International Trade in Merchandise
 Compensation of Employees
         State Level Data Produced
Full set of State Accounts produced annually
 All three measures: Income, Expenditure &
  Production
Plus:
 Income and Outlay Accounts
 Capital Accounts
 Agricultural Income
                 General Approach
National:
  At the national level supply-use benchmarks are in place for t-1
  These benchmarks are moved forward using movements from sub-
  annual indicator series
State:
  Headline measure: GSP(A) = average of GSP(E/I) and GSP(P)
  National Benchmarks – all state aggregates are set to equal national
  benchmarks
     Note GSP = Gross State Product
                         GSP(E)

• Calculated for each state by adding:
  –   Final expenditures (government and household)
  –   Private and public gross fixed capital formation
  –   Exports less imports of goods and services
  –   A balancing item
• Balancing item includes changes in inventories and
  net interstate trade.
                          GSP(I)
• Calculated for each state by adding:
  –   Compensation of employees
  –   Gross operating surplus
  –   Gross mixed income
  –   Taxes less subsidies on production and imports
• Deflated to chain volume estimates using the
  implicit price deflator from GDP(E)
            GSP(P) Methodology
1. Australia GVA by industry in current prices
2. Allocate to state using factor income shares in
   reference year
3. State GVA by industry in current prices
4. Apply quantity revaluation or price deflation to
   create the output indicator
5. Use output indicator with price information to
   create chain volume measure
           GSP(P) methodology
6. State GVA by industry chain volume measures
7. Ownership of dwellings and Taxes less subsidies
   on products
8. GSP(P)
                GSP(P) methodology
• Almost all industries use an output indicator approach
   – i.e. extrapolate reference year estimates of current price GVA
     using movements in volume indicator of output
   – Agriculture uses a double deflation methodology
• Most volume indicators derived by price deflation
   – i.e. dividing a price index into a current price value of sales or
     turnover
   – Quantity revaluation used when there are individual commodities
     that are reasonably homogeneous and not subject to quality
     change or where price change difficult to measure
             GSP(P) methodology
• Once each state’s current price and volume GVA estimates
  have been derived for each industry and Ownership of
  dwellings they are then benchmarked to the Australian total
  for each industry
• This ensures that the sum of the states for each industry
  equals the Australian total
• Each state’s benchmarked industry GVA estimates (current
  price and chain volume) are then summed to produce GVA
  at basic prices for each state
• To derive GSP(P) Taxes less subsidies on products needs to
  be added to each state’s GVA at basic prices
          Key Data Sources – GSP(P)
• Quarterly Business Indicator Survey
   – All private non-financial corporations (excl agriculture) by state
   – Data Items: Sales, Wages, Profits, Inventories
• Government Finance Statistics
   – All general government and public corporations by state/national
• Administrative data from other government departments
   – Mining, Agriculture, Finance & Insurance, Health, Education
• Price Indexes
   – Consumer Price Index (by State)
   – Producer Price Indexes (national except for construction)
   – Labour Price Index (by state)
Industry            Methodology                              Price Indexes

A - Agriculture,    Combination price deflation and          Producer Price Indexes
Forestry and        quantity revaluation.
Fishing             Double deflation (for Agriculture) and
                    quantity revaluation (for Forestry and
                    Fishing).
                    State production value data and
                    quantity data.
B - Mining          Combination price deflation and          Producer Price Indexes
                    quantity revaluation.
                    State production value data and
                    quantity data
C - Manufacturing   Price deflation method.               Producer Price Indexes
                    Current price turnover & GVA by state
                    by sub-division
Industry             Methodology                             Price Indexes
D - Electricity, Gas, Combination price deflation and         Producer Price Indexes
Water and Waste       quantity revaluation.
Services              Electricity Gas and the Water groups
                      are compiled by quantity revaluation at
                      the subdivision level
                      Waste services compiled by price
                      deflation
E - Construction     Price deflation method.                 Construction price
                     Current price turnover by state by sub- indexes by state
                     division

F - Wholesale        Price deflation method.                 Producer Price Indexes
Trade                Current price turnover by state by sub-
                     division
Industry             Methodology                              Price Indexes


G - Retail Trade     Price deflation method.                  Consumer Price index
                     Retail turnover data for all of Retail



H-                   Price deflation method.                  Consumer Price index
Accommodation        Turnover data by subdivision
and Food Services


I - Transport, Postal Combination price deflation and         Producer Price index
and Warehousing       quantity revaluation.
                      Turnover data for transport and
                      warehousing, quantity data for postal
Industry             Methodology                            Price Indexes

J - Information   Price deflation method                    Consumer Prices Index
Media and         Turnover data by subdivision
Telecommunication


K - Financial and    Quantity revaluation method.           Domestic Final
Insurance Services   National data are collected from the   Demand IPD
                     Australian Prudential Regulatory
                     Authority (APRA)
                     State splits using hours worked by
                     state, by industry group from the
                     Labour Force survey

L - Rental, Hiring   Price deflation method.                 Producer Price Index
and Real Estate      Current price turnover by state by sub-
Services             division
Industry             Methodology                            Price Indexes
M - Professional,    Price deflation method.                 Producer Price Indexes
Scientific and       Current price turnover by state by sub-
Technical Services   division

N - Administrative   Price deflation method.                 Producer Price Indexes
and Support          Current price turnover by state by sub-
Services             division

O - Public           Combination price deflation and        -
Administration and   quantity revaluation methods.
Safety               Indicators are average hours worked
                     by Government Administration
                     employees
Industry            Methodology                            Price Indexes
P - Education and   Quantity revaluation method.           -
Training            Student numbers for Preschool,
                    Primary and Secondary, University,
                    Vocational Education & Training
                    Public sector expenditure on education
                    by state is sourced from the
                    Government Finance data
Q - Health Care     Combination price deflation and        Consumer Price Index
and Social          quantity revaluation methods.
Assistance          Private health turnover
                    Public health number of treatments
R - Arts and        Price deflation method.                 Consumer Price Index
Recreation Services Current price turnover by state by sub-
                    division
Industry             Methodology                                Price Indexes
S - Other Services   Price deflation method.                 Consumer Price
                     Current price turnover by state by sub- Indexes
                     division



Ownership of         Quantity revaluation method                Consumer Price Index
dwellings            National current price split into states
                     using the state shares of TFI
                     Current price state estimates are
                     quantity re-valued using the CVM for
                     HFCE - Gross Dwelling Rents (actual
                     plus imputed rent from owners of
                     dwellings)
Taxes less subsidies Quantity revaluation method                -
on products          Government Finance data are used to
                     determine state shares
              Key Issues – GSP(P)
• A number of price indexes are representative of national,
  rather than state, price movements
• Single deflation methodology used – output used as an
  indicator for value added, data on intermediate
  consumption not available on timely basis
• We do not produce state supply-use or input-output tables -
  product mixes within industries may vary on a state basis,
  this is not picked up
• Allocation of activity spread across regions i.e. Mining
  operation vs Mining company headquarters
             Further information
• National Accounts: Concepts Sources and Methods
  – Catalogue number 5216.0
• Information Paper: Gross State Product using the
  Production Approach GSP(P)
  – Cat. No. 5220.0.55.002
• Australian National Accounts: State Accounts
  – Cat. No. 5220.0
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