NOTES
ABOUT THIS PUBLICATION
This publication contains state and territory estimates of Gross domestic product (referred to as gross state product (GSP)) and its components, in current price and volume terms, for the years 1989-90 to 2015-16.
CHANGES IN THIS ISSUE
The estimates in this issue incorporate new and revised national estimates as published in the 2015-16 Australian System of National Accounts (cat. no. 5204.0). This includes the incorporation of the 2014-15 annual supply and use benchmarks, new data and data confrontation to balance the accounts. For information on the role of supply and use tables in the national accounts and the major revisions please see the 'Analysis of Results' section within Australian System of National Accounts (cat. no. 5204.0) publication.
The national revisions impact on all states, although the extent varies between states. This is due to the nature of the revision or the differing state weights of estimates affected by revisions. For example, if a certain state has a large proportion of an industry, then revisions to that industry's national total will have a greater impact upon the result of that state than the other states. Recent years have also had the addition of new and updated data sources that become available throughout the year.
This release of the Australian National Accounts: State Accounts (cat. no. 5220.0) incorporates a change to the data presented for International Trade in Goods and Services. The estimates relating to International Trade are now presented on a Balance of Payments basis (as published in the Balance of Payments and International Investment Position, Australia (cat. no. 5302.0) as opposed to the previous Merchandise Trade basis (as published in the International Trade in Goods and Services, Australia (cat. no. 5368.0). This better aligns with the Australian System of National Accounts concepts and creates consistency between the Trade estimates published in 5204.0 and 5220.0. In previous releases of publication 5220.0, the difference between the Merchandise Trade data and the Balance of Payments data was captured in the Balancing Item for each state. Publishing international trade data on a Balance of Payments basis removes this component of international trade from the balancing item to improve the compilation of the state accounts without impacting state totals of Gross State Product. As a result, revisions will be seen in the components of International Trade and the Balancing Item for each state.
DATA VALUES AND ROUNDING
All values, unless otherwise indicated, are shown in Australian dollars rounded to the nearest million.
Where figures have been rounded, discrepancies may occur between the sums of the component items and totals.
NEXT ISSUE
The 2016-17 issue of this publication is expected to be released in November 2017.
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