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The contribution of various industries to the Tasmanian economy can be assessed in terms of their contribution to Gross State Product (GSP). GSP is the total market value of goods and services produced in Tasmania within a given period after deducting the cost of goods and services used up in the process of production, but before deducting allowances for the consumption of fixed capital.

In 2005-06, major contributing industries to GSP, based on factor incomes (i.e. the sum of compensation of employees, gross operating surplus and gross mixed income) were Manufacturing (14.5%), Health and community services (9.7%) and Retail trade (7.5%).

Compensation of employees includes wages and salaries, employer contributions to pension and superannuation funds, and premiums paid by employers to workers' compensation schemes. In 2005-06, some 15.7% of Tasmania's compensation of employees was in Health and community services, 14.4% was in Manufacturing and 10.1% was in Government administration and defence.

Gross operating surplus and gross mixed income is defined as gross value added minus compensation of employees, minus taxes on production and imports payable plus subsidies receivable. In 2005-06, some 15.9% of Tasmania's gross operating surplus and gross mixed income was in Ownership of dwellings, 14.5% was in Manufacturing, and 11.3% was in Agriculture, forestry and fishing.

TOTAL FACTOR INCOME BY INDUSTRY AND PRINCIPAL COMPONENTS, Tasmania - 2005-06
	Compensation of employees			Gross operating surplus and gross mixed income			Total factor income
Industry	$m	% of Tas. total		$m	% of Tas. total		$m	% of Tas. total
Agriculture, forestry and fishing	240	2.9		802	11.3		1042	6.7
Mining	177	2.1		155	2.2		332	2.1
Manufacturing	1205	14.4		1032	14.5		2237	14.5
Electricity, gas and water supply	214	2.6		533	7.5		747	4.8
Construction	396	4.7		448	6.3		844	5.5
Wholesale trade	297	3.6		271	3.8		568	3.7
Retail trade	708	8.5		459	6.4		1167	7.5
Accommodation, cafes and restaurants	297	3.6		115	1.6		412	2.7
Transport and storage	343	4.1		309	4.3		652	4.2
Communication services	109	1.3		258	3.6		367	2.4
Finance and insurance	416	5.0		502	7.0		918	5.9
Property and business services	512	6.1		412	5.8		924	6.0
Government administration and defence	844	10.1		..	..		844	5.5
Education	836	10.0		13	0.2		849	5.5
Health and community services	1309	15.7		185	2.6		1494	9.7
Cultural and recreational services	146	1.7		64	0.9		210	1.4
Personal and other services	301	3.6		23	0.3		324	2.1
Ownership of dwellings	..	..		1135	15.9		1135	7.3
General government	..	..		412	5.8		412	2.7
All industries	8350	100.0		7128	100.0		15478	100.0
.. not applicable Source: Australian National Accounts: State Accounts (cat. no. 5220.0).