ECONOMIC ACTIVITY

GROSS STATE PRODUCT (GSP)

Tasmania's Gross State Product (GSP) reached $19,239 million in 2006-07, an increase of $397 million or 2.1% from the 2005-06 figure of $18,842 million. In 2006-07, household final consumption expenditure was the largest component of total GSP, contributing $11,752 million (61.1%). At the same time, government final consumption expenditure accounted for $4,385 million (22.8%) of GSP. State final demand in 2006-07 decreased by 0.7% on the 2005-06 estimate of $20,239 million.

GROSS STATE PRODUCT, Tasmania (chain volume measures)

STATE FINAL DEMAND, Tasmania (chain volume measures)

CONSUMER PRICE INDEX (CPI)

In 2006-07 the all groups CPI in Hobart increased by 2.5% from 2005-06. Rises in food prices (5.7%), health (4.2%) and housing (3.4%) were the main contributors to this change.

CONSUMER PRICE INDEX (all groups), Hobart

CONSUMER PRICE INDEX (selected groups), Hobart

HOUSE PRICE INDEX

The price index for established houses in Hobart in 2006-07 increased 10.0% compared to 9.1% nationally. At the same time the price index for project homes in Hobart increased 3.0% compared to 2.7% nationally.

HOUSE PRICE INDEX (established homes), Hobart

HOUSE PRICE INDEX (project homes), Hobart

HOUSING FINANCE COMMITMENTS

The number of first home buyers' houses (owner occupied) financed in Tasmania in 2006-07 decreased by 6.6% from the 2005-06 estimate of 2,200. At the same time non-first home buyers' dwellings (owner occupier) financed increased by 7.3%.

FIRST HOME BUYERS (Tasmania), Number of Dwellings Financed

NON-FIRST HOME BUYERS (Tasmania), Number of Dwellings Financed

INTERNATIONAL MERCHANDISE TRADE

In 2006-07 the value of Tasmanian goods exported overseas was $3,712.2 million, an increase of 28.3% from 2005-06. At the same time, the value of goods imported directly into Tasmania was $614.4 million, which represents an increase of 19.0% from 2005-06.

In 2006-07 the major Tasmanian export destination was Japan, buying $626.8 million worth of Tasmanian goods or 12.9% more than in 2005-06. Tasmania's major source of imports in 2006-07 was the United States of America, dispatching goods worth $78.7 million to the Tasmanian market.

Zinc was the major single export commodity in 2006-07, contributing $1,098.4 million or 29.6% to total Tasmanian exports. Also in 2006-07, power generating machinery and equipment was the highest value imported commodity representing $82.0 million or 13.3% of total imports.

VALUE OF MERCHANDISE EXPORTS, Tasmania

VALUE OF MERCHANDISE IMPORTS, Tasmania

SOURCES

Australian Industry (ABS cat. no. 8155.0)

Australian National Accounts, State Accounts (ABS cat. no. 5220.0)

Consumer Price Index, Australia (ABS cat. no. 6401.0)

Housing Finance, Australia (ABS cat. no.5609.0)

House Price Indexes, Eight Capital Cities (ABS cat. no. 6416.0)

Labour Price Index, Australia (ABS cat. no. 6345.0)

Lending Finance, Australia (ABS cat. no. 5671.0)

Private New Capital Expenditure and Expected Expenditure, Australia (ABS cat. no. 5625.0)