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The contribution of the manufacturing industry to the Tasmanian economy can be assessed in terms of its 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 2003-04, the manufacturing sector contributed 13.7% to Tasmania's GSP based on factor incomes (i.e. the sum of compensation of employees, gross operating surplus and gross mixed income).

Compensation of employees includes wages and salaries, employer contributions to pension and superannuation funds, and premiums paid by employers to workers' compensation schemes. In 2003-04, some 13.4% of Tasmania's compensation of employees was in the manufacturing industry.

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 2003-04, some 14.1% of Tasmania's gross operating surplus and gross mixed income was in the manufacturing industry.

MANUFACTURING'S CONTRIBUTION TO GROSS STATE PRODUCT, Tasmania
	Compensation of employees			Gross operating surplus and gross mixed income			Gross State Product(a)
Year	$m	% of Tas. total		$m	% of Tas. total		$m	% of Tas. total
1998-99	859	15.7		655	r 14.1		1,514	r 15.0
1999-2000	847	15.5		645	r 13.9		1,492	14.7
2000-01	850	15.1		r 651	r 13.7		r 1,501	r 14.4
2001-02	r 871	r 14.7		r 702	r 13.4		r 1,573	14.1
2002-03	r 905	r 14.3		r 755	r 13.7		r 1,660	r 14.0
2003-04	913	13.4		860	14.1		1,773	13.7
r revised (a) Based on factor incomes (i.e. the sum of compensation of employees, gross operating surplus and gross mixed income). Source: Australian National Accounts: State Accounts (cat. no. 5220.0).