NON-FINANCIAL ASSETS

Non-financial assets accounted for the majority of all national assets (88%) in June 2009. Between June 1999 and June 2009, real non-financial assets per capita grew by about 1.0% per year, rising from $312,400 to $345,200 (in 2007-08 prices). Non-financial assets comprise assets made or cultivated by people ('produced assets') and natural resources used for economic purposes ('non-produced assets').

Between June 1999 and June 2009, real produced assets per capita grew by around 2.0% per year, increasing from $149,000 in 1999 to $181,500 in 2009. Of these assets, computer software (up by 9.6% per year), machinery and equipment (up 5.5% per year) and research and development (up 4.4% per year) grew most strongly between 1999 and 2009, although software and research and development only accounted for a small proportion of total assets (0.5% and 0.8% respectively). Non-dwelling construction and dwellings accounted for 18% and 16% each of total real assets in June 2009, and experienced an average growth rate of 1.6% and 1.8% per year respectively.

Non-produced assets are estimates of the value of some of Australia's natural resources, such as land, mineral resources, subsoil assets and native timber available for log production. Although largely the result of natural endowment, exploration and development increase the economic value of these assets. Real non-produced assets declined slightly (0.2% a year) on a per capita basis from $166,300 in June 1999 to $163,700 in June 2009, indicating that the population is growing faster than the value of these national resources.