7123.2.55.001 - Agricultural State Profile, Victoria, 2002-03

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Contents >> Agriculture and the economy

The contribution of agriculture to the Victorian economy can be measured in a number of ways. The most direct measurement available is the gross value of agricultural production, which is the value placed on recorded production at wholesale prices realised in the market place. In 2001-02, the gross value of agricultural production for Victoria was $9.3 billion. Preliminary estimates for 2002-03 indicate the gross value of agricultural production for Victoria was $7.6 billion.

Other measures of the contribution of agriculture to the economy include:

gross farm product (GFP), which is a measure of the value added in production by farm businesses. In 2002-03 the GFP for Victoria was $5.1 billion, or 2.7% of gross state product; and
the value of exports of agricultural commodities from Victoria, which amounted to $1.7 billion in 2002-03.

GROSS FARM PRODUCT, Victoria


	1998-99 $m	1999-2000(a) $m	2000-01(a) $m	2001-02(a) $m	2002-03 $m

Gross farm product (GFP)	4,078	4,573	6,024	6,861	5,100
Gross state product (GSP)	150,468	159,253	171,426	182,324	192,407
GFP as % of GSP	2.7	2.9	3.5	3.8	2.7

(a) Data have been revised following a review of compilation methods.
Source: Australian National Accounts: State Accounts (cat. no. 5220.0).

This section contains the following subsection :
Value of agricultural production