Cumulative economic impact of COVID-19 on states and territories

Introduction

The COVID-19 pandemic has had a major impact on the economic growth of Australia. The ABS article “Economic gains and losses over the COVID-19 pandemic” released as part of the Australian National Accounts, June quarter 2022 estimated the cumulative impact of the pandemic on the Australian Economy, comparing it to its pre-covid trend growth. This article builds on this work, examining the impact of the COVID-19 pandemic at a state and territory level based on estimates published in Australian National Accounts: State Accounts, 2021-22 on November 18, 2022.

Method

The “pre-COVID trajectory” presented in this article has been calculated using the average of the annual growth rates from June 2014 to June 2019. This growth rate has been used to project estimates over the COVID-19 impacted period. The differences between the pre-COVID trajectory and the realised figures have been summed for June 2020, June 2021, and June 2022, to estimate the cumulative impact of the pandemic on the estimates.

Note: projections for the different components of Gross State Product (GSP) have been calculated independently from GSP itself. This means that the “pre-COVID trajectory” estimates are not additive and do not sum to the GSP “pre-COVID trajectory” estimate. As a result, the cumulative gains or losses from individual components will not sum to the cumulative gains or losses of the aggregate figures.

Analysis

The analysis below examines the components of the GSP Expenditure and Income measures, to demonstrate how the cumulative losses (and gains) differed across the different regions in the Australian economy. Household income accounts and the resultant net savings are also analysed to explore the direct economic impact of the pandemic on households at a state/territory level.

New South Wales

Gross State Product

Figure 1. NSW GSP, actual and pre-COVID-19 trajectory, chain volume measures.
	NSW GSP(A) ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	660.7	690.6
Jun-21	649.2	672.1
Jun-20	632.7	654.1
Jun-19	636.6	636.6
Jun-18	620.5
Jun-17	606.8
Jun-16	591.8
Jun-15	570.8
Jun-14	555.8
Jun-13	543.2
Jun-12	531.6

GSP Expenditure

Household Consumption

Household consumption was the major contributor to the cumulative loss in NSW’s GSP. The drivers of the fall were Hotels, cafes and restaurants and Transport services reflecting the changes in consumer behaviour as a result of lockdowns, density restrictions and border closures.

Figure 2. NSW Household consumption, actual and pre-COVID-19 trajectory, chain volume measures.
	NSW Houshold consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	354.7	385.6
Jun-21	349.3	376.3
Jun-20	344.7	367.2
Jun-19	358.4	358.4
Jun-18	353.8
Jun-17	345.0
Jun-16	337.0
Jun-15	328.1
Jun-14	317.2
Jun-13	308.9
Jun-12	303.6

Figure 2. NSW Household consumption, actual and pre-COVID-19 trajectory, chain volume measures.

["","NSW Houshold consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[354.67038100000002],[349.30694690000001],[344.7026664],[358.37082809999998],[353.81533660000002],[344.99868579999998],[336.96601829999997],[328.06308030000002],[317.24481200000002],[308.92655439999999],[303.63786370000003]],[[385.58916840000001],[376.30000000000001],[367.19999999999999],[358.39999999999998],[null],[null],[null],[null],[null],[null],[null]]]

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Capital Formation

Private capital and public capital both contributed to the cumulative loss. The impacts of restrictions on construction activity due to lockdowns and supply-chain issues due to overseas lockdowns contributed to losses across most capital components. The exceptions to this were Ownership transfer costs which had a cumulative gain over the period, reflecting the strong housing market over the last three years. Alterations and Additions also experienced a gain, in part due to the Commonwealth government HomeBuilder initiative.

Figure 3. NSW Gross fixed capital formation, actual and pre-COVID-19 trajectory, chain volume measures.
	NSW Gross fixed capital formation ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	152.6	169.5
Jun-21	147.7	162.4
Jun-20	140.6	155.7
Jun-19	149.2	149.2
Jun-18	147.4
Jun-17	140.4
Jun-16	132.9
Jun-15	125.8
Jun-14	120.7
Jun-13	119.7
Jun-12	117.2

Figure 3. NSW Gross fixed capital formation, actual and pre-COVID-19 trajectory, chain volume measures.

["","NSW Gross fixed capital formation","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[152.6392889],[147.73663830000001],[140.59541239999999],[149.17289679999999],[147.40445779999999],[140.41109969999999],[132.8619109],[125.75611189999999],[120.66324950000001],[119.6901751],[117.2115855]],[[169.4829896],[162.42294670000001],[155.65699939999999],[149.17289679999999],[null],[null],[null],[null],[null],[null],[null]]]

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Government Consumption

Government consumption partly offset the cumulative losses to GSP, driven by public spending by both the Commonwealth and New South Wales state governments. The main contributor to the cumulative gain was National non-defence expenditure on COVID-19 vaccines and personal protective equipment (PPE), while state employee expenditure was the next largest contributor reflecting the increase in frontline services required to respond to the pandemic.

Figure 4. NSW Government final consumption expenditure, actual and pre-COVID-19 trajectory, chain volume measures.
	NSW Government consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	144.7	131.7
Jun-21	134.4	126.5
Jun-20	126.1	121.4
Jun-19	116.6	116.6
Jun-18	110.6
Jun-17	107.1
Jun-16	102.3
Jun-15	97.2
Jun-14	95.1
Jun-13	93.8
Jun-12	92.6

Figure 4. NSW Government final consumption expenditure, actual and pre-COVID-19 trajectory, chain volume measures.

["","NSW Government consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[144.70362059999999],[134.35475249999999],[126.0718031],[116.55943310000001],[110.6121859],[107.07883219999999],[102.3483002],[97.18829685],[95.114334099999994],[93.759492230000006],[92.623409730000006]],[[131.710633],[126.45316390000001],[121.4055563],[116.55943310000001],[null],[null],[null],[null],[null],[null],[null]]]

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GSP Income

Compensation of Employees (COE)

COE growth in NSW has been subdued over the pandemic period as restrictions and lockdowns led to decreased demand, reduced hours worked and job losses. As reflected in the strength in government consumption, public COE was quite buoyant due to the demand for healthcare workers and other frontline services.

The recovery in COE in NSW has been below the strength observed nationally as a consequence of the lockdown the state experienced in late 2021. The cumulative loss over the pandemic period in NSW is estimated to be $26b.

Figure 5. NSW Compensation of employees, actual and pre-COVID-19 trajectory, current price values.
	NSW Compensation of employees ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	335.5	348.0
Jun-21	322.7	331.8
Jun-20	311.5	316.3
Jun-19	301.6	301.6
Jun-18	283.7
Jun-17	269.8
Jun-16	260.4
Jun-15	248.1
Jun-14	237.7
Jun-13	228.4
Jun-12	224.6

Figure 5. NSW Compensation of employees, actual and pre-COVID-19 trajectory, current price values.

["","NSW Compensation of employees","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[335.48074789999998],[322.72884690000001],[311.4658809],[301.6184394],[283.69891080000002],[269.7997805],[260.3730084],[248.09619979999999],[237.71699380000001],[228.36937169999999],[224.60921590000001]],[[347.97152599999998],[331.77864920000002],[316.33930900000001],[301.6184394],[null],[null],[null],[null],[null],[null],[null]]]

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Household income account

Gross disposable income remained on the pre-COVID trajectory through the pandemic. This was due to increases in social assistance benefits received and gross mixed income as well as falls in the interest payable on dwellings and consumer debt offsetting the subdued growth in COE. This resulted in the estimated cumulative loss based on the pre-COVID projection being minimal.

A fall in household consumption combined with on-trend growth in Gross Disposable Income resulted in NSW households accumulating $87b of savings[1] compared to the pre-COVID trajectory.

[1] Note: “savings” includes net savings plus the consumption of fixed capital

Figure 6. NSW Net savings, actual and pre-COVID-19 trajectory, current price values.
	NSW Net savings ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	101.0	73.2
Jun-21	102.9	68.6
Jun-20	89.3	64.2
Jun-19	60.1	60.1
Jun-18	51.9
Jun-17	52.3
Jun-16	49.4
Jun-15	48.3
Jun-14	43.5
Jun-13	40.0
Jun-12	44.8

Figure 6. NSW Net savings, actual and pre-COVID-19 trajectory, current price values.

["","NSW Net savings","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[100.974681],[102.85884679999999],[89.305847869999994],[60.05988344],[51.871641889999999],[52.335890929999998],[49.441017619999997],[48.264428469999999],[43.476098579999999],[40.023539190000001],[44.81101185]],[[73.248527089999996],[68.558413509999994],[64.168608559999996],[60.05988344],[null],[null],[null],[null],[null],[null],[null]]]

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Victoria

Gross State Product

Figure 7. Victoria GSP, actual and pre-COVID-19 trajectory, chain volume measures
	Victoria GSP(A) ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	500.9	523.2
Jun-21	474.3	506.6
Jun-20	475.5	490.5
Jun-19	474.9	474.9
Jun-18	460.8
Jun-17	445.9
Jun-16	429.5
Jun-15	415.4
Jun-14	404.2
Jun-13	395.5
Jun-12	391.9

GSP Expenditure

Household Consumption

Victoria suffered the largest estimated cumulative loss of household consumption expenditure of all the states and territories. This is reflective of the impact the numerous lockdowns had on household spending. Transport services, Hotels, cafes and restaurants and Other goods and services were the drivers of the loss compared to the pre-COVID projection.

Figure 8. Victoria Household consumption, actual and pre-COVID-19 trajectory, chain volume measures
	Victoria Household consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	279.9	309.6
Jun-21	262.8	300.5
Jun-20	273.3	291.6
Jun-19	283.0	283.0
Jun-18	276.4
Jun-17	266.9
Jun-16	259.2
Jun-15	250.7
Jun-14	243.7
Jun-13	237.2
Jun-12	234.7

Figure 8. Victoria Household consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","Victoria Household consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[279.88024619999999],[262.82781999999997],[273.32517940000002],[283.04399990000002],[276.42161370000002],[266.89270699999997],[259.23677420000001],[250.7212797],[243.7284061],[237.216903],[234.69000740000001]],[[309.6229864],[300.5],[291.60000000000002],[283],[null],[null],[null],[null],[null],[null],[null]]]

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Private Capital Formation

Private capital formation in Victoria also contributed to the loss in cumulative GSP. Total dwellings and non-dwelling construction were the major contributors to the fall reflecting the impact of lockdowns, capacity restrictions on building sites reducing construction activity and the inability to secure building materials due to supply-chain disruptions. Ownership transport costs increased above the pre-COVID trajectory as a result of the booming property market.

Figure 9. Victoria Private gross fixed capital formation, actual and pre-COVID-19 trajectory, chain volume measures
	Victoria Private capital formation ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	98.6	111.3
Jun-21	91.2	106.0
Jun-20	93.6	100.9
Jun-19	96.1	96.1
Jun-18	92.6
Jun-17	87.6
Jun-16	84.5
Jun-15	80.4
Jun-14	75.3
Jun-13	70.7
Jun-12	117.2

Figure 9. Victoria Private gross fixed capital formation, actual and pre-COVID-19 trajectory, chain volume measures

["","Victoria Private capital formation","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[98.585887490000005],[91.216401390000001],[93.560220569999998],[96.112519090000006],[92.617293119999999],[87.56637671],[84.502711950000005],[80.413805359999998],[75.326764729999994],[70.741433830000005],[117.2115855]],[[111.26580850000001],[106],[100.90000000000001],[96.099999999999994],[null],[null],[null],[null],[null],[null],[null]]]

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Government Consumption

Government consumption grew above the pre-COVID trajectory over the last three years, partly offsetting the overall cumulative fall in GSP. The cumulative gain in government consumption was driven by National non-defence expenditure, State and local employee expenses and State and local non-employee expenses. Expenditure on COVID-19 vaccines, personal protective equipment (PPE) as well as increased expenditure on frontline services to manage the pandemic response were all major contributors to the strength in GFCE.

Figure 10. Victoria Government consumption, actual and pre-COVID-19 trajectory, chain volume measures
	Victoria Government consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	119.9	112.1
Jun-21	112.3	106.5
Jun-20	102.6	101.2
Jun-19	96.1	96.1
Jun-18	90.2
Jun-17	85.7
Jun-16	80.4
Jun-15	76.9
Jun-14	74.4
Jun-13	72.3
Jun-12	72.3

Figure 10. Victoria Government consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","Victoria Government consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[119.9444089],[112.2954324],[102.55598430000001],[96.107061959999996],[90.163478119999994],[85.686921560000002],[80.407486019999993],[76.893517369999998],[74.424792100000005],[72.303094340000001],[72.31904308]],[[112.06475930000001],[106.4709532],[101.1563665],[96.099999999999994],[null],[null],[null],[null],[null],[null],[null]]]

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GSP Income

Compensation of Employees (COE)

COE growth in Victoria has been subdued over the pandemic period as restrictions and lockdowns led to decreased demand, reduced hours worked and job losses. As reflected in the strength in government consumption, public compensation of employees partly offset this, due to the demand for healthcare workers and other frontline services.

The recovery in COE in Victoria has been below the strength observed nationally as a consequence of the extended lockdowns the state experienced through 2020 and 2021. The cumulative loss over the pandemic period in Victoria is estimated to be $12.0b.

Figure 11. Victoria Compensation of employees, actual and pre-COVID-19 trajectory, current price values
	Victoria Consumption of employees ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	259.6	265.1
Jun-21	246.4	252.0
Jun-20	238.6	239.6
Jun-19	227.7	227.7
Jun-18	211.8
Jun-17	201.6
Jun-16	191.9
Jun-15	183.2
Jun-14	176.9
Jun-13	169.6
Jun-12	165.9

Figure 11. Victoria Compensation of employees, actual and pre-COVID-19 trajectory, current price values

["","Victoria Consumption of employees","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[259.64854070000001],[246.35131580000001],[238.64015370000001],[227.74227730000001],[211.8085068],[201.60198890000001],[191.90757009999999],[183.16397140000001],[176.9198805],[169.64163719999999],[165.89789429999999]],[[265.05884209999999],[251.9858093],[239.55755479999999],[227.74227730000001],[null],[null],[null],[null],[null],[null],[null]]]

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Household income account

Gross disposable income grew faster than its pre-COVID trajectory in Victoria, especially in the first two years of the pandemic. This was due to increases in social assistance benefits received and gross mixed income, as well as falls in interest payable on dwellings and consumer debt offsetting the below trend growth in COE. Throughout the pandemic period, Victoria gross disposable income rose $18.8b compared to pre-COVID projections.

A fall in household consumption combined with above projection growth in Gross Disposable Income resulted in Victoria households accumulating $100.7b more of savings[1] compared to their pre-COVID projection.

[1] Note: “savings” includes net savings plus the consumption of fixed capital

Figure 12. Victoria Net savings, actual and pre-COVID-19 trajectory, current price values
	Victoria Net savings ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	57.5	25.7
Jun-21	70.3	24.7
Jun-20	47.0	23.7
Jun-19	22.8	22.8
Jun-18	17.4
Jun-17	20.3
Jun-16	19.1
Jun-15	23.3
Jun-14	20.1
Jun-13	17.2
Jun-12	20.3

Figure 12. Victoria Net savings, actual and pre-COVID-19 trajectory, current price values

["","Victoria Net savings","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[57.513689509999999],[70.263273979999994],[47.029906369999999],[22.76444395],[17.419147250000002],[20.340140380000001],[19.072821919999999],[23.289274949999999],[20.082609890000001],[17.18176617],[20.29445991]],[[25.730146690000002],[24.700961400000001],[23.712942699999999],[22.76444395],[null],[null],[null],[null],[null],[null],[null]]]

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Queensland

Gross State Product

Figure 13. Queensland GSP, actual and pre-COVID-19 trajectory, chain volume measures
	Queensland GSP(A) ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	384.5	384.4
Jun-21	368.2	376.4
Jun-20	357.6	368.6
Jun-19	361.0	361.0
Jun-18	357.5
Jun-17	344.0
Jun-16	335.4
Jun-15	327.7
Jun-14	325.1
Jun-13	318.9
Jun-12	310.1

GSP Expenditure

Household Consumption

Similarly to other states, Queensland household consumption retracted strongly at the beginning of the pandemic due to the first national lockdown. Since this time, it has responded strongly and now sits above the pre-pandemic trend level. Despite this strong recovery, household consumption still contributed to the cumulative fall in GSP with the major detractors being Transport services and Hotels, cafes and restaurants.

Figure 14. Queensland Household consumption, actual and pre-COVID-19 trajectory, chain volume measures
	Queensland Household consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	216.4	214.4
Jun-21	209.3	210.3
Jun-20	198.9	206.1
Jun-19	202.1	202.1
Jun-18	198.9
Jun-17	194.0
Jun-16	189.8
Jun-15	186.5
Jun-14	183.1
Jun-13	179.3
Jun-12	175.2

Figure 14. Queensland Household consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","Queensland Household consumption","Pre-COVID-19 Trajectory"]

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Government Consumption

Queensland government consumption partly offset the cumulative loss in GSP. The increase was due to National non-defence expenditure related to the provisioning of resources to manage the pandemic.

Figure 15. Queensland Government consumption, actual and pre-COVID-19 trajectory, chain volume measures
	Queensland Government consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	95.8	92.3
Jun-21	89.5	88.2
Jun-20	86.6	84.2
Jun-19	80.4	80.4
Jun-18	77.1
Jun-17	73.7
Jun-16	69.6
Jun-15	65.7
Jun-14	64.0
Jun-13	64.0
Jun-12	64.7

Figure 15. Queensland Government consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","Queensland Government consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[95.831550960000001],[89.481228650000006],[86.646730390000002],[80.432626060000004],[77.095307770000005],[73.737211810000005],[69.634427029999998],[65.747051909999996],[63.96499318],[64.019906509999998],[64.671621610000003]],[[92.300967839999998],[88.162030900000005],[84.208691139999999],[80.432626060000004],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

International Trade

International border closures had a significant impact on Queensland’s GSP. As a major exporter of international tourism services, the state receives a significant contribution to GSP from the tourism sector. The international tourism industry also drives demand for services from industries such as Accommodation and food services and Transport services. Over the years impacted by the pandemic, international exports of services contributed an estimated $24b to the cumulative fall in GSP compared to its pre-COVID trajectory.

Figure 16. Queensland International services exports, actual and pre-COVID-19 trajectory, chain volume measures
	Queensland International exports of services ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	6.0	17.2
Jun-21	6.6	16.3
Jun-20	12.4	15.5
Jun-19	14.8	14.8
Jun-18	13.8
Jun-17	14.1
Jun-16	13.3
Jun-15	12.5
Jun-14	11.5
Jun-13	11.0
Jun-12	10.9

Figure 16. Queensland International services exports, actual and pre-COVID-19 trajectory, chain volume measures

["","Queensland International exports of services","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[6.040817315],[6.5739997629999998],[12.37325755],[14.78408056],[13.841269949999999],[14.07288995],[13.26273748],[12.522950140000001],[11.52800541],[10.95685956],[10.92583095]],[[17.193988900000001],[16.349928890000001],[15.54730414],[14.78408056],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

GSP Income

Figure 17. Queensland Compensation of employees, actual and pre-COVID-19 trajectory, current price values
	Queensland Compensation of employees ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	200.9	187.5
Jun-21	187.0	182.1
Jun-20	179.0	176.9
Jun-19	171.8	171.8
Jun-18	166.3
Jun-17	157.7
Jun-16	154.4
Jun-15	151.7
Jun-14	148.6
Jun-13	145.3
Jun-12	139.9

Household income account

Gross disposable income grew faster than its pre-COVID trend in Queensland over the pandemic. This was due to increases in social assistance benefits received, gross mixed income and compensation of employees, as well as falls in interest payable on dwellings and consumer debt. This resulted in an estimated cumulative growth of $49b in gross disposable income compared to the pre-COVID trajectory.

A fall in household consumption combined with above trend growth in Gross Disposable Income resulted in Queensland households accumulating an additional $48.3b of savings[1] compared to the pre-COVID trajectory.

[1] Note: “savings” includes net savings plus the consumption of fixed capital

Figure 18. Queensland Net savings, actual and pre-COVID-19 trajectory, current price values
	Queensland Net savings ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	58.1	38.4
Jun-21	53.4	37.4
Jun-20	49.0	36.4
Jun-19	35.4	35.4
Jun-18	35.2
Jun-17	32.0
Jun-16	31.6
Jun-15	33.0
Jun-14	31.2
Jun-13	29.4
Jun-12	32.1

 Figure 18. Queensland Net savings, actual and pre-COVID-19 trajectory, current price values

["","Queensland Net savings","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[58.106226890000002],[53.371297079999998],[48.986469589999999],[35.445924050000002],[35.228533919999997],[32.032521299999999],[31.575623409999999],[33.007903429999999],[31.229899490000001],[29.35656827],[32.065605329999997]],[[38.371837290000002],[37.370636689999998],[36.395559480000003],[35.445924050000002],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

South Australia

Gross State Product

Figure 19. South Australia GSP, actual and pre-COVID-19 trajectory, chain volume measures
	South Australia GSP(A) ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	124.3	118.8
Jun-21	118.3	117.2
Jun-20	113.0	115.6
Jun-19	114.1	114.1
Jun-18	112.8
Jun-17	110.4
Jun-16	108.4
Jun-15	107.9
Jun-14	106.7
Jun-13	106.3
Jun-12	105.6

GSP Expenditure

Household Consumption

South Australia’s household consumption experienced a fall compared to its pre-COVID trajectory, partly offsetting the cumulative gain in GSP. Other than the national lockdown experienced by all states, South Australia went into lockdown for several short periods across the pandemic. They were also subject to a number of restrictions around activities and capacity. These restrictions impacted Transport services, Hotels, cafes and restaurants and Health which were the main contributors to the cumulative fall.

Figure 20. South Australia Household consumption, actual and pre-COVID-19 trajectory, chain volume measures
	South Australia Household consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	72.5	74.3
Jun-21	69.9	72.8
Jun-20	67.8	71.3
Jun-19	69.8	69.8
Jun-18	69.0
Jun-17	67.6
Jun-16	65.7
Jun-15	64.2
Jun-14	62.9
Jun-13	62.4
Jun-12	62.4

Figure 20. South Australia Household consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","South Australia Household consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[72.505029769999993],[69.914391120000005],[67.772651229999994],[69.825446749999998],[69.015648650000003],[67.581853760000001],[65.655686000000003],[64.220525940000002],[62.905294240000003],[62.417000809999998],[62.369709039999996]],[[74.341154709999998],[72.804369089999994],[71.299352010000007],[69.825446749999998],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Government Consumption

Government consumption grew above the pre-COVID trajectory in response to the pandemic. National non-defence and State and local non-employee expenses both rose above trend, with increased expenditure on vaccines, personal protective equipment (PPE) and provisioning additional health capacity all contributing to the cumulative increase.

Figure 21. South Australia Government consumption, actual and pre-COVID-19 trajectory, chain volume measures
	South Australia Government consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	32.5	30.8
Jun-21	30.7	29.8
Jun-20	29.2	28.9
Jun-19	28.0	28.0
Jun-18	27.1
Jun-17	26.1
Jun-16	24.9
Jun-15	24.1
Jun-14	23.8
Jun-13	23.4
Jun-12	22.9

Figure 21. South Australia Government consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","South Australia Government consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[32.524558200000001],[30.659363190000001],[29.21629089],[27.973900189999998],[27.08599731],[26.082718409999998],[24.921253490000002],[24.128397029999999],[23.825936030000001],[23.40149795],[22.87419457]],[[30.807172949999998],[29.832219890000001],[28.88812111],[27.973900189999998],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

GSP Income

Figure 22. South Australia Compensation of employees, actual and pre-COVID-19 trajectory, current price values
	South Australia Compensation of employees ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	63.2	59.8
Jun-21	59.4	57.9
Jun-20	56.7	56.1
Jun-19	54.3	54.3
Jun-18	52.2
Jun-17	49.5
Jun-16	48.3
Jun-15	48.0
Jun-14	46.4
Jun-13	45.7
Jun-12	44.6

Household income account

Gross disposable income grew faster than its pre-COVID trajectory in South Australia over the pandemic. This was due to increases in social assistance benefits received, gross mixed income and compensation of employees, as well as falls in interest payable on dwellings and consumer debt. This resulted in a cumulative growth of $14.9b in gross disposable income compared to pre-COVID trajectory.

A fall in household consumption combined with above trend growth in Gross Disposable Income resulted in SA households accumulating an additional $20.1b of savings[1] compared to the pre-COVID trajectory.

[1] Note: “savings” includes net savings plus the consumption of fixed capital

Figure 23. South Australia Net savings, actual and pre-COVID-19 trajectory, current price values
	South Australia Net savings ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	16.3	9.1
Jun-21	17.1	9.2
Jun-20	14.3	9.3
Jun-19	9.3	9.3
Jun-18	9.3
Jun-17	9.1
Jun-16	9.8
Jun-15	11.1
Jun-14	9.8
Jun-13	9.1
Jun-12	9.0

Figure 23. South Australia Net savings, actual and pre-COVID-19 trajectory, current price values

["","South Australia Net savings","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[16.336936130000002],[17.063080450000001],[14.32645258],[9.3217570300000006],[9.2922752039999992],[9.1477335570000005],[9.7595908700000003],[11.10916787],[9.7969717559999996],[9.1495670520000001],[9.0354367839999998]],[[9.1479890140000002],[9.2055487570000007],[9.2634706690000002],[9.3217570300000006],[null],[null],[null],[null],[null],[null],[null]]]

[]

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[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Western Australia

Gross State Product

Western Australia’s GSP has grown stronger than its pre-COVID projection. Western Australia experienced low numbers of COVID-19 infections during 2020 and 2021, due to the COVID management protocols which included shutting their domestic border. As a result, their local economy continued operating relatively normally compared to other parts of the country. Strength in the mining sector due to high levels of international demand for iron ore was a key driver behind the strength in GSP. The cumulative gain over the pandemic period in Western Australia was estimated to be $22b compared to its pre-COVID trajectory.

Figure 24. Western Australia GSP, actual and pre-COVID-19 trajectory, chain volume measures
	Western Australia GSP(A) ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	377.3	362.7
Jun-21	365.9	358.3
Jun-20	354.1	354.0
Jun-19	349.8	349.8
Jun-18	344.4
Jun-17	336.7
Jun-16	340.2
Jun-15	336.8
Jun-14	329.5
Jun-13	311.5
Jun-12	293.8

Figure 24. Western Australia GSP, actual and pre-COVID-19 trajectory, chain volume measures

["","Western Australia GSP(A)","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[377.25743569999997],[365.90439900000001],[354.1144228],[349.78542190000002],[344.38033680000001],[336.66912830000001],[340.21383859999997],[336.84722859999999],[329.4689813],[311.508104],[293.80237149999999]],[[362.65178329999998],[358.31125209999999],[354.02267230000001],[349.78542190000002],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

GSP Expenditure

Household Consumption

Despite Household consumption levels exceeding the pre-COVID trend in 2021-22, HFCE still contributed an estimated cumulative loss to GSP. Transport services and Hotels, cafes and restaurants were the biggest detractors reflecting the impact of state and international border closures.

Figure 25. Western Australia Household consumption, actual and pre-COVID-19 trajectory, chain volume measures
	Western Australia Household consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	115.7	112.9
Jun-21	109.8	111.6
Jun-20	106.8	110.2
Jun-19	108.9	108.9
Jun-18	107.9
Jun-17	106.3
Jun-16	105.0
Jun-15	103.9
Jun-14	102.5
Jun-13	101.2
Jun-12	96.8

Figure 25. Western Australia Household consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","Western Australia Household consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[115.6811107],[109.8494704],[106.77434169999999],[108.9186144],[107.9247859],[106.2869311],[104.9686234],[103.8734599],[102.520849],[101.1578573],[96.844948400000007]],[[112.948117],[111.5886524],[110.24555049999999],[108.9186144],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Government Consumption

Government consumption in Western Australia was stronger than its pre-COVID trajectory. Most components of government consumption exceeded the pre-COVID trend with the largest gains coming though State and local employee expenses, State and local social benefits to households and National non-defence expenditure. This was driven by; increased frontline services, provisions of rapid antigen tests (RATs) to households and the supply of COVID vaccines and personal protective equipment.

Figure 26. Western Australia Government consumption, actual and pre-COVID-19 trajectory, chain volume measures
	Western Australia Government consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	50.9	45.4
Jun-21	48.2	44.5
Jun-20	45.5	43.5
Jun-19	42.6	42.6
Jun-18	42.0
Jun-17	41.6
Jun-16	40.4
Jun-15	39.1
Jun-14	38.4
Jun-13	36.8
Jun-12	36.0

Figure 26. Western Australia Government consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","Western Australia Government consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[50.939402250000001],[48.183225],[45.450754430000003],[42.633341940000001],[41.977158520000003],[41.597903629999998],[40.444096340000002],[39.075404749999997],[38.409416929999999],[36.767271389999998],[36.048638510000004]],[[45.393206489999997],[44.45395104],[43.534130240000003],[42.633341940000001],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Public Capital Formation

Public Investment outpaced its pre-COVID trajectory over the last three years. This was driven by increased investment by the State and local sector with both general government and public non-financial corporations increasing investment in various assets including roads.

Figure 27. Western Australia Public capital formation, actual and pre-COVID-19 trajectory, chain volume measures
	Western Australia Public capital formation ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	10.2	8.3
Jun-21	9.1	8.5
Jun-20	8.9	8.7
Jun-19	8.8	8.8
Jun-18	9.1
Jun-17	9.4
Jun-16	8.8
Jun-15	9.0
Jun-14	9.9
Jun-13	9.8
Jun-12	9.4

Figure 27. Western Australia Public capital formation, actual and pre-COVID-19 trajectory, chain volume measures

["","Western Australia Public capital formation","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[10.16170105],[9.1127140220000005],[8.8948707579999997],[8.834968838],[9.0939742159999994],[9.4285103879999994],[8.8280573879999995],[9.0435358289999996],[9.8514472719999997],[9.8217023240000003],[9.445160671]],[[8.3063325100000007],[8.4789332359999996],[8.6551205029999991],[8.834968838],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

GSP Income

Compensation of Employees (COE)

COE growth in Western Australia has increased above the pre-COVID trajectory, the result of remaining relatively lockdown free through the pandemic. As reflected in the strength in government consumption, public COE was quite buoyant due to the demand for healthcare workers and other frontline services. Mining, Construction, and Professional, scientific and technical services all recorded strong growth as major mining projects through Western Australia increased construction and production activity over the pandemic period.

Figure 28. Western Australia Compensation of employees, actual and pre-COVID-19 trajectory, current price values
	Western Australia Compensation of employees ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	132.1	110.0
Jun-21	121.2	110.1
Jun-20	115.6	110.3
Jun-19	110.4	110.4
Jun-18	107.4
Jun-17	104.8
Jun-16	109.3
Jun-15	110.6
Jun-14	111.3
Jun-13	107.2
Jun-12	99.1

Figure 28. Western Australia Compensation of employees, actual and pre-COVID-19 trajectory, current price values

["","Western Australia Compensation of employees","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[132.07255889999999],[121.2222374],[115.5877634],[110.415063],[107.371889],[104.8105679],[109.30065449999999],[110.5620528],[111.3176409],[107.24737930000001],[99.105460489999999]],[[109.98521599999999],[110.1283121],[110.2715943],[110.415063],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Gross operating surplus plus Gross mixed income (GOSMI)

GOSMI growth in Western Australia was very strong compared to the pre-COVID trajectory. This strength in GOSMI was driven by the Mining sector, with volumes remaining steady across the pandemic period while prices for commodities soared. Cumulatively, Western Australia’s GOSMI gained $159b compared to the pre-COVID trajectory.

Figure 29. Western Australia Gross operating surplus and gross mixed income, actual and pre-COVID-19 trajectory, current price values
	Western Australia Gross operational suplus and mixed income ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	250.9	173.6
Jun-21	230.6	168.1
Jun-20	182.4	162.8
Jun-19	157.7	157.7
Jun-18	130.4
Jun-17	126.2
Jun-16	111.0
Jun-15	122.9
Jun-14	139.6
Jun-13	122.0
Jun-12	128.4

Figure 29. Western Australia Gross operating surplus and gross mixed income, actual and pre-COVID-19 trajectory, current price values

["","Western Australia Gross operational suplus and mixed income","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[250.88962509999999],[230.5500093],[182.4001475],[157.6757479],[130.44125299999999],[126.1691769],[110.9988834],[122.9066132],[139.55378580000001],[121.9755581],[128.438514]],[[173.6192484],[168.13322669999999],[162.8205524],[157.6757479],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Household income account

Over the pandemic, gross disposable income grew faster than the pre-COVID trajectory in Western Australia. This was due very strong growth in COE, the increase in social assistance benefits received and gross mixed income as well as falls in interest payable on dwellings and consumer debt. This resulted in a cumulative growth of $54b in gross disposable income compared to pre-COVID trajectory.

A fall in household consumption combined with strong growth in Gross Disposable Income resulted in Western Australian households accumulating an additional $20b of savings[1] compared to the pre-COVID trajectory.

[1] Note: “savings” includes net savings plus the consumption of fixed capital

Figure 30. Western Australia Net savings, actual and pre-COVID-19 trajectory, current price values
	Western Australia Net savings ($b)	Pre-Covid-19 Trajectory ($b)
Jun-22	47.4	26.6
Jun-21	44.5	28.0
Jun-20	38.4	29.5
Jun-19	31.0	31.0
Jun-18	31.4
Jun-17	31.2
Jun-16	36.9
Jun-15	39.9
Jun-14	40.2
Jun-13	34.8
Jun-12	32.7

 Figure 30. Western Australia Net savings, actual and pre-COVID-19 trajectory, current price values

["","Western Australia Net savings","Pre-Covid-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[47.41623732],[44.455956989999997],[38.418645679999997],[30.971589860000002],[31.402905359999998],[31.195198999999999],[36.91838018],[39.931959120000002],[40.233145960000002],[34.751209760000002],[32.725064539999998]],[[26.637319359999999],[28.010111970000001],[29.453653419999998],[30.971589860000002],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Tasmania

Gross State Product

Figure 31. Tasmania GSP, actual and pre-COVID-19 trajectory, chain volume measures
	Tasmania GSP(A) ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	36.70143131	35.71523623
Jun-21	35.19502926	34.93066484
Jun-20	33.52094368	34.16332845
Jun-19	33.41284847	33.41284847
Jun-18	32.22588674
Jun-17	31.11872864
Jun-16	30.76261962
Jun-15	30.23545125
Jun-14	29.90998383
Jun-13	29.47413481
Jun-12	29.64356451

GSP Expenditure

Household Consumption

Tasmania’s household consumption partly offset the cumulative gain in GSP. Other than the national lockdown in March 2020, Tasmania wasn’t significantly impacted by state lockdowns like other states but was subject to various restrictions at times. These restrictions impacted various consumption categories including; Transport services, Hotels, cafes and restaurants and Other goods and services, which were the major contributors to the cumulative fall.

Figure 32. Tasmania Household consumption, actual and pre-COVID-19 trajectory, chain volume measures
	Tasmania Household consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	22.2	23.0
Jun-21	21.4	22.4
Jun-20	20.9	21.9
Jun-19	21.3	21.3
Jun-18	20.7
Jun-17	19.9
Jun-16	19.7
Jun-15	19.1
Jun-14	18.9
Jun-13	18.6
Jun-12	18.8

Figure 32. Tasmania Household consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","Tasmania Household consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[22.234198419999998],[21.445268729999999],[20.92471888],[21.33687741],[20.695921200000001],[19.860522159999999],[19.69296946],[19.069423759999999],[18.89518391],[18.639503739999999],[18.7955431]],[[22.95680063],[22.4036027],[21.863735370000001],[21.33687741],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Government Consumption

Government consumption grew above the pre-COVID trajectory in response to the pandemic. National non-defence and State and local non-employee expenses both rose above trend, with increased expenditure on vaccines, personal protective equipment (PPE) and provisioning additional health capacity all contributing to the increase.

Figure 33. Tasmania Government consumption, actual and pre-COVID-19 trajectory, chain volume measures
	Tasmania Government consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	10.9	9.8
Jun-21	10.0	9.5
Jun-20	9.3	9.1
Jun-19	8.8	8.8
Jun-18	8.2
Jun-17	8.0
Jun-16	7.6
Jun-15	7.3
Jun-14	7.2
Jun-13	7.3
Jun-12	7.3

Figure 33. Tasmania Government consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","Tasmania Government consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[10.856521130000001],[9.9636913880000009],[9.3148467159999999],[8.7582771509999997],[8.2440877169999993],[8.0142069290000002],[7.649512563],[7.3171860200000003],[7.2196769490000001],[7.2728408599999996],[7.2662061810000003]],[[9.8385404469999997],[9.4644056239999994],[9.1044982030000003],[8.7582771509999997],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Private Gross Fixed Capital Formation

Private capital formation in Tasmania experienced a cumulative fall compared to its pre-COVID trajectory. A weak result in 2019-20 was the major driver to the fall with Machinery and equipment and New engineering construction detracting from growth. However, Machinery and equipment and Dwelling investment displayed strong growth in 2020-21 due to a combination of government initiatives and the easing of COVID restrictions.

Figure 34. Tasmania Private capital formation, actual and pre-COVID-19 trajectory, chain volume measures
	Tasmania Private capital formation ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	6.0	5.9
Jun-21	5.6	5.7
Jun-20	5.1	5.5
Jun-19	5.2	5.2
Jun-18	5.0
Jun-17	4.4
Jun-16	4.5
Jun-15	4.7
Jun-14	4.3
Jun-13	4.3
Jun-12	4.9

Figure 34. Tasmania Private capital formation, actual and pre-COVID-19 trajectory, chain volume measures

["","Tasmania Private capital formation","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[6.0262317330000004],[5.5944188510000004],[5.1353273990000003],[5.2408863490000002],[5.0245593609999997],[4.3562366790000002],[4.4837736530000001],[4.7267816229999999],[4.3156220970000003],[4.2955791809999999],[4.9215733579999998]],[[5.9358119970000001],[5.6944922399999998],[5.4629833100000003],[5.2408863490000002],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

GSP Income

Figure 35. Tasmania Compensation of employees, actual and pre-COVID-19 trajectory, current price values
	Tasmania Compensation of employees ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	18.6	17.6
Jun-21	17.6	16.9
Jun-20	16.6	16.3
Jun-19	15.7	15.7
Jun-18	14.7
Jun-17	14.0
Jun-16	13.5
Jun-15	13.0
Jun-14	13.1
Jun-13	12.3
Jun-12	12.7

Household income account

Gross disposable income grew faster than the pre-COVID trajectory in Tasmania over the pandemic. This was due to strong COE growth, the increase in social assistance benefits received and gross mixed income as well as falls in interest payable on dwellings and consumer debt. This resulted in a cumulative growth of $6.8b in gross disposable income compared to the pre-COVID trajectory.

A fall in household consumption combined with significant growth in gross disposable income resulted in Tasmanian households accumulating an additional $8.2b of savings[1] compared to the pre-COVID trajectory.

[1] Note: “savings” includes net savings plus the consumption of fixed capital

Figure 36. Tasmania Net savings, actual and pre-COVID-19 trajectory, current price values
	Tasmania Net savings ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	7.3	3.7
Jun-21	6.7	3.7
Jun-20	5.3	3.7
Jun-19	3.7	3.7
Jun-18	3.5
Jun-17	3.7
Jun-16	3.8
Jun-15	3.9
Jun-14	3.7
Jun-13	3.0
Jun-12	3.3

 Figure 36. Tasmania Net savings, actual and pre-COVID-19 trajectory, current price values

["","Tasmania Net savings","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[7.2904478900000003],[6.6995007360000001],[5.3366961919999998],[3.6919177940000001],[3.4824302569999999],[3.6807835849999999],[3.7689938669999998],[3.937070173],[3.654528596],[2.968590034],[3.3278422760000002]],[[3.7307841819999998],[3.7177834679999999],[3.704828059],[3.6919177940000001],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Northern Territory

Gross State Product

Figure 37. Northern Territory GSP(A), actual and pre-COVID-19 trajectory, chain volume measures
	Northern Territory GSP(A) ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	26.1	24.6
Jun-21	24.9	24.3
Jun-20	25.2	24.1
Jun-19	23.8	23.8
Jun-18	24.1
Jun-17	23.6
Jun-16	23.3
Jun-15	22.8
Jun-14	22.5
Jun-13	22.3
Jun-12	20.8

GSP Expenditure

Household Consumption

Despite Household consumption levels exceeding the pre-COVID trajectory level in 2021-22, cumulatively over the pandemic, the difference between household consumption and the pre-COVID trajectory was minimal. Transport services and Hotels, cafes and restaurants were the biggest detractors reflecting the impact of state and international border closures.

Figure 38. Northern Territory Household consumption, actual and pre-COVID-19 trajectory, chain volume measures
	Northern Territory Household consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	11.2	10.9
Jun-21	10.9	10.8
Jun-20	10.3	10.7
Jun-19	10.7	10.7
Jun-18	11.0
Jun-17	10.9
Jun-16	10.8
Jun-15	10.3
Jun-14	10.3
Jun-13	10.3
Jun-12	9.8

Figure 38. Northern Territory Household consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","Northern Territory Household consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[11.174449660000001],[10.923943769999999],[10.2576804],[10.65034758],[10.977272640000001],[10.91678327],[10.799478880000001],[10.2729775],[10.30856674],[10.25780144],[9.8075203959999993]],[[10.87181425],[10.797485010000001],[10.72366394],[10.65034758],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Government Consumption

Government consumption in the Northern Territory was stronger than its pre-COVID projections. Most components of government consumption exceeded the pre-COVID trend with National defence, National non-defence and State and Local employee expenses experiencing gains while sales of goods and services fell. The increases were driven by military training exercises, increased expenditure on pandemic related goods and equipment and an increase in healthcare personnel and frontline services.

Figure 39. Northern Territory Government consumption, actual and pre-COVID-19 trajectory, chain volume measures
	Northern Territory Government consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	10.0	9.3
Jun-21	9.5	9.1
Jun-20	8.9	8.9
Jun-19	8.7	8.7
Jun-18	8.6
Jun-17	8.6
Jun-16	8.3
Jun-15	8.0
Jun-14	7.9
Jun-13	7.8
Jun-12	7.9

Figure 39. Northern Territory Government consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","Northern Territory Government consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[10.035307359999999],[9.4771511240000006],[8.9445421280000001],[8.7342560480000007],[8.6270300950000003],[8.5607043259999998],[8.2789961630000004],[7.9687249720000004],[7.8998871399999997],[7.780151203],[7.8686411080000003]],[[9.278971898],[9.0937263119999994],[8.9121789729999996],[8.7342560480000007],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

GSP Income

Figure 40. Northern Territory Compensation of employees, actual and pre-COVID-19 trajectory, current price values
	Northern Torritory Compensation of employees ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	12.4	13.1
Jun-21	11.7	12.7
Jun-20	11.4	12.3
Jun-19	11.9	11.9
Jun-18	12.6
Jun-17	12.0
Jun-16	11.5
Jun-15	11.1
Jun-14	10.3
Jun-13	9.7
Jun-12	9.2

Household income account

Gross disposable income fell below the pre-COVID trajectory in the first year of the pandemic, reflecting the fall in COE in the same period, but recovered above pre-COVID projections in the 2021-22 financial year. This was due the increases in social assistance benefits received and gross mixed income as well as falls in interest payable on dwellings and consumer debt offsetting the subdued growth in COE. This resulted in a cumulative fall of $380m in gross disposable income compared to pre-COVID trajectory in Northern Territory.

The weakness in Gross Disposable Income and the sustained Household consumption resulted in Northern Territory households losing $0.7b of cumulative savings[1] compared to the pre-COVID trajectory.

[1] Note: “savings” includes net savings plus the consumption of fixed capital

Figure 41. Northern Territory Net savings, actual and pre-COVID-19 trajectory, current price values
	Northern Territory Net savings ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	6.1	6.5
Jun-21	5.9	6.2
Jun-20	5.9	5.9
Jun-19	5.7	5.7
Jun-18	6.2
Jun-17	5.7
Jun-16	5.2
Jun-15	5.2
Jun-14	4.6
Jun-13	3.8
Jun-12	3.4

Figure 41. Northern Territory Net savings, actual and pre-COVID-19 trajectory, current price values

["","Northern Territory Net savings","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[6.1225587279999996],[5.9251080439999999],[5.8610468779999998],[5.6956377280000003],[6.1839212430000003],[5.7463555570000002],[5.2098581509999997],[5.1830945970000002],[4.6381440569999999],[3.7603067280000002],[3.3710992989999999]],[[6.491539285],[6.214591392],[5.9494588999999998],[5.6956377280000003],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Australian Capital Territory

Gross State Product

Figure 42. ACT GSP, actual and pre-COVID-19 trajectory, chain volume measures
	ACT GSP(A) ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	45.3	46.3
Jun-21	44.5	44.5
Jun-20	42.8	42.8
Jun-19	41.2	41.2
Jun-18	39.6
Jun-17	38.0
Jun-16	36.6
Jun-15	34.9
Jun-14	34.0
Jun-13	33.9
Jun-12	32.9

GSP Expenditure

Household Consumption

The Australian Capital Territory’s household consumption contributed to the cumulative fall in GSP. The Australian Capital Territory experienced the national lockdown in 2019-20 and the Delta lockdown in 2021-22. Both these lockdowns impacted household consumption with Transport services, Hotels, cafes and restaurants and Other goods and services being the major contributors to the cumulative fall compared to the pre-COVID trajectory.

Figure 43. ACT Household consumption, actual and pre-COVID-19 trajectory, chain volume measures
	ACT Household consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	20.2	21.8
Jun-21	20.3	21.2
Jun-20	19.6	20.6
Jun-19	20.0	20.0
Jun-18	19.5
Jun-17	18.8
Jun-16	18.3
Jun-15	17.7
Jun-14	17.3
Jun-13	17.1
Jun-12	16.7

Figure 43. ACT Household consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","ACT Household consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[20.227594679999999],[20.321236150000001],[19.616185420000001],[20.007710070000002],[19.532417559999999],[18.79962549],[18.282950280000001],[17.679294429999999],[17.278879549999999],[17.141375329999999],[16.672178299999999]],[[21.848844140000001],[21.217038909999999],[20.603503660000001],[20.007710070000002],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Government Consumption

Government consumption partly offset the cumulative losses to GSP, driven by public spending by the Commonwealth and Territory governments in response to the COVID-19 pandemic. The main contributor to the cumulative gain was National non-defence expenditure due to the high level of expenditure on personnel to manage the Commonwealth governments response to the pandemic as well as COVID-19 vaccines and personal protective equipment (PPE). State employee expenditure was the next largest contributor reflecting the increase in frontline services required to respond to the pandemic.

Figure 44. ACT Government consumption, actual and pre-COVID-19 trajectory, chain volume measures
	ACT Government consumption ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	30.5	28.1
Jun-21	29.6	27.3
Jun-20	27.4	26.5
Jun-19	25.7	25.7
Jun-18	23.7
Jun-17	23.4
Jun-16	23.0
Jun-15	22.2
Jun-14	22.3
Jun-13	22.5
Jun-12	22.4

Figure 44. ACT Government consumption, actual and pre-COVID-19 trajectory, chain volume measures

["","ACT Government consumption","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[30.484936000000001],[29.55915577],[27.366967089999999],[25.732011839999998],[23.663143779999999],[23.41542282],[23.025306189999998],[22.18954677],[22.316008879999998],[22.53861564],[22.388109369999999]],[[28.06813627],[27.26676604],[26.488275640000001],[25.732011839999998],[null],[null],[null],[null],[null],[null],[null]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":true}]

[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

GSP Income

Figure 45. ACT Compensation of employees, actual and pre-COVID-19 trajectory, current price values
	ACT Compensation of employees ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	29.6	30.2
Jun-21	28.7	28.6
Jun-20	27.5	27.2
Jun-19	25.8	25.8
Jun-18	24.5
Jun-17	23.3
Jun-16	22.1
Jun-15	20.7
Jun-14	19.8
Jun-13	19.6
Jun-12	18.1

Household income account

Gross disposable income in Australian Capital Territory rose mostly in line with the pre-COVID trajectory throughout the pandemic, reflecting the similar steady increase in COE.

While the Australian Capital Territory saw very consistent growth in gross disposable income across the pandemic period, this was partly offset by the impact of both major lockdowns on household consumption. This resulted in ACT households gaining an additional $1.7b of savings[1] compared to the pre-COVID trajectory.

[1] Note: “savings” includes net savings plus the consumption of fixed capital

Figure 46. ACT Net savings, actual and pre-COVID-19 trajectory, current price values
	ACT Net savings ($b)	Pre-COVID-19 Trajectory ($b)
Jun-22	20.0	20.1
Jun-21	19.5	18.9
Jun-20	18.9	17.8
Jun-19	16.7	16.7
Jun-18	16.0
Jun-17	15.1
Jun-16	14.6
Jun-15	13.7
Jun-14	12.3
Jun-13	12.1
Jun-12	11.4

Figure 46. ACT Net savings, actual and pre-COVID-19 trajectory, current price values

["","ACT Net savings","Pre-COVID-19 Trajectory"]

[["Jun-22","Jun-21","Jun-20","Jun-19","Jun-18","Jun-17","Jun-16","Jun-15","Jun-14","Jun-13","Jun-12"],[[20.03957248],[19.498446269999999],[18.931604010000001],[16.718587790000001],[15.9572558],[15.10669115],[14.56568918],[13.68541838],[12.30907069],[12.067783370000001],[11.425572450000001]],[[20.107666300000002],[18.907798970000002],[17.779530279999999],[16.718587790000001],[null],[null],[null],[null],[null],[null],[null]]]

[]

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Post release changes

07/02/2023 - Update to Figure 30. Western Australia Net savings, actual and pre-COVID-19 trajectory, current price values due to an error.

APA

Cumulative economic impact of COVID-19 on states and territories

APA

Introduction

Method

Analysis

New South Wales

Gross State Product

GSP Expenditure

Household Consumption

Capital Formation

Government Consumption

GSP Income

Compensation of Employees (COE)

Household income account

Victoria

Gross State Product

GSP Expenditure

Household Consumption

Private Capital Formation

Government Consumption

GSP Income

Compensation of Employees (COE)

Household income account

Queensland

Gross State Product

GSP Expenditure

Household Consumption

Government Consumption

International Trade

GSP Income

Compensation of Employees (COE)

Household income account

South Australia

Gross State Product

GSP Expenditure

Household Consumption

Government Consumption

GSP Income

Compensation of Employees (COE)

Household income account

Western Australia

Gross State Product

GSP Expenditure

Household Consumption

Government Consumption

Public Capital Formation

GSP Income

Compensation of Employees (COE)

Gross operating surplus plus Gross mixed income (GOSMI)

Household income account

Tasmania

Gross State Product

GSP Expenditure

Household Consumption

Government Consumption

Private Gross Fixed Capital Formation

GSP Income

Compensation of Employees (COE)

Household income account

Northern Territory

Gross State Product

GSP Expenditure

Household Consumption

Government Consumption

GSP Income

Compensation of Employees (COE)

Household income account

Australian Capital Territory

Gross State Product

GSP Expenditure

Household Consumption

Government Consumption

GSP Income

Compensation of Employees (COE)

Household income account

Post release changes