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Statistical appendix

Date



List of charts and tables

Charts

International economy

1. Selected international indicators 92

National accounts

2. Contributions to trend GDP growth 94

Tables

National accounts

1. Components of Gross Domestic Product 95

2. Contributions to change in Gross Domestic Product 96

3. Gross value-added by industry 97

Incomes, Costs and Prices

4. Real household income 98

5. Wages, labour costs and company income 99

6. Prices 100

7. Labour market 101

External sector

8. Current account 102

9. Australia's external liabilities 103

10. Australia's income flows 104

11. Selected economic indicators 105

Key to tables

n.a. not available

n.y.a. not yet available

.. change less than 0.05 per cent

Chart 1: Selected international indicators

Panel A: Short-term interest rates(a)

Panel A: Short-term interest rates (a)

(a) Short-term interest rates are monthly averages and are defined as follows: US - 3 month certificates of deposits, Japan - 3-month certificates of deposit, Australia - 90 day bank accepted bills and Germany - 3 month FIBOR.

Source: OECD Main Economic Indicators.

Panel B: Real output(a)

Panel B: Real output(a)

(a) Seasonally adjusted real GDP growth for each major trading partner is weighted by their respective shares of total Australian merchandise exports averaging from 1996-97 to 1998-99. The major trading partners are composed of the OECD and Asian major trading partners. Major trading partners from the OECD comprise the G7 (US, Japan, Germany, France, UK, Italy and Canada) and New Zealand. Asian major trading partners consist of South Korea, Taiwan, Hong Kong, Singapore, China, Malaysia, Indonesia, Thailand and the Philippines.

Panel C: Current account balances(a)

Panel C: Current account balances(a)

(a) Data are seasonally adjusted. Germany refers to Western Germany until June 1990, and unified Germany thereafter.

Source: Data are sourced from statistical agencies of respective countries, except for data from Germany which is sourced from the OECD Main Economic Indicators.

Panel D: Consumer price inflation(a)

Panel D: Consumer price inflation (a)

(a) The aggregate inflation rates are derived from the weighted average of inflation rates of individual trading partners, with the weights being their respective shares of Australian total merchandise trade from 1996-97 to 1998-99.

Source: Major trading partners consist of US, Japan, Germany, UK, New Zealand, Canada, South Korea, Singapore, Indonesia, Taiwan, Hong Kong, France, Italy, China, Malaysia, Thailand and the Philippines. Data for US, Japan, Germany, UK, New Zealand, Canada, South Korea, Singapore, Indonesia, Taiwan and Hong Kong are sourced from the ABS All Groups CPI (excluding housing) measure. For the rest of Australia's MTP (France, Italy, China, Malaysia, Thailand and the Philippines), the CPI are sourced from each country's respective all groups CPI series which exclude the effects of mortgage interest rate changes.

Chart 2: Contributions to trend quarterly GDP growth

(Average 1997-98 prices)

Chart 2: Contributions to trend quarterly GDP growth

Table 1: Components of Gross Domestic Product (chain volume measures)

Table 1: Components of GDP (chain volume measures)

Source: ABS Cat. No. 5206.0.

Table 2: Contributions to change in Gross Domestic Product (chain volume measures)

Table 2: Contributions in change in GDP (chain volume measures)

Source: ABS Cat. No. 5206.0.

Table 3: Gross value-added by industry (chain volume measures)

Table 3: Gross value-added by industry (chain volume measures)

Source: ABS Cat. No. 5206.0.

Table 4: Real household income(a)

Table 4: Real household income(a)

(a) Deflated by the implicit price deflator for private final consumption expenditure.

Source: ABS Cat. Nos. 5204.0 and 5206.0.

Table 5: Wages, labour costs and company income

Table 5: Wages, labour costs and company income

(a) All numbers derived from seasonally adjusted data.

(b) Ratio of nominal hourly labour costs (non-farm compensation of employees, plus payroll tax and fringe benefits tax less employment subsidies, per hour worked by non-farm wage and salary earners) to average hourly productivity (real gross non-farm product per hour worked by all employed persons).

(c) Nominal unit labour costs as defined in footnote (a) deflated by the derived implicit price deflator for gross non-farm product. (Base for index: 1998-99 = 100.0).

Compensation of employees as a share of total factor income.

Gross operating surplus of corporations as a share of total factor income.

Sources: ABS Cat. Nos. 5204.0, 5206.0 and 6302.0.

Table 6: Prices

Table 6: Prices

(a) Based on the weighted average of eight capital cities consumer price index.

(b) Quarterly figures are derived from seasonally adjusted data.

Sources: ABS Cat. Nos. 6401.0 and 5206.0.

Table 7: Labour market

Table 7: Labour market

(a) All figures refer to period averages.

Sources: ANZ Bank and ABS Cat. No. 6202.0.

Table 8: Current account

Table 8: Current account

(a) The ratio of the implicit price deflator for exports of goods and services to the implicit price deflator for imports of goods and services, 1998-99 = 100, calculated on a National Accounts basis.

Sources: ABS Cat. Nos. 5368.0, 5302.0 and 5206.0.

Table 9: Australia's external liabilities

Table 9: Australia's external liabilities

Source: ABS Cat. Nos. 5302.0 and 5206.0.

Table 10: Australia's income flows

Table 10: Australia's income flows

S
ource: ABS Cat. No. 5302.0.

Table 11: Selected economic indicators

Table 11: Selected economic indicators

(a) ABS National Accounts measure. All numbers derived from seasonally adjusted data.

(b) A discussion of these indices and detailed figures covering the period from the September quarter 1970 to the March quarter 1983 may be found in a supplement to the July 1983 Roundup of Economic Statistics titled 'International Comparisons of Relative Price and Cost Levels'.

(c) The weights used are based on a 3 year moving average of Australia's imports from the US, Japan, UK and Germany. The four countries are the source of about 45 per cent of Australia's merchandise imports. Observations are quarterly averages. A rise (fall) implies a deterioration (improvement) in Australian costs and prices relative to the four countries above after adjusting for exchange rate changes.

(d) The CPI based index is the ratio of the Australian Consumer Price Index to the weighted geometric average of the exchange rate adjusted consumer price indices of Australia's four major import sources.

(e) The GDP deflator based index is the ratio of the GDP deflator for Australia to the weighted geometric average of the exchange rate adjusted GDP deflator of Australia's four major import sources.

(f) The unit labour cost based index is the ratio of unit labour costs in the non-farm sector of the Australian economy to the weighted geometric average of the exchange rate adjusted unit labour costs in the business sector for Australia's four major import sources.

(g) Ratio of household saving to household disposable income.

(h) Quarterly data are seasonally adjusted except for the trade weighted index and the nominal exchange rate.

(i) Period Average, May 1970 = 100.

Sources: ABS Cat. Nos. 5206.0 and 5302.0.