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This page contains the following further information for enhancing living standards:
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GLOSSARY
Gross domestic product (GDP)
Is the total market value of goods and services produced in Australia 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. Thus gross domestic product, as here defined, is 'at market prices'. It is equivalent to gross national expenditure plus exports of goods and services less imports of goods and services. Farm product is that part of gross domestic product which arises from production in agriculture and services to agriculture. It is equivalent to the value added of ANZSIC 06 subdivision 01 'Agriculture' plus taxes less subsidies on products primary to this subdivision. Non-farm product arises from production in all other industries.
Innovation
The introduction of a new or significantly improved good or service; operational process; organisational/managerial process; or marketing method.
Innovation-active businesses
Businesses which had undertaken any innovative activity during the reference period including: introduction of any type of innovation; and/or the development or introduction either still in progress or abandoned. See Innovation.
Innovative activity
Innovative activity includes any work that was intended to, or did, result in the introduction of an innovation.
The scope of the estimates in this publication consists of all business entities in the Australian economy, except for the following sectors and industries:
- SISCA 3000 General government;
- ANZSIC06 Division O Public administration and safety;
- ANZSIC06 Division P Education and training;
- ANZSIC06 Groups 624 (Financial asset investing) and 633 (Superannuation funds);
- ANZSIC06 Groups 854 (Religious services) and 955 (Civic, professional and other interest group services);
- ANZSIC06 Subdivision 96 Private households employing staff.
Net domestic product (NDP)
Calculated as GDP less consumption of fixed capital.
Net saving - general government
The surplus of general government gross income over current use of income. Current use of income includes final consumption expenditure and current transfers (interest and other property income payable, social assistance benefits payments to residents, transfers to non-profit institutions, subsidies, etc.).
Non-financial assets
Non-financial assets are assets for which no corresponding liabilities are recorded.
Non-produced assets
Non-produced assets are non-financial assets that come into existence other than through processes of production. Non-produced assets that occur in nature is where ownership has been enforced or transferred. Environmental assets over which ownership rights have not, or cannot, be enforced, such as international waters or air space, are excluded. They consist of Natural resources (such as land, subsoil assets, native standing timber and radio spectra); Contracts, leases and licences; and Purchased goodwill and marketing assets. Purchased goodwill and marketing assets are not included in the Australian System of National Accounts. (ASNA).
Per capita
Population estimates use data published in the quarterly publication Australian Demographic Statistics (cat.no.3101.0) and ABS projections.
Produced assets
Produced assets are non-financial assets that have come into existence as outputs from production processes. Produced assets consist of fixed assets, inventories and valuables. However, valuables are not included in the ASNA.
Range of goods and services: Increased since last year
The reference period for most of the characteristics items included in the 2010-11 BCS is the year ended 30 June 2011. Financial data relate to the most recent financial year ended on or before 30 September 2011.
Real net national disposable income
Calculated by:
- taking real gross domestic income;
- deducting real incomes payable to the rest of the world;
- adding real incomes receivable from the rest of the world; and
- deducting the volume measure of consumption of fixed capital.
Real incomes payable and receivable are calculated by dividing the nominal income flows by the implicit price deflator for gross national expenditure. In the derivation of the aggregate, all of the adjustments are made using the chain volume aggregation method used to derive all of the ABS chain volume estimates.
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Click on the links below to be taken to a summary of the graphs from the corresponding tab within the enhancing living standards theme:
Overall progress?
Buying power
Government finances
Economic resources
Human resources
Innovation for change
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| OVERALL PROGRESS? |
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Real net national disposable income per capita(a) |
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Headline progress indicator | | |
Footnote:
(a) Reference year is 2010-11.
Source:
ABS Australian System of National Accounts, 2011-12 (cat. no. 5204.0) | | |
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| BUYING POWER |
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Real net national disposable income per capita(a) |
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Progress indicator | | |
Footnote:
(a) Reference year is 2010-11.
Source:
ABS Australian System of National Accounts, 2011-12 (cat. no. 5204.0) | | |
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| GOVERNMENT FINANCES |
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General government net saving to net domestic product ratio |
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Progress indicator | | ...over the longer term |
Source:
ABS Australian System of National Accounts, 2011-12 (cat. no. 5204.0) | | 
Source:
ABS Australian System of National Accounts, 2011-12 (cat. no. 5204.0) |
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| ECONOMIC RESOURCES |
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Non-financial assests per capita |
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Progress indicator | | ...over the longer term |
Source:
ABS Australian System of National Accounts, 2011-12 (cat. no. 5204.0)
ABS Australian Demographic Statistics (cat. no. 3101.0) | | 
Source:
ABS Australian System of National Accounts, 2011-12 (cat. no. 5204.0)
ABS Australian Demographic Statistics (cat. no. 3101.0) |
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| HUMAN RESOURCES |
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Labour force participation rate |
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Progress indicator | | ...over the longer term |
Source:
ABS Labour Force, Australia, Jul 2013 (cat. no. 6202.0) | | 
Source:
ABS Labour Force, Australia, Jul 2013 (cat. no. 6202.0) |
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...over the longer term by sex | | |
Source:
ABS Labour Force, Australia, Jul 2013 (cat. no. 6202.0) | | |
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| INNOVATION FOR CHANGE |
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Innovation-active businesses with range of goods or services(a) |
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Progress indicator | | |
Footnote:
(a) Businesses with range of goods or services offered increased since last year relative to Total Business Count.
Source:
ABS data available on request, Selected Characteristics of Australian Business | | |
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