Gross domestic product and income [H1]

H1 GROSS DOMESTIC PRODUCT AND INCOME

The data for this table are from ABS Cat No 5206.0.

Chain volume measures are referenced to 2021/2022 values.

There is a single measure of gross domestic product, ‘GDP’. For periods in which the components of GDP do not balance, statistical discrepancies have been introduced and GDP is calculated as the average of estimates from the income, expenditure and production approaches. For years in which balanced supply-use tables are available, the annual statistical discrepancies are zero.

‘Non-farm GDP’ is GDP less gross farm output.

‘Real gross domestic income' (GDI) is calculated by adjusting gross domestic product for the effect of the terms of trade.

The 'terms of trade' data are expressed in seasonally adjusted terms. 'Terms of trade' is the implicit price deflator of exports of goods and services divided by the implicit price deflator of imports of goods and services. The index is referenced to 100.0 for the financial year 2021/2022.