Australian National Accounts: National Income, Expenditure and Product

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Quarterly estimates of key economic flows in Australia, including gross domestic product (GDP), consumption, investment, income and saving

Reference period

December 2020

Released

3/03/2021

View all releases

Key statistics

The Australian economy rose 3.1% in seasonally adjusted chain volume measures
Through the year GDP fell 1.1%
The terms of trade rose 4.7%
Household saving ratio decreased to 12.0% from 18.7%

Articles

This quarter's National Accounts includes the following articles:

Economic overview

Unless otherwise stated all figures are in seasonally adjusted, chain volume measures.

The reference year for chain volume measures is 2018-19.

For more information about the changes in this issue, please see revisions and changes on this page.

December key figures, percentage changes (a)

		Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20	Sep 20 to Dec 20	Dec 19 to Dec 20
		Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20	Sep 20 to Dec 20	Dec 19 to Dec 20	Chain volume GDP and related measures (b)
	GDP	0.4	-0.3	-7.0	3.4	3.1	-1.1
	GDP per capita (c)	0.1	-0.6	-7.2	3.3	3.0	-1.8
	Gross value added market sector (d)	0.2	-0.6	-7.9	3.2	3.4	-2.3
	Real net national disposable income	-0.5	-0.2	-7.3	5.2	4.9	2.1
Productivity
	GDP per hour worked	0.2	0.6	3.4	-1.4	-	2.5
	Real unit labour costs	1.2	-0.6	-8.9	-0.9	6.9	-4.1
Prices
	GDP chain price index (original)	-1.2	1.0	-0.3	-0.1	1.7	2.4
	Terms of trade	-4.5	0.4	0.8	1.3	4.7	7.4
Current price measures
	GDP	-0.2	0.3	-7.5	4.0	4.2	0.6
	Household saving ratio	5.3	7.9	22.0	18.7	12.0	na

na not available
a. Change on preceding quarter, except for the last column which shows the change between the current quarter and the corresponding quarter of the previous year. Excludes Household saving ratio.
b. Reference year for chain volume measures and real income measures is 2018-19.
c. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.

Australian economy rose 3.1% in December quarter

Gross Domestic Product (GDP) rose 3.1% this quarter as COVID-19 related restrictions continued to ease. This follows a 3.4% rise in the September quarter 2020. The continuation in the recovery is reflected in through the year results, which improved from -3.7% to -1.1% in the December quarter.

Gross domestic product, chain volume measures, seasonally adjusted
	Quarterly growth (%)	Through the year (%)
Dec-12	0.5	2.8
Mar-13	0.3	2.2
Jun-13	0.4	1.9
Sep-13	0.8	2.1
Dec-13	0.8	2.4
Mar-14	0.7	2.8
Jun-14	0.5	2.9
Sep-14	0.5	2.6
Dec-14	0.4	2.1
Mar-15	0.8	2.3
Jun-15	0.2	1.9
Sep-15	1.1	2.5
Dec-15	0.6	2.7
Mar-16	0.9	2.7
Jun-16	0.7	3.2
Sep-16	0.1	2.3
Dec-16	1.0	2.7
Mar-17	0.3	2.1
Jun-17	0.7	2.1
Sep-17	1.0	3.0
Dec-17	0.5	2.5
Mar-18	0.9	3.1
Jun-18	0.9	3.3
Sep-18	0.4	2.7
Dec-18	0.2	2.4
Mar-19	0.5	1.9
Jun-19	0.7	1.7
Sep-19	0.6	1.9
Dec-19	0.4	2.2
Mar-20	-0.3	1.4
Jun-20	-7.0	-6.3
Sep-20	3.4	-3.7
Dec-20	3.1	-1.1

Gross domestic product, chain volume measures, seasonally adjusted

["","Quarterly growth","Through the year"]

[["Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20"],[[0.5],[0.29999999999999999],[0.40000000000000002],[0.80000000000000004],[0.80000000000000004],[0.69999999999999996],[0.5],[0.5],[0.40000000000000002],[0.80000000000000004],[0.20000000000000001],[1.1000000000000001],[0.59999999999999998],[0.90000000000000002],[0.69999999999999996],[0.10000000000000001],[1],[0.29999999999999999],[0.69999999999999996],[1],[0.5],[0.90000000000000002],[0.90000000000000002],[0.40000000000000002],[0.20000000000000001],[0.5],[0.69999999999999996],[0.59999999999999998],[0.40000000000000002],[-0.29999999999999999],[-7],[3.3999999999999999],[3.1000000000000001]],[[2.7999999999999998],[2.2000000000000002],[1.8999999999999999],[2.1000000000000001],[2.3999999999999999],[2.7999999999999998],[2.8999999999999999],[2.6000000000000001],[2.1000000000000001],[2.2999999999999998],[1.8999999999999999],[2.5],[2.7000000000000002],[2.7000000000000002],[3.2000000000000002],[2.2999999999999998],[2.7000000000000002],[2.1000000000000001],[2.1000000000000001],[3],[2.5],[3.1000000000000001],[3.2999999999999998],[2.7000000000000002],[2.3999999999999999],[1.8999999999999999],[1.7],[1.8999999999999999],[2.2000000000000002],[1.3999999999999999],[-6.2999999999999998],[-3.7000000000000002],[-1.1000000000000001]]]

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Strong growth in the terms of trade

The terms of trade rose 4.7% this quarter off the back of higher export prices, particularly for iron ore. The strength in the terms of trade contributed to a 4.2% increase in nominal GDP, the strongest rise since September quarter 1983.

Quarterly growth in nominal GDP and terms of trade, seasonally adjusted
	Nominal GDP (%)	Terms of trade (%)
Dec-12	0.3	-2.4
Mar-13	1.1	2.3
Jun-13	1.1	-0.4
Sep-13	1.0	-2.5
Dec-13	1.5	0.2
Mar-14	1.1	-0.5
Jun-14	-0.2	-4.8
Sep-14	-0.1	-3.7
Dec-14	0.6	-2.0
Mar-15	0.9	-2.0
Jun-15	-0.3	-4.1
Sep-15	1.1	-2.6
Dec-15	0.1	-4.0
Mar-16	0.8	-1.2
Jun-16	1.2	2.5
Sep-16	1.2	3.9
Dec-16	3.3	11.2
Mar-17	2.0	5.5
Jun-17	-0.3	-5.8
Sep-17	1.2	-0.2
Dec-17	0.8	0
Mar-18	2.2	3.4
Jun-18	1.1	-1.3
Sep-18	1.2	1.0
Dec-18	1.2	2.5
Mar-19	1.7	3.3
Jun-19	1.5	1.4
Sep-19	1.3	0.9
Dec-19	-0.2	-4.5
Mar-20	0.3	0.4
Jun-20	-7.5	0.8
Sep-20	4.0	1.3
Dec-20	4.2	4.7

Quarterly growth in nominal GDP and terms of trade, seasonally adjusted

["","Nominal GDP","Terms of trade"]

[["Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20"],[[0.29999999999999999],[1.1000000000000001],[1.1000000000000001],[1],[1.5],[1.1000000000000001],[-0.20000000000000001],[-0.10000000000000001],[0.59999999999999998],[0.90000000000000002],[-0.29999999999999999],[1.1000000000000001],[0.10000000000000001],[0.80000000000000004],[1.2],[1.2],[3.2999999999999998],[2],[-0.29999999999999999],[1.2],[0.80000000000000004],[2.2000000000000002],[1.1000000000000001],[1.2],[1.2],[1.7],[1.5],[1.3],[-0.20000000000000001],[0.29999999999999999],[-7.5],[4],[4.2000000000000002]],[[-2.3999999999999999],[2.2999999999999998],[-0.40000000000000002],[-2.5],[0.20000000000000001],[-0.5],[-4.7999999999999998],[-3.7000000000000002],[-2],[-2],[-4.0999999999999996],[-2.6000000000000001],[-4],[-1.2],[2.5],[3.8999999999999999],[11.199999999999999],[5.5],[-5.7999999999999998],[-0.20000000000000001],[0],[3.3999999999999999],[-1.3],[1],[2.5],[3.2999999999999998],[1.3999999999999999],[0.90000000000000002],[-4.5],[0.40000000000000002],[0.80000000000000004],[1.3],[4.7000000000000002]]]

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Private demand continues to recover

Domestic final demand contributed 3.2 percentage points to GDP growth. Household final consumption expenditure contributed 2.3 percentage points as constraints on households and businesses continued to lift. Private investment contributed a further 0.7 percentage points to growth.

Contributions to quarterly growth in GDP, chain volume measures, seasonally adjusted
	Domestic final demand (ppt)	Public demand (ppt)	Private demand (ppt)
Dec-12	0.1	0.9	-0.8
Mar-13	0	-0.7	0.7
Jun-13	-0.3	-1.3	1.0
Sep-13	1.0	1.1	-0.2
Dec-13	0.3	0.4	-0.2
Mar-14	0.1	-0.5	0.5
Jun-14	-0.1	-0.5	0.4
Sep-14	0.2	0.5	-0.3
Dec-14	0.2	-0.1	0.3
Mar-15	0.5	0.3	0.2
Jun-15	0.2	0.4	-0.2
Sep-15	0.2	-0.1	0.3
Dec-15	0.2	0.3	-0.1
Mar-16	0.9	0.6	0.3
Jun-16	0.3	0.6	-0.2
Sep-16	0.1	0.1	0
Dec-16	1.1	0.5	0.5
Mar-17	0.7	0.3	0.4
Jun-17	0.8	0.7	0.2
Sep-17	1.1	-0.4	1.5
Dec-17	0.8	0.6	0.2
Mar-18	0.9	0.2	0.7
Jun-18	0.3	0.1	0.3
Sep-18	0.4	0.4	0
Dec-18	0	0.2	-0.2
Mar-19	0.3	0.2	0.1
Jun-19	0.5	0.6	-0.1
Sep-19	0.4	0.2	0.2
Dec-19	0.2	0.2	0
Mar-20	-0.4	0.4	-0.8
Jun-20	-7.1	0.6	-7.7
Sep-20	4.5	0.3	4.1
Dec-20	3.2	0.3	2.9

Contributions to quarterly growth in GDP, chain volume measures, seasonally adjusted

["","Domestic final demand","Public demand","Private demand"]

[["Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20"],[[0.10000000000000001],[0],[-0.29999999999999999],[1],[0.29999999999999999],[0.10000000000000001],[-0.10000000000000001],[0.20000000000000001],[0.20000000000000001],[0.5],[0.20000000000000001],[0.20000000000000001],[0.20000000000000001],[0.90000000000000002],[0.29999999999999999],[0.10000000000000001],[1.1000000000000001],[0.69999999999999996],[0.80000000000000004],[1.1000000000000001],[0.80000000000000004],[0.90000000000000002],[0.29999999999999999],[0.40000000000000002],[0],[0.29999999999999999],[0.5],[0.40000000000000002],[0.20000000000000001],[-0.40000000000000002],[-7.0999999999999996],[4.5],[3.2000000000000002]],[[0.90000000000000002],[-0.69999999999999996],[-1.3],[1.1000000000000001],[0.40000000000000002],[-0.5],[-0.5],[0.5],[-0.10000000000000001],[0.29999999999999999],[0.40000000000000002],[-0.10000000000000001],[0.29999999999999999],[0.59999999999999998],[0.59999999999999998],[0.10000000000000001],[0.5],[0.29999999999999999],[0.69999999999999996],[-0.40000000000000002],[0.59999999999999998],[0.20000000000000001],[0.10000000000000001],[0.40000000000000002],[0.20000000000000001],[0.20000000000000001],[0.59999999999999998],[0.20000000000000001],[0.20000000000000001],[0.40000000000000002],[0.59999999999999998],[0.29999999999999999],[0.29999999999999999]],[[-0.80000000000000004],[0.69999999999999996],[1],[-0.20000000000000001],[-0.20000000000000001],[0.5],[0.40000000000000002],[-0.29999999999999999],[0.29999999999999999],[0.20000000000000001],[-0.20000000000000001],[0.29999999999999999],[-0.10000000000000001],[0.29999999999999999],[-0.20000000000000001],[0],[0.5],[0.40000000000000002],[0.20000000000000001],[1.5],[0.20000000000000001],[0.69999999999999996],[0.29999999999999999],[0],[-0.20000000000000001],[0.10000000000000001],[-0.10000000000000001],[0.20000000000000001],[0],[-0.80000000000000004],[-7.7000000000000002],[4.0999999999999996],[2.8999999999999999]]]

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Household spending rises

Spending by households rose 4.3% this quarter, but remained 2.7% down through the year.

Spending on goods rose 2.8% for the quarter and is up 6.2% through the year. Purchase of vehicles rose a record 31.8%, reflecting elevated household disposable income and shifting spending patterns with continued limitations on some expenditure items such as international travel.

Spending on services rose 5.2%. This reflects a partial recovery with spending down 7.8% through the year. Recreation and culture, hotels, cafes and restaurants and health all continued to rebound as movement and trading restrictions eased.

Household final consumption expenditure, chain volume measures, seasonally adjusted
	Quarterly growth (%)	Through the year (%)
Dec-12	0.2	2.1
Mar-13	0.6	1.4
Jun-13	0.3	1.3
Sep-13	1.0	2.1
Dec-13	0.6	2.5
Mar-14	0.6	2.5
Jun-14	0.5	2.7
Sep-14	0.7	2.4
Dec-14	0.5	2.4
Mar-15	0.5	2.2
Jun-15	0.6	2.4
Sep-15	1.0	2.6
Dec-15	0.5	2.5
Mar-16	0.9	3.0
Jun-16	0.4	2.8
Sep-16	0.5	2.3
Dec-16	0.7	2.5
Mar-17	0.4	2.0
Jun-17	0.7	2.3
Sep-17	0.8	2.6
Dec-17	0.9	2.9
Mar-18	0.5	2.9
Jun-18	0.8	2.9
Sep-18	0.3	2.4
Dec-18	0.2	1.7
Mar-19	0.4	1.7
Jun-19	0.3	1.2
Sep-19	0	1.0
Dec-19	0.3	1.1
Mar-20	-1.4	-0.7
Jun-20	-12.3	-13.2
Sep-20	7.9	-6.4
Dec-20	4.3	-2.7

Household final consumption expenditure, chain volume measures, seasonally adjusted

["","Quarterly growth","Through the year"]

[["Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20"],[[0.20000000000000001],[0.59999999999999998],[0.29999999999999999],[1],[0.59999999999999998],[0.59999999999999998],[0.5],[0.69999999999999996],[0.5],[0.5],[0.59999999999999998],[1],[0.5],[0.90000000000000002],[0.40000000000000002],[0.5],[0.69999999999999996],[0.40000000000000002],[0.69999999999999996],[0.80000000000000004],[0.90000000000000002],[0.5],[0.80000000000000004],[0.29999999999999999],[0.20000000000000001],[0.40000000000000002],[0.29999999999999999],[0],[0.29999999999999999],[-1.3999999999999999],[-12.300000000000001],[7.9000000000000004],[4.2999999999999998]],[[2.1000000000000001],[1.3999999999999999],[1.3],[2.1000000000000001],[2.5],[2.5],[2.7000000000000002],[2.3999999999999999],[2.3999999999999999],[2.2000000000000002],[2.3999999999999999],[2.6000000000000001],[2.5],[3],[2.7999999999999998],[2.2999999999999998],[2.5],[2],[2.2999999999999998],[2.6000000000000001],[2.8999999999999999],[2.8999999999999999],[2.8999999999999999],[2.3999999999999999],[1.7],[1.7],[1.2],[1],[1.1000000000000001],[-0.69999999999999996],[-13.199999999999999],[-6.4000000000000004],[-2.7000000000000002]]]

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Goods and services consumption expenditure through the year, chain volume measures, seasonally adjusted
	Goods consumption (%)	Services consumption (%)
Dec-12	3.0	1.7
Mar-13	2.7	0.5
Jun-13	1.1	1.4
Sep-13	2.2	1.6
Dec-13	3.0	1.7
Mar-14	2.2	2.3
Jun-14	1.8	2.7
Sep-14	1.5	2.7
Dec-14	1.4	2.8
Mar-15	1.5	2.6
Jun-15	2.2	2.3
Sep-15	3.1	2.2
Dec-15	3.7	1.8
Mar-16	4.0	2.2
Jun-16	3.2	2.8
Sep-16	1.5	2.9
Dec-16	1.4	3.3
Mar-17	1.3	2.7
Jun-17	2.8	2.0
Sep-17	3.7	2.2
Dec-17	3.3	2.8
Mar-18	4.0	2.3
Jun-18	3.2	2.9
Sep-18	2.7	2.5
Dec-18	2.0	1.6
Mar-19	1.0	2.0
Jun-19	0.6	1.6
Sep-19	0.2	1.2
Dec-19	0.6	1.3
Mar-20	1.6	-2.0
Jun-20	-1.7	-19.8
Sep-20	3.5	-12.1
Dec-20	6.2	-7.8

Goods and services consumption expenditure through the year, chain volume measures, seasonally adjusted

["","Goods consumption","Services consumption"]

[["Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20"],[[3],[2.7000000000000002],[1.1000000000000001],[2.2000000000000002],[3],[2.2000000000000002],[1.8],[1.5],[1.3999999999999999],[1.5],[2.2000000000000002],[3.1000000000000001],[3.7000000000000002],[4],[3.2000000000000002],[1.5],[1.3999999999999999],[1.3],[2.7999999999999998],[3.7000000000000002],[3.2999999999999998],[4],[3.2000000000000002],[2.7000000000000002],[2],[1],[0.59999999999999998],[0.20000000000000001],[0.59999999999999998],[1.6000000000000001],[-1.7],[3.5],[6.2000000000000002]],[[1.7],[0.5],[1.3999999999999999],[1.6000000000000001],[1.7],[2.2999999999999998],[2.7000000000000002],[2.7000000000000002],[2.7999999999999998],[2.6000000000000001],[2.2999999999999998],[2.2000000000000002],[1.8],[2.2000000000000002],[2.7999999999999998],[2.8999999999999999],[3.2999999999999998],[2.7000000000000002],[2],[2.2000000000000002],[2.7999999999999998],[2.2999999999999998],[2.8999999999999999],[2.5],[1.6000000000000001],[2],[1.6000000000000001],[1.2],[1.3],[-2],[-19.800000000000001],[-12.1],[-7.7999999999999998]]]

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Victoria records the strongest increase in household spending

Household spending by Victorians increased 10.4% as strict lockdown restrictions were lifted. The level of spending remains weak at 7.2% below its pre-COVID level.

Household spending for the rest of Australia, excluding Victoria, rose 2.3% in the quarter.

Household final consumption expenditure by state, chain volume measures, seasonally adjusted
	Quarterly growth (%)	Through the year (%)
NSW	3.1	-3.4
Vic.	10.4	-7.2
Qld	2.3	2.6
SA	0.9	-1.0
WA	0.3	-1.6
Tas.	2.4	-2.6
NT	5.2	5.3
ACT	4.2	1.1

Household final consumption expenditure by state, chain volume measures, seasonally adjusted

["","Quarterly growth","Through the year"]

[["NSW","Vic.","Qld","SA","WA","Tas.","NT","ACT"],[[3.1000000000000001],[10.4],[2.2999999999999998],[0.90000000000000002],[0.29999999999999999],[2.3999999999999999],[5.2000000000000002],[4.2000000000000002]],[[-3.3999999999999999],[-7.2000000000000002],[2.6000000000000001],[-1],[-1.6000000000000001],[-2.6000000000000001],[5.2999999999999998],[1.1000000000000001]]]

[]

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Household saving ratio remains at a high level

The household saving to income ratio declined to 12.0% from 18.7% last quarter, remaining at elevated levels. Falls in gross disposable income and increases in household consumption both contributed to the decline in saving.

Gross disposable income fell 3.1% in the quarter, but remained strong through the year (up 4.8%). The quarterly fall reflected a decline in government support payments.

Household saving ratio, seasonally adjusted
	Household saving ratio (%)
Dec-12	7.5
Mar-13	8.1
Jun-13	7.9
Sep-13	7.3
Dec-13	7.9
Mar-14	7.9
Jun-14	8.4
Sep-14	8.2
Dec-14	8.3
Mar-15	7.6
Jun-15	7.9
Sep-15	7.1
Dec-15	5.7
Mar-16	5.6
Jun-16	5.9
Sep-16	5.7
Dec-16	5.1
Mar-17	5.4
Jun-17	4.6
Sep-17	4.4
Dec-17	4.7
Mar-18	4.4
Jun-18	3.9
Sep-18	3.6
Dec-18	4.0
Mar-19	4.4
Jun-19	3.6
Sep-19	6.1
Dec-19	5.3
Mar-20	7.9
Jun-20	22.0
Sep-20	18.7
Dec-20	12.0

Household saving ratio, seasonally adjusted

["","Household saving ratio"]

[["Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20"],[[7.5],[8.0999999999999996],[7.9000000000000004],[7.2999999999999998],[7.9000000000000004],[7.9000000000000004],[8.4000000000000004],[8.1999999999999993],[8.3000000000000007],[7.5999999999999996],[7.9000000000000004],[7.0999999999999996],[5.7000000000000002],[5.5999999999999996],[5.9000000000000004],[5.7000000000000002],[5.0999999999999996],[5.4000000000000004],[4.5999999999999996],[4.4000000000000004],[4.7000000000000002],[4.4000000000000004],[3.8999999999999999],[3.6000000000000001],[4],[4.4000000000000004],[3.6000000000000001],[6.0999999999999996],[5.2999999999999998],[7.9000000000000004],[22],[18.699999999999999],[12]]]

[]

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Contributions to quarterly growth in household disposable income, current prices, seasonally adjusted
	Gross disposable income (ppt)	Labour income (COE) (ppt)	Non-labour income (ppt)	Income payable (ppt)
Dec-12	1.9	1.0	0.5	0.4
Mar-13	1.6	0.3	1.2	0.1
Jun-13	0.5	0.7	0.1	-0.3
Sep-13	1.2	0.5	0.7	0
Dec-13	1.9	1.0	1.2	-0.3
Mar-14	1.1	0.5	0.6	0
Jun-14	1.5	0.6	1.1	-0.2
Sep-14	0.8	0.5	0.9	-0.6
Dec-14	1.1	0.3	1.0	-0.3
Mar-15	0.3	0.3	0.3	-0.3
Jun-15	1.4	0.7	0.8	-0.1
Sep-15	0.5	0.7	0	-0.1
Dec-15	-0.4	0.6	-0.6	-0.4
Mar-16	0.8	0.7	0.1	-0.1
Jun-16	1.0	0.2	1.1	-0.3
Sep-16	0.6	0.7	-0.2	0.1
Dec-16	0.4	-0.2	0.7	-0.2
Mar-17	1.1	0.7	1.2	-0.8
Jun-17	0.3	0.9	-0.7	0
Sep-17	0.8	0.9	0.5	-0.6
Dec-17	1.7	1.1	0.6	0
Mar-18	0.7	0.8	0.4	-0.5
Jun-18	0.5	0.7	0.5	-0.7
Sep-18	0.4	1.0	0	-0.6
Dec-18	1.1	0.8	0.7	-0.4
Mar-19	1.1	1.0	0	0
Jun-19	0.1	1.0	-0.2	-0.6
Sep-19	2.9	0.8	0.4	1.7
Dec-19	-0.1	0.7	0.5	-1.2
Mar-20	1.8	0.6	1.3	-0.1
Jun-20	2.8	-1.5	3.1	1.2
Sep-20	3.3	1.7	2.3	-0.7
Dec-20	-3.1	1.0	-4.2	0.2

Contributions to quarterly growth in household disposable income, current prices, seasonally adjusted

["","Gross disposable income","Labour income (COE)","Non-labour income","Income payable"]

[["Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20"],[[1.8999999999999999],[1.6000000000000001],[0.5],[1.2],[1.8999999999999999],[1.1000000000000001],[1.5],[0.80000000000000004],[1.1000000000000001],[0.29999999999999999],[1.3999999999999999],[0.5],[-0.40000000000000002],[0.80000000000000004],[1],[0.59999999999999998],[0.40000000000000002],[1.1000000000000001],[0.29999999999999999],[0.80000000000000004],[1.7],[0.69999999999999996],[0.5],[0.40000000000000002],[1.1000000000000001],[1.1000000000000001],[0.10000000000000001],[2.8999999999999999],[-0.10000000000000001],[1.8],[2.7999999999999998],[3.2999999999999998],[-3.1000000000000001]],[[1],[0.29999999999999999],[0.69999999999999996],[0.5],[1],[0.5],[0.59999999999999998],[0.5],[0.29999999999999999],[0.29999999999999999],[0.69999999999999996],[0.69999999999999996],[0.59999999999999998],[0.69999999999999996],[0.20000000000000001],[0.69999999999999996],[-0.20000000000000001],[0.69999999999999996],[0.90000000000000002],[0.90000000000000002],[1.1000000000000001],[0.80000000000000004],[0.69999999999999996],[1],[0.80000000000000004],[1],[1],[0.80000000000000004],[0.69999999999999996],[0.59999999999999998],[-1.5],[1.7],[1]],[[0.5],[1.2],[0.10000000000000001],[0.69999999999999996],[1.2],[0.59999999999999998],[1.1000000000000001],[0.90000000000000002],[1],[0.29999999999999999],[0.80000000000000004],[0],[-0.59999999999999998],[0.10000000000000001],[1.1000000000000001],[-0.20000000000000001],[0.69999999999999996],[1.2],[-0.69999999999999996],[0.5],[0.59999999999999998],[0.40000000000000002],[0.5],[0],[0.69999999999999996],[0],[-0.20000000000000001],[0.40000000000000002],[0.5],[1.3],[3.1000000000000001],[2.2999999999999998],[-4.2000000000000002]],[[0.40000000000000002],[0.10000000000000001],[-0.29999999999999999],[0],[-0.29999999999999999],[0],[-0.20000000000000001],[-0.59999999999999998],[-0.29999999999999999],[-0.29999999999999999],[-0.10000000000000001],[-0.10000000000000001],[-0.40000000000000002],[-0.10000000000000001],[-0.29999999999999999],[0.10000000000000001],[-0.20000000000000001],[-0.80000000000000004],[0],[-0.59999999999999998],[0],[-0.5],[-0.69999999999999996],[-0.59999999999999998],[-0.40000000000000002],[0],[-0.59999999999999998],[1.7],[-1.2],[-0.10000000000000001],[1.2],[-0.69999999999999996],[0.20000000000000001]]]

[]

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Private investment records strongest rise since September quarter 2017

Private investment rose 3.9% for the quarter. Both housing and business investment increased, supported by government initiatives and improvements in conditions.

Ownership transfer costs (15.2%) and dwelling investment (4.1%) both contributed to the increase in housing activity. The rise in business investment was driven by a 8.9% increase in machinery and equipment.

Contributions to quarterly growth in private investment, chain volume measures, seasonally adjusted
	Total private investment (ppt)	Housing investment (ppt)	Business investment (ppt)
Dec-19	-1.0	-0.3	-0.7
Mar-20	-0.3	0	-0.3
Jun-20	-5.9	-2.9	-3.0
Sep-20	0.7	2.0	-1.2
Dec-20	3.9	2.5	1.4

Contributions to quarterly growth in private investment, chain volume measures, seasonally adjusted

["","Total private investment","Housing investment","Business investment"]

[["Dec-19","Mar-20","Jun-20","Sep-20","Dec-20"],[[-1],[-0.29999999999999999],[-5.9000000000000004],[0.69999999999999996],[3.8999999999999999]],[[-0.29999999999999999],[0],[-2.8999999999999999],[2],[2.5]],[[-0.69999999999999996],[-0.29999999999999999],[-3],[-1.2],[1.3999999999999999]]]

[]

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Bumper harvest leads to a record rise in Agriculture, Forestry and Fishing gross value added (GVA)

GVA rose 2.7% this quarter, with rises in 17 out of the 19 industries. Favourable weather conditions contributed to a large grain harvest, which is reflected in a 26.8% increase in Agriculture, Forestry and Fishing GVA. The impacts of this flowed through the supply chain, including in Wholesale Trade (up 3.6%) and Transport, Postal and Warehousing (up 6.1%). The increase in agricultural production was also reflected in a 23.5% increase in rural exports.

Accommodation and Food Services, Administrative and Support Services and Arts and Recreation Services, industries that were heavily impacted by the pandemic, continued to rebound this quarter as restrictions eased. Despite this, the activity in all three industries remains well below pre-pandemic levels.

Gross value added, chain volume measures, seasonally adjusted
	Quarterly growth (%)	Through the year (%)
Agriculture, Forestry and Fishing	26.8	20.0
Mining	-1.0	-3.6
Manufacturing	1.2	-2.0
Electricity, Gas, Water and Waste Services	-0.9	-2.8
Construction	0.3	-5.2
Wholesale Trade	3.6	4.3
Retail Trade	3.7	6.3
Accommodation and Food Services	7.9	-13.2
Transport, Postal and Warehousing	6.1	-16.8
Information Media and Telecommunications	5.2	2.1
Financial and Insurance Services	0.4	2.9
Rental, Hiring and Real Estate Services	7.4	-3.8
Professional, Scientific and Technical Services	4.7	1.9
Administrative and Support Services	9.4	-14.0
Public Administration and Safety	0.8	5.5
Education and Training	0.2	0.8
Health Care and Social Assistance	2.2	2.4
Arts and Recreation Services	8.4	-8.2
Other Services	9.9	-7.2

Gross value added, chain volume measures, seasonally adjusted

["","Quarterly growth","Through the year"]

[["Agriculture, Forestry and Fishing","Mining","Manufacturing","Electricity, Gas, Water and Waste Services","Construction","Wholesale Trade","Retail Trade","Accommodation and Food Services","Transport, Postal and Warehousing","Information Media and Telecommunications","Financial and Insurance Services","Rental, Hiring and Real Estate Services","Professional, Scientific and Technical Services","Administrative and Support Services","Public Administration and Safety","Education and Training","Health Care and Social Assistance","Arts and Recreation Services","Other Services"],[[26.800000000000001],[-1],[1.2],[-0.90000000000000002],[0.29999999999999999],[3.6000000000000001],[3.7000000000000002],[7.9000000000000004],[6.0999999999999996],[5.2000000000000002],[0.40000000000000002],[7.4000000000000004],[4.7000000000000002],[9.4000000000000004],[0.80000000000000004],[0.20000000000000001],[2.2000000000000002],[8.4000000000000004],[9.9000000000000004]],[[20],[-3.6000000000000001],[-2],[-2.7999999999999998],[-5.2000000000000002],[4.2999999999999998],[6.2999999999999998],[-13.199999999999999],[-16.800000000000001],[2.1000000000000001],[2.8999999999999999],[-3.7999999999999998],[1.8999999999999999],[-14],[5.5],[0.80000000000000004],[2.3999999999999999],[-8.1999999999999993],[-7.2000000000000002]]]

[]

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Compensation of employees (COE) rises with underlying activity

COE rose 1.5% this quarter as employment and hours worked increased. Private sector COE continues to recover after being strongly impacted during the onset of the pandemic, rising 1.4% for the quarter. Public sector COE grew 1.8% for the quarter to be 6.7% higher through the year.

Contributions to quarterly growth in COE, current prices, seasonally adjusted (a)
	Total COE (ppt)	Private COE (ppt)	Public COE (ppt)
Dec-19	0.9	0.8	0.2
Mar-20	0.5	0.2	0.3
Jun-20	-2.3	-2.7	0.4
Sep-20	2.4	2.0	0.4
Dec-20	1.5	1.0	0.4

Contributions to quarterly growth in COE, current prices, seasonally adjusted (a)

["","Total COE","Private COE","Public COE"]

[["Dec-19","Mar-20","Jun-20","Sep-20","Dec-20"],[[0.90000000000000002],[0.5],[-2.2999999999999998],[2.3999999999999999],[1.5]],[[0.80000000000000004],[0.20000000000000001],[-2.7000000000000002],[2],[1]],[[0.20000000000000001],[0.29999999999999999],[0.40000000000000002],[0.40000000000000002],[0.40000000000000002]]]

[]

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a. Contributions may not be additive due to rounding.

Operating surplus declines following reductions in government support for business

Gross operating surplus plus gross mixed income (GOSMI) fell 5.7%, driven by non-mining industries as support payments from government declined.

Mining operating surplus partly offset the fall, rising 8.3%. The strong growth this quarter reflects rising iron ore prices and increased demand for Australia's LNG.

Mining and non-mining contributions to quarterly growth in GOSMI, current prices, seasonally adjusted
	Mining (ppt)	Non-mining (ppt)	Total GOS + GMI (ppt)
Dec-12	-0.9	1.0	0.1
Mar-13	0.7	0.1	0.8
Jun-13	1.3	0.5	1.8
Sep-13	1.0	-0.7	0.3
Dec-13	0.6	1.8	2.4
Mar-14	0.1	0.1	0.2
Jun-14	-1.3	1.0	-0.3
Sep-14	-1.8	0.8	-1.0
Dec-14	-0.8	1.9	1.1
Mar-15	-0.7	0.6	-0.1
Jun-15	-0.7	0.4	-0.3
Sep-15	0.1	0.5	0.6
Dec-15	-0.3	-0.6	-0.8
Mar-16	-0.9	-0.5	-1.4
Jun-16	1.0	1.9	2.8
Sep-16	1.6	0.8	2.4
Dec-16	4.6	3.5	8.1
Mar-17	1.6	1.4	3.0
Jun-17	-1.4	-0.4	-1.8
Sep-17	-0.1	0.7	0.6
Dec-17	0.7	-0.1	0.6
Mar-18	1.2	1.5	2.7
Jun-18	0.8	0.3	1.1
Sep-18	1.2	0.1	1.3
Dec-18	1.5	0.5	2.0
Mar-19	1.5	0.8	2.3
Jun-19	1.7	-0.2	1.5
Sep-19	-0.2	1.3	1.1
Dec-19	-0.9	0.1	-0.8
Mar-20	-0.1	-0.4	-0.6
Jun-20	-0.3	12.6	12.4
Sep-20	-0.9	4.3	3.4
Dec-20	1.3	-7.1	-5.7

Mining and non-mining contributions to quarterly growth in GOSMI, current prices, seasonally adjusted

["","Mining","Non-mining","Total GOS + GMI"]

[["Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20"],[[-0.90000000000000002],[0.69999999999999996],[1.3],[1],[0.59999999999999998],[0.10000000000000001],[-1.3],[-1.8],[-0.80000000000000004],[-0.69999999999999996],[-0.69999999999999996],[0.10000000000000001],[-0.29999999999999999],[-0.90000000000000002],[1],[1.6000000000000001],[4.5999999999999996],[1.6000000000000001],[-1.3999999999999999],[-0.10000000000000001],[0.69999999999999996],[1.2],[0.80000000000000004],[1.2],[1.5],[1.5],[1.7],[-0.20000000000000001],[-0.90000000000000002],[-0.10000000000000001],[-0.29999999999999999],[-0.90000000000000002],[1.3]],[[1],[0.10000000000000001],[0.5],[-0.69999999999999996],[1.8],[0.10000000000000001],[1],[0.80000000000000004],[1.8999999999999999],[0.59999999999999998],[0.40000000000000002],[0.5],[-0.59999999999999998],[-0.5],[1.8999999999999999],[0.80000000000000004],[3.5],[1.3999999999999999],[-0.40000000000000002],[0.69999999999999996],[-0.10000000000000001],[1.5],[0.29999999999999999],[0.10000000000000001],[0.5],[0.80000000000000004],[-0.20000000000000001],[1.3],[0.10000000000000001],[-0.40000000000000002],[12.6],[4.2999999999999998],[-7.0999999999999996]],[[0.10000000000000001],[0.80000000000000004],[1.8],[0.29999999999999999],[2.3999999999999999],[0.20000000000000001],[-0.29999999999999999],[-1],[1.1000000000000001],[-0.10000000000000001],[-0.29999999999999999],[0.59999999999999998],[-0.80000000000000004],[-1.3999999999999999],[2.7999999999999998],[2.3999999999999999],[8.0999999999999996],[3],[-1.8],[0.59999999999999998],[0.59999999999999998],[2.7000000000000002],[1.1000000000000001],[1.3],[2],[2.2999999999999998],[1.5],[1.1000000000000001],[-0.80000000000000004],[-0.59999999999999998],[12.4],[3.3999999999999999],[-5.7000000000000002]]]

[]

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Expenditure

			% Change	% Change	% points contribution to growth in GDP
			Sep 20 to Dec 20	Dec 19 to Dec 20	Sep 20 to Dec 20
Final consumption expenditure
	General government		0.8	7.4	0.2
	Households		4.3	-2.7	2.3
	Total final consumption expenditure		3.2	-0.1	2.4
Gross fixed capital formation
	Private
		Dwellings	4.1	0.6	0.2
		Ownership transfer costs	15.2	15.3	0.2
		Non-dwelling construction	-1.9	-6.2	-0.1
		Machinery and equipment	8.9	-4.3	0.3
		Cultivated biological resources	-	20.7	-
		Intellectual property products	1.4	-5.4	-
	Public		2.5	1.8	0.1
	Total gross fixed capital formation		3.6	-0.9	0.8
Changes in inventories			na	na	-0.1
Gross national expenditure			3.2	-0.3	3.1
Exports of goods and services			3.8	-11.7	0.8
Imports of goods and services			4.9	-9.6	-0.9
Statistical discrepancy (E)			na	na	0.1
Gross domestic product			3.1	-1.1	3.1

- nil or rounded to zero (including null cells)
na not available

Final consumption expenditure (FCE) 3.2%

Gross fixed capital formation (GFCF) 3.6%

Changes in inventories

Exports and imports of goods and services

Income

Income estimates are in seasonally adjusted current prices

		% Change	% Change	% points contribution to growth in GDP
		Sep 20 to Dec 20	Dec 19 to Dec 20	Sep 20 to Dec 20
Compensation of employees		1.5	2.0	0.7
Gross operating surplus
	Private non-financial corporations	-7.5	11.7	-1.9
	Other(a)	1.3	2.9	0.2
Gross mixed income		-12.7	13.6	-1.3
Taxes less subsidies on production and imports		727.5	-44.2	6.6
Statistical discrepancy (I)		na	na	-0.1
Gross domestic product		4.2	0.6	4.2

- nil or rounded to zero (including null cells)
na not available
a. Includes Public non-financial corporations, Financial corporations, General government and Dwellings owned by persons.

Compensation of employees (COE) 1.5%

State compensation of employees, current prices, seasonally adjusted
	Quarterly growth (%)	Through the year (%)
NSW	1.2	1.8
Vic.	1.4	0
Qld	1.7	3.2
SA	1.4	2.0
WA	2.1	3.5
Tas.	1.2	4.2
NT	3.7	5.6
ACT	0.8	6.3
Aust.	1.5	2.0

Gross operating surplus (GOS) -4.0%

Taxes less subsidies on production and imports 727.5%

Production

	% Change	% Change	% points contribution to growth in GDP
	Sep 20 to Dec 20	Dec 19 to Dec 20	Sep 20 to Dec 20
Agriculture, Forestry and Fishing	26.8	20.0	0.5
Mining	-1.0	-3.6	-0.1
Manufacturing	1.2	-2.0	0.1
Electricity, Gas, Water and Waste Services	-0.9	-2.8	-
Construction	0.3	-5.2	-
Wholesale Trade	3.6	4.3	0.1
Retail Trade	3.7	6.3	0.2
Accommodation and Food Services	7.9	-13.2	0.2
Transport, Postal and Warehousing	6.1	-16.8	0.2
Information Media and Telecommunications	5.2	2.1	0.1
Financial and Insurance Services	0.4	2.9	-
Rental, Hiring and Real Estate Services	7.4	-3.8	0.2
Professional, Scientific and Technical Services	4.7	1.9	0.3
Administrative and Support Services	9.4	-14.0	0.3
Public Administration and Safety	0.8	5.5	-
Education and Training	0.2	0.8	-
Health Care and Social Assistance	2.2	2.4	0.2
Arts and Recreation Services	8.4	-8.2	0.1
Other Services	9.9	-7.2	0.2
Ownership of dwellings	0.4	1.7	-
Taxes less subsidies on products	8.6	-1.2	0.5
Statistical discrepancy (P)	na	na	-
Gross domestic product	3.1	-1.1	3.1

- nil or rounded to zero (including null cells)
na not available

Agriculture, Forestry and Fishing 26.8%

Mining -1.0%

Manufacturing 1.2%

Wholesale Trade 3.6%

Accommodation and Food Services 7.9%

Transport, Postal and Warehousing 6.1%

Information Media and Telecommunications 5.2%

Financial and Insurance Services 0.4%

Rental, Hiring and Real Estate Services 7.4%

Professional, Scientific and Technical Services 4.7%

Administrative and Support Services 9.4%

Health Care and Social Assistance 2.2%

Arts and Recreation Services 8.4%

Other Services 9.9%

State and territory final demand

		Percentage change from Sep 20 to Dec 20
		NSW	Vic.	Qld	SA	WA	Tas.	NT	ACT	Aust.(a)
Final consumption expenditure
	General government	1.5	0.8	-1.2	0.1	4.4	2.1	-0.3	-1.4	0.8
	Households	3.1	10.4	2.3	0.9	0.3	2.4	5.2	4.2	4.3
Gross fixed capital formation
	Private	4.2	5.1	4.9	-1.5	1.5	8.4	14.1	4.8	3.9
	Public	2.2	1.5	4.1	6.1	1.3	5.7	-0.7	0.8	2.5
State final demand		2.9	6.8	2.0	0.6	1.5	3.3	4.1	1.3	3.3

- nil or rounded to zero (including null cells)
a. Australia estimates relate to Domestic final demand.

Quarterly volume measures, seasonally adjusted

Image

Description

The image is a map of Australia by state/territory showing quarterly volume measures; New South Wales' state final demand increased 2.9% for the quarter. Victoria's state final demand increased 6.8% for the quarter. Queensland's state final demand increased 2.0% for the quarter. South Australia's state final demand increased 0.6% for the quarter. Western Australia's state final demand increased 1.5% for the quarter. Tasmania's state final demand increased 3.3% for the quarter. Northern Territory's state final demand increased 4.1% for the quarter. Australian Capital Territory's state final demand increased 1.3% for the quarter.

New South Wales 2.9%

Victoria 6.8%

Queensland 2.0%

South Australia 0.6%

Western Australia 1.5%

Tasmania 3.3%

Northern Territory 4.1%

Australian Capital Territory 1.3%

Key tables

Key national accounts aggregates

		Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20	Sep 20 to Dec 20	Through the year, Dec 19 to Dec 20
Percentage change (a)
Chain volume GDP and related measures (b)
	GDP	0.4	-0.3	-7.0	3.4	3.1	-1.1
	GDP per capita (c)	0.1	-0.6	-7.2	3.3	3.0	-1.8
	Gross value added market sector (d)	0.2	-0.6	-7.9	3.2	3.4	-2.3
	Net domestic product	0.4	-0.5	-8.6	4.1	3.7	-1.8
Real income measures (b)
	Real gross domestic income	-0.7	-0.2	-6.8	3.7	4.2	0.5
	Real gross national income	-0.3	-0.1	-5.9	4.3	4.1	2.1
	Real net national disposable income	-0.5	-0.2	-7.3	5.2	4.9	2.1
	Real net national disposable income per capita (c)	-0.9	-0.5	-7.5	5.2	4.7	1.4
Current price measures
	GDP	-0.2	0.3	-7.5	4.0	4.2	0.6
Productivity
	Hours worked	0.2	-0.9	-10.0	4.9	3.2	-3.5
	Hours worked market sector (d)	0.4	-1.4	-11.7	5.5	3.3	-5.0
	GDP per hour worked	0.2	0.6	3.4	-1.4	0.0	2.5
	Gross value added per hour worked market sector (d)	-0.2	0.8	4.2	-2.2	0.1	2.8
	Real unit labour costs	1.2	-0.6	-8.9	-0.9	6.9	-4.1
	Real unit labour costs - non-farm	1.4	-0.5	-9.3	-1.0	7.4	-4.0
Prices
	GDP implicit price deflator	-0.6	0.6	-0.5	0.6	1.1	1.7
	Domestic final demand implicit price deflator	0.4	0.3	-0.2	0.0	0.3	0.4
	Terms of trade	-4.5	0.4	0.8	1.3	4.7	7.4
Levels
Chain volume GDP and related measures (b)
	GDP ($m)	497 109	495 641	460 930	476 618	491 525	. .
	GDP per capita (c) ($)	19 450	19 332	17 945	18 546	19 094	. .
	Gross value added market sector (d) ($m)	337 850	335 851	309 198	319 097	330 074	. .
	Net domestic product ($m)	411 241	409 306	374 103	389 288	403 710	. .
Real income measures (b)
	Real gross domestic income ($m)	496 349	495 327	461 472	478 499	498 600	. .
	Real gross national income ($m)	485 123	484 685	456 180	475 772	495 434	. .
	Real net national disposable income ($m)	398 842	398 133	368 955	388 185	407 199	. .
	Real net national disposable income per capita (c) ($)	15 605	15 529	14 364	15 105	15 819	. .
Current price measures
	GDP ($m)	504 517	506 076	468 281	486 897	507 579	. .
	GDP per capita (c) ($)	19 740	19 739	18 231	18 946	19 718	. .
	Gross national income ($m)	494 084	495 367	462 180	483 428	504 298	. .
	National net saving ($m)	31 305	32 323	29 764	29 223	36 151	. .
	Household saving ratio	5.3	7.9	22.0	18.7	12.0	. .
Prices
	Terms of trade (index) (e)	99.4	99.7	100.5	101.8	106.7	. .

. . not applicable
- nil or rounded to zero
a. Change on preceding quarter; last column shows the change between the current quarter and the corresponding quarter of the previous year.
b. Reference year for chain volume measures and real income measures is 2018-19.
c. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
e. Reference year for indexes is 2018-19 = 100.0.

Revisions to percentage changes (a)

		Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20
Percentage change (a)
Chain volume GDP and related measures (b)
	GDP	-	-	-	0.1
	GDP per capita (c)	0.1	-	-	0.1
	Gross value added market sector (d)	0.1	-	-	0.1
	Net domestic product	-	-	-	0.1
Real income measures (b)
	Real gross domestic income	-	-	-	0.2
	Real gross national income	-	-0.1	0.1	0.3
	Real net national disposable income	-	-0.1	0.1	0.4
	Real net national disposable income per capita (c)	-	-0.1	0.1	0.4
Current price measures
	GDP	-0.1	-	-0.1	0.3
	Household saving ratio (e)	-	0.3	-0.1	-0.2
Productivity
	Hours worked	-	-	0.1	0.5
	Hours worked market sector (d)	-	-0.1	0.1	0.2
	GDP per hour worked	-	-	-	-0.3
	Gross value added per hour worked market sector (d)	0.1	-	-0.3	-0.1
	Real unit labour costs	-	-	-	-0.2
	Real unit labour costs - non-farm	-	-	-	-0.2
Prices
	Terms of trade	-0.1	-	-0.1	0.6

- nil or rounded to zero
a. Change on preceding quarter.
b. Reference year for chain volume measures and real income measures is 2018-19.
c. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
e. Revisions to levels.

Analytical expenditure aggregates

	Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20	Sep 20 to Dec 20	Through the year, Dec 19 to Dec 20	Contribution to growth, Sep 20 to Dec 20
Final consumption expenditure
	General government	1.2	2.0	2.9	1.5	0.8	7.4	0.2
	Households	0.3	-1.4	-12.3	7.9	4.3	-2.7	2.3
		Goods	0.2	1.3	-3.0	5.1	2.8	6.2	0.6
		Services	0.4	-2.9	-17.8	9.8	5.2	-7.8	1.7
		Essential	0.3	0.6	-4.7	4.4	1.2	1.3	0.4
		Discretionary	0.3	-4.5	-24.7	15.0	9.9	-9.1	1.8
Gross fixed capital formation
	Private	-1.0	-0.3	-5.9	0.7	3.9	-1.7	0.7
		Mining	6.6	3.2	0.6	-3.3	1.4	1.8	-
		Non-mining	-3.4	-1.7	-6.6	-1.5	2.5	-7.3	0.2
		Total private business investment	-1.1	-0.5	-4.7	-2.0	2.2	-5.0	0.2
	Public	-0.2	-0.1	-0.4	-0.2	2.5	1.8	0.1
Final demand
	Public		0.9	1.6	2.2	1.2	1.1	6.2	0.3
	Private		-	-1.1	-10.7	6.0	4.2	-2.5	2.9

	Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20
Final consumption expenditure
	General government	-	0.1	-0.1	0.1
	Households	-0.1	-0.1	0.2	-
		Goods	-0.4	-	0.4	-0.1
		Services	0.1	-0.1	0.1	-
		Essential	-0.3	-	0.1	0.1
		Discretionary	0.3	-0.3	0.3	-0.2
Gross fixed capital formation
	Private	-	0.1	0.3	0.9
		Mining	0.8	-0.5	0.1	1.9
		Non-mining	0.2	0.1	0.5	0.6
		Total private business investment	0.4	-0.1	0.4	1.0
	Public	-0.8	0.5	0.1	-0.5
Final demand
	Public		-0.2	0.2	-0.1	-
	Private		-	-	0.3	0.2

Expenditure aggregates

	Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20	Sep 20 to Dec 20
Final consumption expenditure
	General government	0.2	0.4	0.6	0.3	0.2
	Households	0.2	-0.8	-6.7	4.0	2.3
Gross fixed capital formation
	Private	-0.2	-	-1.0	0.1	0.7
	Public	-	-	-	-	0.1
Domestic final demand	0.2	-0.4	-7.1	4.5	3.2
Changes in inventories	0.3	-0.3	-0.5	1.0	-0.1
Exports of goods and services	-0.2	-1.0	-1.8	-0.9	0.8
Imports of goods and services	0.1	1.5	2.4	-1.1	-0.9
Statistical discrepancy (E)	-	-0.1	-	-	0.1
Gross domestic product	0.4	-0.3	-7.0	3.4	3.1

Expenditure on GDP

Percentage changes

		Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20	Sep 20 to Dec 20	Through the year, Dec 19 to Dec 20	Contribution to growth, Sep 20 to Dec 20
Final consumption expenditure
	General government	1.2	2.0	2.9	1.5	0.8	7.4	0.2
	Households	0.3	-1.4	-12.3	7.9	4.3	-2.7	2.3
	Total final consumption expenditure	0.5	-0.5	-8.2	5.9	3.2	-0.1	2.4
Private gross fixed capital formation
	Dwellings	-3.2	-0.1	-4.9	1.6	4.1	0.6	0.2
	Ownership transfer costs	9.1	0.6	-18.2	21.6	15.2	15.3	0.2
	Non-dwelling construction	-2.5	0.4	-1.8	-3.1	-1.9	-6.2	-0.1
	Machinery and equipment	-0.2	-1.4	-8.2	-3.0	8.9	-4.3	0.3
	Cultivated biological resources	-1.2	6.2	8.9	4.4	-	20.7	-
	Intellectual property products	0.9	-1.7	-7.2	2.2	1.4	-5.4	-
	Total private gross fixed capital formation	-1.0	-0.3	-5.9	0.7	3.9	-1.7	0.7
Public gross fixed capital formation
	Public corporations	-8.3	7.7	-7.1	7.2	-0.6	6.7	-
	General government	2.3	-2.3	1.7	-2.3	3.5	0.5	0.1
	Total public gross fixed capital formation	-0.2	-0.1	-0.4	-0.2	2.5	1.8	0.1
Total gross fixed capital formation		-0.8	-0.2	-4.6	0.5	3.6	-0.9	0.8
Domestic final demand		0.2	-0.4	-7.4	4.6	3.3	-0.3	3.2
Changes in inventories		. .	. .	. .	. .	. .	. .	-0.1
Exports of goods and services		-0.8	-4.2	-7.6	-4.0	3.8	-11.7	0.8
Imports of goods and services		-0.6	-7.2	-12.3	5.9	4.9	-9.6	-0.9
Statistical discrepancy (E)		. .	. .	. .	. .	. .	. .	0.1
Gross domestic product		0.4	-0.3	-7.0	3.4	3.1	-1.1	3.1

. . not applicable
- nil or rounded to zero

Revisions to percentage changes

		Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20
Final consumption expenditure
	General government	-	0.1	-0.1	0.1
	Households	-0.1	-0.1	0.2	-
	Total final consumption expenditure	-0.1	-0.1	0.1	-
Private gross fixed capital formation
	Dwellings	-0.7	0.4	0.3	1.0
	Ownership transfer costs	-	-	0.4	0.2
	Non-dwelling construction	0.7	-0.2	0.6	1.8
	Machinery and equipment	-	-	-	0.7
	Cultivated biological resources	-0.5	1.5	3.3	-1.9
	Intellectual property products	0.2	-0.1	-	-0.1
	Total private gross fixed capital formation	-	0.1	0.3	0.9
Public gross fixed capital formation
	Public corporations	-1.0	0.4	0.8	-0.8
	General government	-0.8	0.5	-	-0.4
	Total public gross fixed capital formation	-0.8	0.5	0.1	-0.5
Total gross fixed capital formation		-0.2	0.2	0.3	0.6
Domestic final demand		-0.1	-	0.1	0.1
Gross national expenditure		-	-	0.2	0.3
Exports of goods and services		-0.2	0.2	-0.1	-0.8
Imports of goods and services		-0.5	-	0.5	-0.6
Gross domestic product		-	-	-	0.1

- nil or rounded to zero

Household final consumption expenditure

	Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20	Sep 20 to Dec 20	Through the year, Dec 19 to Dec 20	Contribution to growth, Sep 20 to Dec 20
Food	-0.1	5.6	-3.1	3.8	-1.8	4.4	-0.2
Cigarettes and tobacco	-4.1	-4.2	-3.0	-1.1	-6.8	-14.3	-0.1
Alcoholic beverages	1.0	2.9	13.1	-0.5	-1.5	14.0	-
Clothing and footwear	2.1	-9.1	-18.1	21.5	16.4	5.2	0.6
Rent and other dwelling services	0.5	0.4	0.4	0.3	0.4	1.6	0.1
Electricity, gas and other fuel	2.0	-0.6	4.4	4.8	-7.5	0.5	-0.2
Furnishings and household equipment	1.3	1.3	9.7	-0.9	1.1	11.3	0.1
Health	0.5	-1.5	-20.0	26.0	4.3	3.6	0.3
Purchase of vehicles	-2.4	-2.2	-17.8	15.3	31.8	22.2	0.6
Operation of vehicles	0.6	-4.0	-25.3	10.3	12.8	-10.7	0.5
Transport services	-1.3	-14.6	-85.7	50.4	19.3	-78.1	0.1
Communications	0.3	2.1	1.6	1.3	0.6	5.8	-
Recreation and culture	0.3	-1.8	-15.6	12.5	9.1	1.7	0.9
Education services	0.4	0.3	0.4	0.9	1.0	2.6	0.1
Hotels, cafes and restaurants	0.9	-9.9	-55.7	49.8	17.5	-29.8	0.8
Insurance and other financial services	-	-0.4	0.4	0.7	0.9	1.7	0.1
Other goods and services	0.1	-1.0	-31.5	23.3	11.8	-6.5	0.7
Total	0.3	-1.4	-12.3	7.9	4.3	-2.7	4.3

Industry gross value added

Percentage changes

	Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20	Sep 20 to Dec 20	Through the year, Dec 19 to Dec 20	Contribution to growth, Sep 20 to Dec 20
Agriculture, Forestry and Fishing	-0.9	-3.3	-1.9	-0.2	26.8	20.0	0.5
Mining	-0.1	-0.5	-	-2.1	-1.0	-3.6	-0.1
Manufacturing	1.9	1.9	-9.0	4.4	1.2	-2.0	0.1
Electricity, Gas, Water and Waste Services	-	-1.5	-1.5	1.1	-0.9	-2.8	-
Construction	-2.6	-0.3	-7.6	2.6	0.3	-5.2	-
Wholesale Trade	-0.3	2.1	-6.2	5.1	3.6	4.3	0.1
Retail Trade	0.1	1.7	-4.5	5.5	3.7	6.3	0.2
Accommodation and Food Services	0.6	-7.9	-38.5	42.1	7.9	-13.2	0.2
Transport, Postal and Warehousing	1.9	-4.5	-21.3	4.3	6.1	-16.8	0.2
Information Media and Telecommunications	0.2	0.5	-8.6	5.7	5.2	2.1	0.1
Financial and Insurance Services	0.6	1.1	0.8	0.5	0.4	2.9	-
Rental, Hiring and Real Estate Services	2.6	-1.9	-15.8	8.4	7.4	-3.8	0.2
Professional, Scientific and Technical Services	0.5	1.2	-6.1	2.4	4.7	1.9	0.3
Administrative and Support Services	-0.9	-3.7	-18.9	0.7	9.4	-14.0	0.3
Public Administration and Safety	1.2	2.3	0.8	1.5	0.8	5.5	-
Education and Training	0.3	0.2	0.2	0.2	0.2	0.8	-
Health Care and Social Assistance	1.6	-0.1	-8.1	9.1	2.2	2.4	0.2
Arts and Recreation Services	-1.2	-2.8	-23.9	14.4	8.4	-8.2	0.1
Other Services	1.2	-4.1	-17.2	6.2	9.9	-7.2	0.2
Ownership of dwellings	0.5	0.4	0.4	0.4	0.4	1.7	-
Gross value added at basic prices	0.4	-0.3	-6.3	3.1	2.7	-1.0	2.6
Taxes less subsidies on products	-0.6	0.7	-15.5	7.0	8.6	-1.2	0.5
Statistical discrepancy (P)	. .	. .	. .	. .	. .	. .	-
Gross domestic product	0.4	-0.3	-7.0	3.4	3.1	-1.1	3.1

. . not applicable
- nil or rounded to zero
a. Excludes ownership of dwellings.

Revisions to percentage changes

	Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20
Agriculture, Forestry and Fishing	2.7	-0.4	-	0.4
Mining	0.3	-0.2	-0.1	-0.4
Manufacturing	0.1	-0.2	0.1	0.4
Electricity, Gas, Water and Waste Services	-0.2	0.3	-0.1	0.1
Construction	-0.1	0.2	-	0.4
Wholesale Trade	-0.3	0.3	0.2	0.4
Retail Trade	-	-	-	-0.1
Accommodation and Food Services	-0.2	-	0.1	1.1
Transport, Postal and Warehousing	-0.3	0.3	0.1	-0.4
Information Media and Telecommunications	0.2	-0.3	0.1	-0.6
Financial and Insurance Services	-	-0.1	-	0.1
Rental, Hiring and Real Estate Services	-0.1	0.1	-0.2	0.7
Professional, Scientific and Technical Services	0.3	-0.1	-0.1	-0.1
Administrative and Support Services	-	-	-	-0.1
Public Administration and Safety	-	-	-0.1	-
Education and Training	-	-	-	-
Health Care and Social Assistance	-	-	-	-
Arts and Recreation Services	-	-	-	-0.3
Other Services	-0.1	-0.1	-1.2	2.1
Ownership of dwellings	-	-	-	-
Gross value added at basic prices	0.1	-0.1	-	-
Taxes less subsidies on products	-0.7	0.8	0.5	-0.5
Gross domestic product	-	-	-	0.1

- nil or rounded to zero
a. Excludes ownership of dwellings.

Income from GDP

Seasonally adjusted current prices, percentage changes

			Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20	Sep 20 to Dec 20	Through the year, Dec 19 to Dec 20	Contribution to growth, Sep 20 to Dec 20
Compensation of employees
	Wages and salaries		0.9	0.5	-2.4	2.4	1.5	2.0	0.6
	Employers' social contributions (a)		0.8	0.7	-1.8	2.3	1.4	2.7	0.1
	Total compensation of employees		0.9	0.5	-2.3	2.4	1.5	2.0	0.7
Gross operating surplus
	Non-financial corporations
		Private non-financial corporations	-2.1	-2.0	18.7	3.8	-7.5	11.7	-1.9
		Public non-financial corporations	1.7	2.9	-2.7	3.9	11.4	15.8	0.1
		Total non-financial corporations	-2.0	-1.8	17.8	3.8	-6.9	11.9	-1.8
	Financial corporations		-	1.1	-0.9	1.0	0.9	2.1	0.1
	Total corporations		-1.6	-1.2	13.8	3.3	-5.4	9.8	-1.7
	General government		1.2	1.3	1.4	1.5	1.4	5.7	-
	Dwellings owned by persons		0.6	0.9	-0.2	-	0.5	1.3	-
	Total gross operating surplus		-1.0	-0.6	10.2	2.6	-4.0	7.9	-1.6
Gross mixed income			0.2	-0.6	22.5	6.7	-12.7	13.6	-1.3
Total factor income			0.1	-	4.6	2.9	-2.2	5.3	-2.2
Taxes less subsidies on production and imports			-1.2	1.5	-118.6	52.9	727.5	-44.2	6.6
Statistical discrepancy (I)			. .	. .	. .	. .	. .	. .	-0.1
Gross domestic product			-0.2	0.3	-7.5	4.0	4.2	0.6	4.2

. . not applicable
- nil or rounded to zero
a. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.

Revisions to percentage changes

			Sep 19 to Dec 19	Dec 19 to Mar 20	Mar 20 to Jun 20	Jun 20 to Sep 20
Compensation of employees
	Wages and salaries		-0.1	-	-0.1	0.1
	Employers' social contributions (a)		-0.1	-	-0.1	0.2
	Total compensation of employees		-0.1	-	-	0.1
Gross operating surplus
	Non-financial corporations
		Private non-financial corporations	-	-	-	-
		Public non-financial corporations	-3.0	1.1	-1.4	2.7
		Total non-financial corporations	-0.1	-	-0.1	-
	Financial corporations		-0.1	-	-	0.2
	Total corporations		-0.1	-	-0.1	0.1
	General government		-	-	-	-
	Dwellings owned by persons		-0.1	-	-	-
	Total gross operating surplus		-0.1	-	-	0.1
Gross mixed income			0.2	-0.3	0.3	-0.1
Total factor income			-0.1	-	-	0.1
Taxes less subsidies on production and imports			0.1	0.1	-	-
Gross domestic product			-0.1	-	-0.1	0.3

- nil or rounded to zero
a. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.

State final demand

	Percentage change from Sep 20 to Dec 20
Final consumption expenditure
	General government	1.5	0.8	-1.2	0.1	4.4	2.1	-0.3	-1.4	0.8
	Households	3.1	10.4	2.3	0.9	0.3	2.4	5.2	4.2	4.3
Gross fixed capital formation
	Private	4.2	5.1	4.9	-1.5	1.5	8.4	14.1	4.8	3.9
	Public	2.2	1.5	4.1	6.1	1.3	5.7	-0.7	0.8	2.5
State final demand	2.9	6.8	2.0	0.6	1.5	3.3	4.1	1.3	3.3

Related releases

Australian System of National Accounts (cat. no. 5204.0)

The 2019-20 issue of the Australian System of National Accounts was released on 30 October 2020. This publication provides detailed, annual estimates of Australia's national accounts. These include expenditure, income and production estimates of gross domestic product (GDP), productivity estimates, sectorial accounts (for households, financial and non-financial corporations, general government and the rest of the world), and additional aggregates dissected by industry.

Australian National Accounts: Supply Use Tables (cat. no. 5217.0)

The 2018-19 issue of Australian National Accounts: Supply Use Tables was released on 30 October 2020. The Supply Use tables were introduced in the annual National Accounts in 1998 as an integral part of the annual compilation of the Australian System of National Accounts. They are used to ensure Gross Domestic Product is balanced for all three approaches (production, expenditure and income) and provide the annual benchmarks from which the quarterly estimates are compiled.

Revisions and changes

Revisions in this issue

There are revisions in this issue due to the incorporation of more up-to-date data and concurrent seasonal adjustment.

Suspension of trend estimates

Due to the impacts of COVID-19 on the economy, trend estimates for all series in the National Accounts have been suspended from June 2019 (inclusive). In the short term, this measurement will be significantly affected by changes to regular patterns in economic activity. If trend estimates were to be calculated without fully accounting for this unusual event, they would likely provide a misleading view of the underlying trend in the economy.

Changes in the seasonal adjustment process

Series with significant and prolonged impacts from COVID-19 will use forward seasonal factors to produce seasonally adjusted estimates instead of the standard concurrent seasonal factors method. The forward factors approach is better suited to managing large movements at the end of a series and will ensure that large movements do not have a disproportionate influence on the seasonal factors.

Data downloads

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Time series spreadsheets

Data files

Table 1. Key National Accounts Aggregates
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Table 2. Expenditure on Gross Domestic Product (GDP), Chain volume measures
Download xls [2.04 MB]
Table 3. Expenditure on Gross Domestic Product (GDP), Current prices
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Table 4. Expenditure on Gross Domestic Product (GDP), Chain price indexes
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Table 5. Expenditure on Gross Domestic Product (GDP), Implicit price deflators
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Table 6. Gross Value Added by Industry, Chain volume measures
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Table 7. Income from Gross Domestic Product (GDP), Current prices
Download xls [347 KB]
Table 8. Household Final Consumption Expenditure (HFCE)
Download xls [679.5 KB]
Table 9. Changes in Inventories
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Table 10. Agricultural Income, Current prices
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Table 11. National Income Account, Current prices
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Table 12. National Capital Account, Current prices
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Table 13. Non-Financial Corporations Income Account, Current prices
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Table 14. Private Non-Financial Corporations Income Account, Current prices
Download xls [267 KB]
Table 15. Public Non-Financial Corporations Income Account, Current prices
Download xls [262.5 KB]
Table 16. Financial Corporations Income Account, Current prices
Download xls [267 KB]
Table 17. General Government Income Account, Current prices
Download xls [377.5 KB]
Table 18. National General Government Income Account, Current prices
Download xls [367 KB]
Table 19. State and Local General Government Income Account, Current prices
Download xls [327.5 KB]
Table 20. Household Income Account, Current prices
Download xls [423.5 KB]
Table 21. External Account, Current prices
Download xls [194.5 KB]
Table 22. Taxes, Current prices
Download xls [250 KB]
Table 23. Social Assistance Benefits Payments, Current prices
Download xls [247 KB]
Table 24. Selected Analytical Series
Download xls [474 KB]
Table 25. State Final Demand, Summary Components by State: Chain volume measures
Download xls [583 KB]
Table 26. State Final Demand, Detailed Components: New South Wales
Download xls [925 KB]
Table 27. State Final Demand, Detailed Components: Victoria
Download xls [925 KB]
Table 28. State Final Demand, Detailed Components: Queensland
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Table 29. State Final Demand, Detailed Components: South Australia
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Table 30. State Final Demand, Detailed Components: Western Australia
Download xls [1.11 MB]
Table 31. State Final Demand, Detailed Components: Tasmania
Download xls [925 KB]
Table 32. State Final Demand, Detailed Components: Northern Territory
Download xls [1.11 MB]
Table 33. State Final Demand, Detailed Components: Australian Capital Territory
Download xls [926.5 KB]
Table 34. Key Aggregates and analytical series, Annual
Download xls [147.5 KB]
Table 35. Income from GDP and Changes in Inventories, Annual
Download xls [80 KB]
Table 36. Expenditure on Gross Domestic Product (GDP), Chain volume measures and Current prices, Annual
Download xls [226 KB]
Table 37. Industry Gross Value Added, Chain volume measures, Annual
Download xls [106.5 KB]
Table 38. National Income Account, Current prices, Annual
Download xls [73 KB]
Table 39. National Capital Account, Current prices, Annual
Download xls [74 KB]
Table 40. External Account, Current prices, Annual
Download xls [71.5 KB]
Table 41. Indexes of Industrial Production
Download xls [218 KB]
Table 42. Unit Labour Costs
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Table 43. Indexes of Industrial Production, Annual
Download xls [74.5 KB]
Table 44. Compensation of Employees, State by Sector: Current prices
Download xls [151.5 KB]
Table 45. Gross Value Added by Industry, Current prices
Download xls [540 KB]

Previous catalogue number

This release previously used catalogue number 5206.0.

Methodology

Australian National Accounts: National Income, Expenditure and Product methodology, December 2020

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APA

Australian National Accounts: National Income, Expenditure and Product

APA

Key statistics

Articles

Economic overview

December key figures, percentage changes (a)

Australian economy rose 3.1% in December quarter

Strong growth in the terms of trade

Private demand continues to recover

Household spending rises

Victoria records the strongest increase in household spending

Household saving ratio remains at a high level

Private investment records strongest rise since September quarter 2017

Bumper harvest leads to a record rise in Agriculture, Forestry and Fishing gross value added (GVA)

Compensation of employees (COE) rises with underlying activity

Operating surplus declines following reductions in government support for business

Expenditure

Final consumption expenditure (FCE) 3.2%

Gross fixed capital formation (GFCF) 3.6%

Changes in inventories

Exports and imports of goods and services

Income

Compensation of employees (COE) 1.5%

Gross operating surplus (GOS) -4.0%

Taxes less subsidies on production and imports 727.5%

Production

Agriculture, Forestry and Fishing 26.8%

Mining -1.0%

Manufacturing 1.2%

Wholesale Trade 3.6%

Accommodation and Food Services 7.9%

Transport, Postal and Warehousing 6.1%

Information Media and Telecommunications 5.2%

Financial and Insurance Services 0.4%

Rental, Hiring and Real Estate Services 7.4%

Professional, Scientific and Technical Services 4.7%

Administrative and Support Services 9.4%

Health Care and Social Assistance 2.2%

Arts and Recreation Services 8.4%

Other Services 9.9%

State and territory final demand

Quarterly volume measures, seasonally adjusted

New South Wales 2.9%

Victoria 6.8%

Queensland 2.0%

South Australia 0.6%

Western Australia 1.5%

Tasmania 3.3%

Northern Territory 4.1%

Australian Capital Territory 1.3%

Key tables

Key national accounts aggregates

Revisions to percentage changes (a)

Analytical expenditure aggregates

Percentage changes

Revisions to percentage changes

Expenditure aggregates

Contributions to growth

Expenditure on GDP

Percentage changes

Revisions to percentage changes

Household final consumption expenditure

Percentage changes

Industry gross value added

Percentage changes

Revisions to percentage changes

Income from GDP

Seasonally adjusted current prices, percentage changes

Revisions to percentage changes

State final demand

Related releases

Australian System of National Accounts (cat. no. 5204.0)

Australian National Accounts: Supply Use Tables (cat. no. 5217.0)

Read more

Australian National Accounts: State Accounts (cat. no. 5220.0)

Estimates of Industry Multifactor Productivity (cat. no. 5260.0.55.002) and Experimental Estimates of Industry Level KLEMS Multifactor Productivity (cat. no. 5260.0.55.004)

Australian National Accounts: Finance and Wealth (cat. no. 5232.0)

Revisions and changes

Revisions in this issue