7123.1.55.001 - Agricultural State Profile, New South Wales, 2002-03  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 14/07/2004   
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Contents >> Agricultural State Profile 2002-03 >> Agriculture and the economy

The contribution of agriculture to the NSW 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 NSW was $10.2 billion. Preliminary estimates for 2002-03 indicate the gross value of agricultural production for NSW was $8.0 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 NSW was calculated to be $3.7 billion, or 1.4% of gross state product; and
  • the value of exports of agricultural commodities from NSW (i.e. export products sourced from the agriculture industry), which amounted to $1.4 billion in 2002-03.
GROSS FARM PRODUCT, NSW

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

Gross farm product (GFP)(b)
3,787
4,086
5,038
6,242
3,694
Gross state product (GSP)
211,309
224,586
238,513
251,900
265,966
GFP as % of GSP
1.8
1.8
2.1
2.5
1.4

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




This section contains the following subsection :
        Value of agricultural production

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