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The gross domestic product account indicates changes in Australian production over time. Tables 29.5 and 29.6 show the gross domestic product account in current prices for a number of years between 1965-66 and 1999-2000; table 29.5 shows a series of snapshots at five-yearly intervals to 1990-91, while table 29.6 shows annual time series from 1991-92 to 1999-2000. Table 29.7 shows expenditure on GDP in real or chain volume terms.

In real terms (i.e. after the effects of price change are removed from the dollar value of Australia's production), there was a fall in production during the 1990-91 financial year. However, the nine years since the recession in 1990-91 have all shown growth in GDP. Although growth in 1991-92 was relatively low (0.4%), by 1994-95 it had accelerated to 4.5%, a growth rate which has generally been maintained since, except for a slowing in 1996-97.

29.5 DOMESTIC PRODUCTION ACCOUNT, Current Prices - Five-Yearly
	1965-66 $m	1970-71 $m	1975-76 $m	1980-81 $m	1985-86 $m	1990-91 $m
Final consumption expenditure
- General government	3,089	5,498	15,177	27,374	50,249	74,776
- Households	13,401	21,011	44,681	82,877	143,070	232,411
- Total final consumption expenditure	16,490	26,509	59,858	110,251	193,319	307,187
Gross fixed capital formation
- Private	4,284	7,353	12,450	27,996	44,699	65,950
- Public	2,005	2,838	6,478	9,789	19,039	23,041
- Total gross fixed capital formation	6,289	10,191	18,928	37,785	63,738	88,991
Changes in inventories	84	586	180	406	833	-1,530
Gross national expenditure	22,863	37,286	78,966	148,442	257,890	394,649
Exports of goods and services	3,136	5,086	11,225	22,604	38,948	66,259
less Imports of goods and services	3,683	5,214	11,163	25,530	47,199	66,948
Statistical discrepancy (expenditure-based)	107	12	-185	-504	-1,805	2,724
Gross domestic product	22,423	37,170	78,843	145,012	247,834	396,684
Compensation of employees	11,329	19,320	43,919	75,044	123,434	191,491
Gross operating surplus	5,131	9,253	17,359	36,267	68,950	118,891
Gross mixed income	3,919	5,421	9,867	18,745	27,578	40,847
Total factor income	20,379	33,994	71,145	130,056	219,962	351,229
Taxes less subsidies on production and imports	2,087	3,163	7,872	14,733	27,801	43,357
Statistical discrepancy (income-based)	-43	13	-174	223	71	2,098
Gross domestic product	22,423	37,170	78,843	145,012	247,834	396,684
Source: Australian System of National Accounts (5204.0).

29.6 GROSS DOMESTIC PRODUCT ACCOUNT, Current Prices - Annual
	1991-92 $m	1992-93 $m	1993-94 $m	1994-95 $m	1995-96 $m	1996-97 $m	1997-98 $m	1998-99 $m	1999-2000 $m
Final consumption expenditure
- General government	79,729	82,877	85,010	88,021	93,362	96,226	101,291	108,733	117,773
- Households	244,211	255,330	266,278	282,800	301,776	315,235	335,049	353,757	373,313
- Total final consumption expenditure	323,940	338,207	351,288	370,821	395,138	411,461	436,340	462,490	491,086
Gross fixed capital formation
- Private	62,100	69,850	77,476	86,794	90,254	97,544	111,592	117,535	127,493
- Public	22,747	22,193	21,465	23,858	23,403	22,575	20,769	24,695	23,611
- Total gross fixed capital formation	84,847	92,044	98,941	110,652	113,657	120,119	132,361	142,230	151,103
Changes in inventories	-2,414	312	1,799	1,908	163	-980	690	5,307	2,062
Gross national expenditure	406,372	430,562	452,028	483,381	508,958	530,600	569,391	610,027	644,251
Exports of goods and services	70,080	76,899	83,015	87,654	99,095	105,160	113,744	111,843	125,774
less Imports of goods and services	69,269	79,077	85,396	97,654	101,078	103,590	118,482	126,453	140,954
Statistical discrepancy (expenditure-based)	-1,222	-1,638	-231	-	-	-	-	-	2,739
Gross domestic product	405,961	426,746	449,416	473,381	506,975	532,170	564,653	595,417	631,810
Compensation of employees	194,718	201,085	210,744	225,462	240,835	257,193	268,646	286,761	303,134
Gross operating surplus	124,536	133,602	141,949	148,066	158,161	164,150	178,091	182,585	197,430
Gross mixed income	40,482	43,437	44,094	45,104	49,228	49,384	53,016	55,715	59,485
Total factor income	359,736	378,124	396,787	418,632	448,224	470,727	499,753	525,061	560,048
Taxes less subsidies on production and imports	42,751	44,181	49,424	54,749	58,751	61,443	64,900	70,356	72,093
Statistical discrepancy (income-based)	3,474	4,441	3,205	-	-	-	-	-	-331
Gross domestic product	405,961	426,746	449,416	473,381	506,975	532,170	564,653	595,417	631,810
Source: Australian System of National Accounts (5204.0).

29.7 EXPENDITURE ON GDP, Chain Volume Measures(a) - Annual
	1991-92 $m	1992-93 $m	1993-94 $m	1994-95 $m	1995-96 $m	1996-97 $m	1997-98 $m	1998-99 $m	1999-2000 $m
Final consumption expenditure
- General government	90,026	91,144	92,554	95,243	99,061	100,285	103,644	108,733	115,556
- Households	273,059	278,871	285,547	300,310	312,909	321,383	336,880	353,757	369,517
- Total final consumption expenditure	363,012	369,946	378,035	395,507	411,922	421,643	440,523	462,490	485,073
Gross fixed capital formation
- Private	64,512	70,770	77,213	86,388	88,984	98,977	112,814	117,535	127,282
- Public	22,257	21,677	21,001	23,502	22,963	22,553	20,695	24,696	23,830
- Total gross fixed capital formation	88,183	93,817	99,583	111,416	113,486	122,909	134,420	142,230	151,112
Domestic final demand	448,913	461,674	475,688	505,274	523,579	543,187	574,049	604,720	636,185
Changes in inventories	-2,657	755	1,467	3,024	331	-908	697	5,307	2,379
Gross national expenditure	445,180	461,315	476,446	507,126	523,830	542,294	574,922	610,027	638,564
Exports of goods and services	70,784	75,514	82,845	86,879	95,837	105,850	109,749	111,843	122,365
less Imports of goods and services	72,822	77,402	82,583	96,250	100,091	109,916	120,528	126,453	142,630
Statistical discrepancy (expenditure-based)	-1,336	-1,766	-251	-	-	-	-	-	2,663
Gross domestic product	442,021	457,984	476,986	498,550	520,261	539,088	565,126	595,417	620,963
(a) Reference year for chain volume measures is 1998-99.
Source: Australian System of National Accounts (5204.0).