14
NATIONAL INCOME AND EXPENDITURE 1986-87 BUDGET RELATED PAPER No. 2
NATIONAL INCOME AND EXPENDITURE 1986-87
BUDGET RELATED PAPER No. 2
1987-88 BUDGET PAPERS
Budget Speech
No. I Budget Statements 1987-88 Contains detailed information on the Budget figuring and measures, an historical perspetth·e and explanatory material on the broader economic context.
No. 2 The Commonwealth Public Account 1987-88 Contains information relating to the Consolidated Revenue Fund (including the Appropriation Bills Nos I and 2 and Appropriation (Parliamentary Departments) Bill), the Loan Fund and the Trust Fund.
No. 3 Portfolio Program Estimates 1987-88 Presents information on appropriations and outlays for each portfolio in program format, along with information on staffing and on certain 'one-line' budget dependent agencies.
No. 4 Commonwealth Financial Relations with other levels of Government 1987-88
Provides information on funds for the States, the Northern Territory and local government including Commonwealth assistance, Loan Council borrowings and borrowing by semi-government and local authorities under the Loan Council arrangeme1lts.
1987-88 BUDGET RELATED PAPERS
No. I Government Securities on Issue at 30 June 1987 Provides data on the structure and movement of securities of the Commonwealth, the States and the Northern Territory.
No. 2 National Income and Expenditure 1986-87 Gives estimates of gross domestic product, gross national expenditure and national income for the last five years.
No. 3 Indome Tax Statistics Contains a summary of certain income tax data for the income years 1984-85 and 1985-86.
No. 4 Australia's Overseas Aid Program 1987-88 Details Australia's overseas aid. programs.
No. 5 Commonwealth Capital Works Program 1987-88 Contains details of all budget-funded capital works.
No. 6 Women's Budget Statement 1987-88 An assessment of the impact on women of the 1987-88 Budget.
No. 7 Australian Capital Territory Budget 1987-88 Contains details of payments and receipts for territorial and municipal works and services in the ACT.
No. 8 Portfolio Explanatory Notes 18 Volumes- Containing explanation of outlays 1986·87 and estimated outlays 1987-88 for each portfolio.
No. 9 Skills Formation in Australia Outlines new directions and priorities for skills formation, employment and training in 1987~88
Report of the Auditor-General A report on the Financial Statements prepared by the Minister for Finance for the year ended 30 June 1987. (This document is released post-Budget).
1987-88 BUDGET RELATED PAPER No. 2
NATIONAL INCOME AND EXPENDITURE 1986-87
Catalogue No. 5213.0
IAN CASTLES
AUSTRALIAN STATISTICIAN
AUSTRALIAN BUREAU OF STATISTICS
CANBERRA, AUSTRALIA
o Commonwealth of Australia 1987
Printed by c. J. THOMPSON, Commonwealth Government Printer, Canberra
INQUIRIES If you want to know more about these statistics ring Mr Barry Haydon on Canberra 52 6713 for information on current price data, or Mr Charles Aspden on Canberra 52 6711 for information on constant price data and implicit price defiators, or write to Information Services, ABS, P.O. Box 10, Belconnen, A.C.T. 2616
FOREWORD ...... .
NOTES ON THE EsTIMATES
SUMMARY TABLES
CONTENTS
t. Domestic Production Account . . . . . . . . . . . . . . .
2. Expenditure on Gross Domestic Product at Average 1979-80 Prices
3. Implicit Price Deflators. . . • . . .
4. National Income and Outlay Account . . . . • . . . . . . .
5. National Capital Account . . . . . . . . . . . . . . . . .
6. Gross Fixed Capital Expenditure and Increase in Stocks at Average 1979-80 Prices • . . . . . . . . . . • . . . . .
7. Overseas. Transactions Account. . . . . . . . . . . .
8. Corporate Trading Enterprises Income and Outlay Account.
\9. Financial Enterprises Income and Outlay Account
10. Increase in Stocks .
t 1. Fann Income . . . . . . . . , .
HOUSEHOLD TABLES
12. Private Final Consumption Expenditure
10
10
II
II
12
12
13
13. Private Final Consumption Expenditure at Average 1979-80 Prices 13
J4. Households Income and Outlay Account . 14
I 5. Household Disposable Income • . . . . . . . 14
PUBLIC AUTHORITIES TABLES
I 6. General Government Income and Outlay Account 15
17. Commonwealth General Government Income and Outlay Account 15
18. State and Local General Government Income and Outlay Account 16
19. Public Trading Enterprises Income and Outlay Account . . . . . 16
20. Commonwealth, Public Trading Enterprises Income and Outlay Account. . . . . . . . . . . . . . . . . . . . . . . 17
21. State and Local Public Trading Enterprises Income and Outlay Account ................. .
22. General Government Capital Account . . . . . . .
23. Commonwealth General Government Capital Account
17
18
19
24. State and Local General Government Capital Account . .
25. Public Trading Enterprises Capital Account. . , . . . .
26. Commonwealth Public Trading Enterprises Cllpital Account
27. State and local Public Trading Enterprises Capital Account
2
20
20
21
21
i'
FOREWORD
This Paper gives estimates of gross domestic product, gross national expenditure and national income for the five years 1982-83 to 1986-87. It is part of a regular sequence of national accounts publications in which the first estimates for the year just completed are successively revised and additional detailed tables are issued as further information becomes available. The cycle normally begins in August with this Paper which gives preliminary estimates for the year just completed and revised estimates for the previous four years. The June quarter issue of Quarterly Estimates of National Income and Expenditure, Australia (5206.0) is normally released concurrently but was released on 26 August this year. The data presented in this Paper are consistent with the estimates published in that issue of 5206.0.
Concepts, definitions, sources and, methods A basic guide to the Australian national accounts entitled Australian National Accounts,
Concepts, Sources and Methods (5216.0) was released early in 1982. It outlines major concepts and definitions, describes sources of data and methods used to derive annual and quarterly estimates for major aggregates at current and constant prices and discusses the accuracy and reliability of the national accounts. The concepts, definitions, sources and methods applicabJe to the estimates contained in this publication are as described in 5216.0 but with the changes outlined below and in Appendix A, Australian National Accounts, National Income and Expenditure, J 985-86 (5204.0).
Changes in this issue From the December quarter 1986 issue of 5206.0, a distinction has been made between general
government current and capital expenditure on roads. Previously, all expenditure on roads by general government had been classified to capital expenditure. The initial estimates for repair and maintenance on roads were based on data from 'Australian Road Financing Statistics' (Bureau of Transport Economics, Information Paper 18). In this paper this interim data source has been replaced by more detailed government finance statistics. However, only relatively minor revisions were necessary to relevant aggregates.
There has been a change in the treatment of payroll taxes paid by general government. Since the December quarter 1984 issue of 5206.0, receipts of these taxes were treated as indirect taxes received and payments were treated as government final consumption expenditure. However, in line with international statistical standards, these transactions are now regarded as transfers within the general government sector which should be netted out on consolidation when compiling the general government income and outlay account. As a result of this change, both genera) government final consumption expenditure and general government payroll tax receipts have been reduced by the amount of payroll tax paid by general government.
In addition, a new item has been included within the Commonwealth and State and local general government income and outlay accounts (Tables 17 and 18). Titled 'intergovernmental transfers', the item represents transfers between levels of government (and presently relates solely to fringe benefits taxes). Such transfers do not appear in Table 16 as they are netted out on consolidation.
Reliability and revisions Estimates of national income and expenditure have been prepared from a wide range of
statistical sources, some of which are available quickly and some only with a delay of several years. Therefore estimates for recent years, and especially for 1986-87, may be subject to considerable revision as firmer data come to hand. For example, because tabulations of company income tax statistics do not become available until about two years after the end of each financial year, estimates of income and depreciation for companies and therefore the estimates of gross non-farm product are subject to substantial revisions for the two most recent years.
The statistical discrepancy shown in the tables represents the difference between estimates of gross domestic product plus imports and gross national expenditure plus exports. The inclusion of the statistical discrepancy on the expenditure side of the domestic production account is a convention and does not necessarily imply that the sum of the income components more accurately measures GDP than the sum of the expenditure component• (plus exports less imports).
Related publications As well as the publications referred to above other national accounts publications. produced by the ABS which may be of interest are: Australian National Accounts, National Income and Expenditure, Summary (5201.0) Hi'storical Series of Estimates of National Income and Expenditure. Australia (5207.0) Australian National Accounts, Input-Output Tables (5209.0) Australian National Accounts, Gross Product by Industry (5211.0) Australian National Accounts, State Accounts (5220.0) Australian National Accounts, Estimates of Capital Stock (5221.0)
Symbols and other usages n.a. not available n.p. not publishable •. means nil or less than half the final digit shown - not applicable Any discrepancies between totals and sums of components in the tables are due to rounding.
4
NOTES ON THE ESTIMATES
The estimates in both current and constant prices, for recent years and especially for 1986-87, may be substantially revised as firmer data come to hand and should therefore be regarded as preliminary. This applies particularly to the estimates of gross operating surplus, the income of companies and non-farm unincorporated enterprises. and depreciation, and therefore to the estimated magnitude of change in gross non-farm product in 1986-87.
PERCENTAGE CHANGE IN GROSS DOMESTIC PRODUCT ANO ITS MAJOR COMPONENTS
At current prices Atavcragcl979-80prices (per c~nt) (percent)
1984-85 1985-86 1986-87 1984-85 1985-86 1986-87
Fi11a\cons1.1mptioncxpcnditurc-Private,, ...•. 10.1 11.7 10.2 "' 2.8 o.s Oovcrnmcnt. 12.4 J!.8 8.5 6.J 4.7 J.7
OtoufixWcapital'cxPcnditu;c 14.4 13.7 8.3 7.4 l.9 -1.7 Grossmlli-Ona!cxpendilutc • 126 12.7 8.8 5.1 3.J -0.3 Exportsl)fgoodsandservices 21.9 11.5 11.9 13.8 6.S 1.5 lmportsorgoodsandservices 26.8 16.3 4.S 15.3 O.l -4.8 Gross domestic product 11.7 11.8 \0.1 5.3 4,5 2.0 Gross form product . -0.2 10.2 2.3 -1.5 2.8 Gross non.farm product 12.3 12.4 10.1 5.S 4.9 1.9 WaBes, salaries a11d supplements . 10.5 10.0 9.1 Gross operating surplus-
Trading enterprises-Compani« .•. , , 16.0 !J.4 9.J Other • ... , . , 11.8 15.7 13.9
Tolallradingcntcrprises . 13.3 14.9 12.3 Total gross operating surplus 12.3 14.6 12.1
lndirccttucslesssubsidies. 14.8 11.0 7.7
The following comments on significant source data and methodological matters are provided to aid analysis of the estimates for recent years.
Statistical Discrepancy
As mentioned in the foreword, the inclusion of the statistical discrepancy on the expenditure side of the domestic production account is a convention. However, the increasing magnitude of the statistical discrepancy in recent years is of concern. As a proportion of gross domestic product at constant prices it has risen from -0.3 per cent in 1983-84 to 1.6 per cent in 1986-87. While there may be many factors contributing to this phenomenon, there is evidence to suggest that the 'expenditure based' estimates for recent years are underestimated. In particular, preliminary indications from the 1985-86 Retail Census suggest that certain components of private final consumption expenditure will be revised upwards when final Retail Census data become available later this year. The Retail Census is usually conducted at S or 6 yearly intervals. It is the major data source for the compilation of benchmark estimates for particular components of private final consumption expenditure which comprise approximately SO per cent of the total aggregate. Preliminary Retail Census results will shortly be released in Retail Industry: Summary of Operations, Australia 1985-86, Preliminary (8613.0). These results will indicate that retail sales have grown to a higher level than previously indicated by the Retail Survey. As the previous Retail Census was conducted in respect of 1979-80, revisions to private final consumption expenditure may be required from 1980-81.
Household consumption and household saving ratios
Present estimates indicate that the proportion of household disposable income devoted to consumption in 1986-87 was 90.7 per cent, while household saving, which is derived as a balancing item, represented 9.3 per cent. Both of these ratios are affected by any deficiencies in the estimation of the components of household income and expenditure. These ratios for the past five years are presented in the following table.
1982~83 1983-84 1984-SS 1985-86 1986-87
percent percent percent percent pcrccnt
Household consumption ratio 90.6 88.6 88.9 89.2 90.7 Holl5Choldsavingmtio .• 9.4 11.4 II.I 10.8 9.3
I' I
Table I-Domestic Production Account ($ million)
1982-83 1983-84 1984-85 1985-86 1986-87
Final consumplion expenditure-Private , , , , ••• , 104435 115315 127013 141919 156422 Government. 32432 35996 40462 45219 49068
Gross fixed capitai c~pc~diiur~-Private ••••. 27131 28990 34235 38189 41354 Public enterprises . 8618 8825 8874 10528 11249 General government: 4560 5189 6072 7213 7994
Increase in stocks(a). -2457 1411 1027 1312 -1252 Statistical discrepancy -965 -696 1921 3067 4390
Gross national expenditure 173754 195030 219604 247447 269225 Exports or goods and services . . 24685 28010 34 146 38015 426f0
National turnover of goods and services 198439 233040 253750 285522 3ll 836 Uss Imports of goods and services • , . . 28518 30764 39015 45386 47435
Expenditure on gross domestic product 169921 192276 214735 240136 264400
Wages, salaries and supplements • 93423 98943 109380 120292 131 272 Gross operating surplus-
Trading entcrprises(a)-Companies , • . • • . 18859 24599 28 544 32363 35371 Unincorporated , 17591 22666 23902 26794 29291 Dwellings owned b). ,,;rsiW: 14318 16825 19841 23748 28547 Public •..•.•.• 5309 6454 7610 8870 9813
General Government . 4126 4422 4744 5287 5829 Financial enterprises. 1201 1136 643 -378 -19 Uss Imputed bank scrvi~ Cha;ge: 4281 5182 5648 5391 6467
Gross domestic product at factor cost . 150546 169863 1890!6 211 585 233637 Indirect taxes less subsidies. , 19375 22413 25719 28551 30763
Gross domestic product 169921 192276 214 735 240136 264400
Gross farm product . 5581 9038 9035 9020 9938 Gross non·rann product: 164340 183238 205700 231116 254462
(a) The National Accounts concept of production docs not include any holding gains associated with the cffeclS of inHation on the value of stocks held. The estimates of Increase in Stocks and Gross Operating Surplus-Trading Enterprises shown above are after deduction of the following Stock Valuation Adjustments-Companies . . . . . . • . • • . . . . • • 2288 1396 2124 I 852 3021 Unincorporated. 363 271 156 75 628 Public. -43 65 175 l5 163
Total 2608 1732 2455 1942 3812
Table 2-Expenditure on Gross Domestic Product at Average 1979-80 Prices ($ million)
1982-83 1983-84 1984-85 1985-86 1986-87
Final consumption expenditure-78241 Private . , , , , , , , 80077 82858 85208 85592
Government. 22990 24044 25520 26710 27162 Gross fixed capitai e~pe~dilur~-·
Private , , , , , , • , .Wl94 20360 22586 22428 21841 Public •.•. 9247 9301 9275 !0032 l0070
Increase in stocks. -1 777 J 303 726 690 -668 Statistical discrcpancY -680 -464 1302 1862 2425
Gross national expenditure !28215 134621 142267 146930 146422 Exports of goods and services . . . 20990 22543 25650 27311 29364 Uss Imports or goods and services • 23189 24540 28286 28 308 26963
Expenditure on gross domestic product 126016 132624 139631 145933 148823
Gross farm product , 6133 8444 8635 8509 8746 Gross non.farm product: 119883 124180 130996 137424 140077
7
Table 3-lmpllcil Price DeOators
Implicit Price Deflators (1979-80-100.0)
Final consumption cxpenditurcPrivatc Government. , , .••
Gross fixed capital cxpcnditurc-Privatc-
Dwellings ..• • •.• Non-dwelling construction . Equipment , . . , • , Real estate transfer expenses
Total private . Public enterprises. General government •
Domestic final demand .
Gross national expenditure. Exports of goods and services . Imports of goods and services • Expenditure on gross domestic product . Gross farm product • • Gross non-fann product.
Percentage Change rrom Preceding Year
Final consumption expcnditurePrivate Government ••....
Gross fixed capital expcnditurc-Private-
Dwellings. , .•... Non-dwelling construction • Equipment , . . . . . Real estate transrcr expenses
Total private. Public enterprises. General government •
Domestic final demand . Gross national expenditure. Exports or goods and services . Imports of goods and services. Expenditure on gross domestic product . Gross farm product • Gross non-farm product,
1982-83 1983-84 1984-85 1985-86 1986-87
133.5 141.1
138.5 143.9 129.4 131.9 134.4 141.3 144.9 135.6 135.5 117.6 123.0 134.8 91.0
137,J
11.3 10.8
9.9 13.7 9.9
-2.1 9.8
13.1 14.l II.I 11.1 6.9 8.9
10.7 -5.2 11.0
144.0 149.7
144.9 ISi.i 139.1 140,I 142.4 148.4 154.7 145.2 144.9 124.3 125.4 145.0 107.0 147.6
7.9 6.1
4.6 5.0 1.5 6.2 6.0 5.0 6.8 7.1 6.9 5.1 2.0 7.6
17.6 7.7
153.3 158.6
IS5.6 161.3 145.6 159.3 JSJ.6 160.0 162.8 IS4.5 154.4 133.1 137.9 153.8 104.6 157.0
6.5 5.9
7.4 6.8 4.7
13.7 6.5 7.8 5.2 6.4 6.6 7.1
J0.0 6.1
-2.2 6.4
166.6 169.3
169.3 180.4 166.1 179.7 170.3 175.3 179.2 168.4 168.4 139.4 160.3 164.6 106.0 1682
8.7 6.7
8.8 11.8 14.1 12.8 12.3 9.6
10.1 9.0 9.1 4.7
16.2 7.0 1.3 7.1
182.8 ISo.6
180.6 195.9 IS9.6 204.7 189.3 189.9 192.9 183.9 183.9 14.S.J 175.9 177.7 113.6 Ui.7
9.7 6.7
6.7 8.6
J4.l 13.9 11.2 8.3 7.6 9.2 9.2 4.1 9.7 8.0 7.2 8.0
Table 4-National Income and Outlay Account ($ million)
1982-83 1983-84 1984-85 1985-86 1986-87
Wages, salaries and supplements , Net operating surplus , • , ,
Domestic factor incomes . . Uss Net income paid overseas (a) , Indirect taxes ... , •..• UssSubsidics.
National income • • • . • , . less Net unrequited transfers to overseas .
National disposable income
Final consumption expcnditurc-Private •••••.•. Government. Saving
Disposal of income .
93423 29127
122550 3687
22420 3045
138238 95
138143
104435 32432
1276
138143
98943 40267
139210 4575
25660 3247
157048 -238
157286
115315 35996 5915
151286
109380 45883
ISS 263 6291
29379 3660
174691 -362
175053
127013 40462 7578
175053
(a) Includes property income, labour income and extraordinary insurance claims from overseas.
Table 5-National Capital Account ($ million)
Consumption or fixed capital . . , Saving-
lncrcasc in income tax provisions . Undistributed incomc-
Trading enterprises. Financial enterprises ..••
Household saving • • . • • • • . . , . . General government surplus on current transaclions • Extraordinary insurance claims paid . . • • • •
Finance of gross accumulation
Gross fixed capital expcnditurc-Private-
Owc\ling5 •••••. Non-dwelling construction Equipment . • . • • • Real estate transfer expenses
Public enterprises. , General government .
Total gross fixed capital expenditure
Increase in slocksPrivate non-rarm • Farm •••••.•. Public marketing authorities Other public authorities .
Total increase in stocks
Statistical discrepancy . Net lending to overseas •
Gross accumulation .
1982-83
27996
-240
-6338 -39
!0808 -3 IJ5
200
29272
7712 4674
13283 1462 8618 4560
40309
-2249 -282 -213
287 -2457
-965 -7615
29272
1983-84
30653
I 103
-3884 -515
14799 -5528
36628
8708 3751
14457 2074 8825 5189
1984-85
33753
580
-32JI -1255 15885
-4421
41331
10456 4798
16485 2496 8874 6072
43004 49181
-373 I 066 530 -121
1165 -6 89 88
I 411 1027
-696 1921 -7091 -10798
36628 41 331
120292 52592
172884 7173
32371 3820
193662 -832
194494
141919 45219
7356
194494
131272 58698
189970 10156 34708 3945
210577 -1348
211925
156422 49068
6435
211925
1985-86 1986-87
38701 43667
514 (•)457
-3819 {a)-6441 -2387 {a)-1479 17180 16043
-4132 -2145
46057 50 102
11319 10795 6589 8229
17740 19462 2541 2868
10528 ti 249 7213 7994
55930 60 597
1821 -945 -164 47 -486 -601
141 247 I 312 -1252
3067 4 390 -14252 -13633
46057 so !02
(a) These estimates arc based on the assumption that the standard company income tax rate ror 1986-87 will be 49 per cent.
9
Table 6-Gross Fixed Capital Expenditure and Increase in Stocks at Average 1979·80 Prices ($million)
Gross fixed capital cxpcnditure-Privatc-
Dwellings, • , . , . Non-dwelling construction Equipment ..• , • Real estate transfer expenses
Public-Total private.
Public enterprises • General government
Tola! public .
Tola!
Increase in stocksPrivate non.farm Farm, .• , , . , . Public marketing aulhorilks Other public authorities •
Total
Table ?-Overseas Transactions Account ($ million)
Imports of goods and services . Interest, etc., to overseas Dividends to overseas , . Labour income to overseas. . , . Unrequited transfers to overseas-Pe~onal .• , •• , . , , General government •
Ne! lending to overseas •
Use of current receipts
Exports of goods and services . Jntercsl, etc., from overseas Dividends from overseas . , Labour income from overseas • Extraordinary insurance claims , • Unrequited transfers from overseas-
Persona!, •••••.•. Income taxes
Current rei:eipts from overseas ,
IO
1982-83 1983-84 1984-85 1985-86 1986-87
5 510 6008 6 721 6 684 5 976 1• 2m 2m 1m 4~
to 268 10 390 II 324 10 678 10 263 1108 1480 1567 1414 1401
20 194 20 360 22 586 22 428 21 841
6 JOI 5947 5546 6007 5925 1~ 1~ 1m 4m 4m 9247 9301 9275 10032 10010
29441 29661 31 861 32460 31911
-1674 -121 -195
213
-1777
1982-83
28518 3503 1233
135
622 807
-7615
27203
24685 730 216 158 80
920 414
-262 320
1183 62
I 303
1983-84
30764 4424 1493
155
692 856
-7091
31293
28010 1004
248 170 15
1320 466
195 J l42 -89 -118 -38 -423
58 89
726
1984-85
39015 6095 1617
165
104 950
-10798
37748
34146 1176
201 209
1418 598
690
1985-86
45 386 7807 1466
196
720 980
-14252
42303
38075 I Ol5
468 213
1'820 712
-435 29
-407 145
-668
1986-87
41435 9505 2187
253
746 947
-13633
47440
42610 I 098
457 234
2227 814
27 203 31 293 37 748 42 303 47 44Q
Table 8-Corporate Trading Enterprises(a) Income and Outlay Account ($ million)
1982-83 1983-84 1984-85 1985-86 1986-87
Net operating surplus lnlerest, etc., received Dividends received , . , • • , , , , Extraordinary insurance claims from overseas,
Receipts
lntercst,etc., paid , •••• , , , Third party insurance transfers to persons . Current grants to non-profit institutions Income-
Jncome tax payable • Dividends paid{b). • Undistributed income.
Disbursements
(a) Including public enterprises.
10868 2279
282
13429
12534 461 92
3735 2945
-6338
13429
(b) Includes income transferred to general government by public enterprises.
16393 2375
318 75
19161
14108 679 !OS
4479 3674
-3884
19161
20020 3049
268
23 337
16514 848 114
4925 4147
-3211
23337
Table 9-Financial Enterprises(a) Income and Outlay Account ($ million)
22710 4051
554
27 315
20036 998 131
5383 4586
-3819
27 315
24307 4 726
525
29558
23108 1287
145
5764 5695
-6441
29558
1982-83 1983-84 1984-85 1985-86 1986-87
Net operating surplus , , , , 185 l.Lss Imputed bank service charac 4 281 Interest, etc., received • , • • 20545 Dividends received • , , , • , • • , 907 Extraordinary insurance claims from ovmcas. 80
11 5182
22208 1131
-644 5643
25636 1424
-1879 5391
33515 1906
-1754 6467
39210 2408
~~~~~~~~~~~~~~
Receipts 17436
lnterest on life and superannuation funds imputed to households 3 492 Other inlerest, elc., paid , . • . • • . • , . • . • J J 923 Income tax payable on life and superannuation £unds • 181 Extraordinary insurance claims paid, , , • . , , 200 Income-
18168
4151 12136
244
20768
5048 14150
287
28211
6 !02 20472
318
33457
7364 22550
360
--~· m ~ ~ • • Dividendspaid(b). . 1117 1285 1730 2917 3802 Undistributed income. -39 -515 -1255 -2387 -1479
~~~~~~~~~~~~
Disbursements 17436 18168 20768 28211 33457
(a} Including the Nominal Industry. (b) Includes· income transfem:d to general government by public enterprises.
11
~ Table 10-lncrease in Stocks ($ million) Table 12--Private Final Consumption Expenditure ($ million)
1982-83 1983-84 1984-8S 1985-86 1986-87 1982-83 1983-84 1984-8S 1985-86 1986-87
Increase in book value or stocks- Food. 11160 18S49 19854 22399 24252
Manufacturing- Cigarette's a~d "tobac~o : 1886 2200 2389 2705 2950
Mclals, mc1aJ· produc1s, machinery. -312 -14 343 519 246 Alcoholic drinks , , , S540 S860 6268 6857 7327
Transport equipment • • • • -207 3 205 324 -92 Clothing, footwear and draPerY 6811 7 349 7861 8712 9340 Chemicals, petroleum products • 92 148 3 ISi 123 Household appliances • , , 3263 3576 3745 3969 4121 01her manufacturing • , , . 89 297 654 637 683 Other household durables . 4248 4588 4967 5548 5858
Total manufacturing . -338 434 1205 1631 960 Hcal1h • 7094 77S9 8178 8860 10044
Wholesale and retail trade . S40 792 2341 2277 1347 Owclling rc~t...'.. Other non·farm industries 198 38 -17 110 311
'I Imputed rent of owner-occupiers . 14759 17211 20090 23930 28455 Other •.•..• , . 4819 5430 6130 6961 8073
Total private non-farm. 400 1264 3S29 4018 2618 Gas, elcc:tricity and fuel. 2575 2861 3084 3372 3725 Fares. 2954 3254 3748 4054 4498
Farm. -274 524 -109 -157 68 I Purchase. or' m~to; v~hi~les: 3621 3926 4480 4622 4353
Public m~rk~ling a~thorilics' -262 1266 -26 -748 -373 Operation of motor vehicles 7f03 7487 7954 8301 8 887 Other public authorities, 287 89 88 141 247 I
Postal and telephone services : 1461 1671 1868 2097 2326 Entertainment and recreation • 4054 4S97 5057 5647 6162
Total increase in book value . ISi 3143 3482 3254 2560 Financial services. 2915 3362 J 854 4423 5233
Less Stock valuation adjustment-Other goods and scrv·i~ 14052 15635 17486 19462 20818
Priva!e non-farm 2649 J 637 2463 2197 3S63 Tola I Farm. 8 -6 12 7 21 104435 115315 127013 J4l 919 156422
Public m~rk~tini a~th.oriiics. -49 IOI -20 -262 228
Total stock valuation adjustment 2608 1732 2455 1'942 3812 Table 13--Private Final Consumption Expenditure at Average 1979--80 Prices ($ million) Increase in stocks-
Privalenon-farm • -2249 -373 I 056 1821 -945 1982-83 1983-84 1984-85 1985-86 1986-87 Farm. -282 S30 -121 -164 47 Public m~rk~tini a~th
0
orilics0
-213 1165 -6 -486 -601 Food. 13110 13150 1339S 14148 14168 Other public authorities • 287 89 88 141 247 Cigarcttc'.s a~d .toba~o : 1439 1385 1365 1384 1288
Alcoholic drinks • • • 4183 4079 4050 4 JOI 3977 To1a\ increase in stocks -2457 1411 I 027 1312 -1252 Clothing, footwear and draPcrY S642 5666 5725 S840 S704
Household appliances , , 2968 3234 3481 35S9 3451 Other household durables • 3205 3203 3306 3382 3208
Table II-Farm Income ($ million) Health S237 S394 5311 5377 5566 Dwellin8 re~t : : : : 13942 14644 15418 16248 17080
1982-83 1983-84 1984-85 1985-86 1986-87 Gas, electricity and fuel. 1598 1646 1673 1723 1817 Fares. 2116 2117 2350 2376 2547
Gross value of fa.rm production (GYP)-Purchase' of
0
m~to; v~hic0
les: 2892 2923 3136 2892 2300 Operation of motor vehicles 5 195 S034 4982 4916 5068
Wool (including skin wool). 1761 2016 2434 2707 3255 Postal and telephone services : 1229 1301 1393 1489 1597 Liveslock slaughterin~ 3452 3509 3183 3887 4513 Entertainment and recreation . 2934 3061 3195 3305 3331 Sugar cane • • . • 509 517 Sl2 494 S67 Financial services. 2183 2286 2484 2688 2954 Wheal 1566 3606 3203 2719 2S73 Other goods and scrvi~ Other grain ~roPs : : : 664 1345 I 290 I 071 898
10368 10954 11594 II 780 11536
Other crops .•.•. 2277 2959 2863 3093 3433 Total 78241 80077 82858 85208 85592 Other livestock products. 1485 1474 1351 1432 1'479
Tota\ GYP II 714 15426 15436 15403 16718 Subsidies not included i~ a°vp· 128 44 7 less Production valuation adjustment . • , . , . . , . 2 30 -183 -270 86
Production costs other than wages and consumption of fixed capital • , .•.• , .• 66-03 6908 7117 1208 7225
Gross farm product al factor cost 5237 8S32 8S09 8465 9407 ~ ; Indirect taxes less subsidies ..• , . 344 506 526 555 S31
Oross farm product al market prices • . . • . , . SS81 9038 903S 9020 9938 , ~ less Wages, consump1ion of fixed capilal, net rent and interest
paid and third party insurance transrers, 4448 4936 S478 6475 7436 lndirccttaxeslesssubsidies. 344 506 S26 SSS S31
Farm income . 789 3596 3031 1990 1971
Uss lncrcase in assecs with marketing organisations. -132 -151 284 217 386
Realised farm income . 921 3747 2747 I 773 1585
12 13
Table 14--Housebolds (a) Income and Outlay Account ($ million)
Net operating surplus-Dwclling<> owned by persons Unincorporated enterprises . . • •
less Interest, etc., paid relating thereto. . • Third party insurance transrcrs to persons
Total unincorporolcd enterprises income and income from dwelling rent •••.•••.•
Ofwhfch-Farm unincorponucd enterprises income • . Non-farm unincorporated enterprises income • Income from dwelling rent • . • . • . •
Wages, sa!arks and supplements • • . . • . . Interest on life and superannuation funds (imputed) Other interest, etc., received ..•. Dividends received .•.•.•• Personal benefit payments to residents • Current grants to non-profit institutions Third party insurance transfers • , Unrequited transfers from overseas •
Receipts
Private final consumption expenditure . Consumer debt interest . . . . Income tax paid . Other direct taxes, fees, fines, etc. Un1tquited transfers to overseas • Saving , .••.
Disbursemenls
(a) Including unincorporated enterprises.
Table IS-Household Disposable Income ($ million)
1982-83 1983-84 1984-85 1985-86 1986-87
9567 12788 8860
370
13125
771 7798 4SS6
93446 3492
11190 I 035
16154 1858
831 920
142051
104435 2212
22943 I 031
622 10808
11661 17384 9471
560
19014
3549 9105 6360
98958 4151
11995 1141
18890 2261 1239 1320
158969
115315 2347
24691 1125
692 14799
13997 18158 10603
704
20848
3005 9705 8138
109424 5048
13428 1300
21207 2585 1552 1418
176810
127013 2704
29289 1215
704 15885
17075 20077 14312
826
21954
1950 I 091 9338
120309 6102
18323 1410
22908 2838 1824 1820
197488
141919 3650
32714 1305
720 17180
20955 21657 17216 1044
24352
1965 1138
II 599
131253 7364
20021 1480
24687 3143 2331 2227
216858
156422 4214
38049 1384
746 16043
142051 158 969 176 810 191488 216 858
1982-83 1983-84 1984-85 1985-86 1986-87
Household income (Receipts, Table 14) ••• , , • , , 142051 158969 176810 197488 216858 less Income tax, other direct taxes, fees, fines, etc., consumer
debt interest and unrequited transfers to overseas 26 808 28 855 33 912 38 389 44 393
Household disposable income. 115 243 130 114 142 898 159 099 172 465
14
I I
Table 16-General Government Income and Outlay Account ($ million)
Direct taxes on incomclndividuats-
Net tax instalments Other.
Enterprises . Non-residents
Total .•...•.. Other direct taxes, recs and fines etc. Indirect taxes. , •• Income transferred from-
Public trading enterprises , • , Public financial enterprises • , •
Interest etc., and dividends received ,
Receipts
Final consumption expenditure Interest etc., paid ..••. Subsidies ..•••• , . , . Personal benefit payments to residents • Current grants to non-profit institutions lJnrequilcd ltansfers to overseas • Surplus on current transactions
Disbursements
1982-83 1983-84 1984-85 1985-86 1986-87
18841 4 J02 4718
414 28075
1031 22420
47 769
2824
55166
32432 4077 3045
16154 1766
807 -3115
55166
19940 4 751 4487
466
29644 1125
25660
207 910
3244
60790
35996 5173 3247
18890 2156
856 -5528
60790
23424 5865 5440
598 35327
1215 29379
201 1255 3713
71 090
40462 6761 3660
21207 2471
950 -4421
71090
26324 6390 5976
712
39402 1305
32371
294 2330 4335
80037
45219 8536 3820
22907 2707
980 -4132
80037
29526 8523 6527
814 45390
I 384 34708
240 3 103 4233
89058
49068 9558 3945
24687 2998
947 -2145
89058
Table 17--Commonwealtb General Government Income and Outlay Account ($ million)
Direct taxes on income • • . • • Other direct taxes, recs and fines etc. Indirect taxes-
Payments basis. • , , • Adjustment to payable basis
Income transferred from-Public trading enterprises • • • Public financial enterprises . , .
Interest etc., and dividends rcccived-lntercst from states, N.T. and local authorities. Other ••••.•.
Intergovernmental transfers
Receipts
Final consumption expenditurePayments basis, • , . • , Overseas adjustment-defence • Consumption of fixed capital
Interest etc., paid .• , , • Subsidies-
Payments basis • • • • • • • • Adjustment to payable basis . . .
Personal benefit payments to residents , Curren! grants lo non-profit instilulions Unrequited transfers to overseas . • , • . , . Current grants to states, N.T. and local authorities . Surplus on current transactions
Disbursements
15
1982-83 1983-84 1984-85 1985-86 1986-87
28075 29644 35327 64 70 76
12900 15066 17 517
39 31 17 698 797 I 066
1938 2083 2227 915 1155 1265
44 629 48 846 57 495
9855 -91 378
3380
J 313
15593 607 807
13133 -346
44629
11357 -482
432 4329
J 459
18299 717 856
14947 -3068
48846
12800 -213
471 5652
I 708
20564 871 950
16465 -1773
51495
39402 45 390 80 87
19263 20200 I
83 55 2025 2 724
2330 2426 1340 t 338
64523
14461 -45 641
7042
1608
22232 959 980
17714 -1069
64 523
24
72245
15711 -337
797 7918
1273 206
23950 I 110
947 19259
1411
72245
Table 18-State and Local General Government Income and Outlay Account ($ million)
1982-83 1983-84 1984-85 1985-86 1986~87
Direct taxes_ fees and fines clc. Indirect taxes , , , , lnt<lme transferred from-
Public trading enterprises . Public financial enterprises .
Interest etc., and dividends received • • Current grants from the Commonwealth
Receipts
Fina! consumplion c:i:pc:ndi!UrePaymcnts basis ....• Consumption of fixed capital
Interest etc., paid-lntcrcst paid to the Commonwealth • Olher interest etc., paid •
Subsidies •...••••.. Pcl'S()nal benefit payments to residents . Current grants to non-profit inslitutions Intergovernmental transfers . Surplus on current transactions
Disbursements
967 9520
8 71
1909 13133
25608
18542 3748
1938 698
I 732 561
1159
-21io
25608
I 055 10594
116 113
2094 14947
28979
20698 3990,
2083 849
1738 591
1439
-2459
28979
1139 11862
184 189
2450 16465
32289
23137 4273
2227 1113 1.952
643 1600
-2656
32289
Table 19-Public Trading Enterprises Income and Outlay Account ($ million)
Nel operating surplus Interest, etc., received •.. Extraordinary insurance claims
Receipts
Interest, etc., paid ... , ... Current grants to non-profit institutions Public cnlcrprisc incomc-
lncome tax payable • . . . , Transferred to general government Undistributed income.
Disbursemcnls
16
1982-83 1983-84 1984-85
815 650
1465
3986 92
29 47
-2689
1465
1554 619
75
2308
4735 105
27 207
-2766
2308
2079 888
2967
5516 114
26 200
-2959
2967
1225 13108
211 305
3001 17714
35564
25512 4646
2330 1499 2212
676 I 748
-3059
35564
1297 14507
185 379
2902 19259
38529
27867 5032
2426 1648 2466
739 1888
24 -3561
38529
1985-86 1986-87
2 734 2958 J 321 l 629
4055
6482 131
47 293
-2898
4055
4587
7666 145
54 240
-3518
4587
I
Table 20--Commonwealth Public Trading Enterprises Income and Outlay Account ($ million)
Net operating surplus Intcrcs1, etc., received
Receipts
lntcresl, etc., paid , • , . , , . Current grants to non-profit insticulions Public enterprise income-
Income tax payable , , .•. Transferred to general government Undistributed income. . • • .
Disbursements
1982-83 1983-84 1984-85 1985-86 1986-87
223 191
414
1121
29 39
-115
414
834 147
981
1350
27 31
-427
981
885 241
t 126
1530
26 17
-447
1126
1254 361
1615
1752
47 83
-267
1615
1550 476
2026
2061
54 SS
-144
2026
Table 21--State and Local Public Trading Enterprises Income and Outlay Account ($ million)
Net operating surplus Interest, clc., received •. , Extraordinary insurance claims
Receipts
Jn!erest, clc,, paid ••••••• Current grants to non-profit institutions Public enterprise incomc-
fncome tax payable , • • • . Transrerred to general government Undistributed income. , . . .
Disbursements
17
1982-83 1983-84 1984-85 1985-86 1986-87
589 462
1051
2865 92
8 -1914
I 051
718 536 75
1329
3386 105
d6 -2338
1329
1193 651
1844
4047 114
184 -2501
1844
1480 965
2445
4734 131
211 -2631
2 445
1409 1153
2562
5606 145
185 -3374
2562
Table 22-General Government Capital Account ($ million)
1982-83 1983-84 1984-85 1985-86 1986-87
Consumption of fixed capital • • . . . . Surplus on current transactions . • • • • Capital revenue, net, ..•..•.. Capital grants from public trading enterprises, Uss Capital grants to-
Public trading enterprises • • • • Pu!Jlic financial cnzc111riscs . . . • Private corporate trading enterprises • Persons and non-profit inslitutions •
Finance of gross accumulation
Gross fixed capital cxpendi!Urc Increase in stocks. . . • • Purchases of land and intangible assets, net Nctlcnding-
Nctadvancesto-Privatcscctor ....... . Foreign governments and organisations Public trading enterprises. . . . • Public financial enterprises • .
Uss Financing transactions-Domcstic borrowings. • Borrowings from overseas • Deposits received . • • . Reduction in investment . . • • Reduction in cash and bank balances Funds for IMF Increase in provisions . . Other financial transactions , . • • • • • •
Total net lending (including statistical discrepancy)
Gross accumulation
18
4126 -3115
95 181
344 1
25 343
S68
4S60 50 37
268 142 m
-24
4717 591 336 83
-715
91 -66
-4079
S68
4422 -S528
122 96
438 10 IS
442
-1793
5189 2
-2s
137 S79 405 116
8174 361 396 108
-1364 -128
IOS -S6
-69S9
-1793
4744 -4421
139 43
690 13 16
S36
-1so 6072
29 -s2
14 312 461
71
7 531 903 4S2
-158 -879
I 196
-389 -6799
-1so
S287 -4132
180 4S
692 IS 14
466
193
7213 5
-21s
145 139 460 124
6204 1244
701' 86
-1087
295 23S
-6810
193
5829 -214S
216 48
670 14 16
437
2811
7994 20
-197
n.a.
-5006
2811 :1
l I i
•i
.J
Table 23-Commonwe~ltb General Government Capital Account ($ million)
Consumption of fiii:ed capital • . , • • . • Surplus on current tramactions • • • . . . Capital revenue, net , • , • • . , • . • Ltss Capital grants to-
Sta!e and local genera! government enlerpriscs Public trading enterprises , . • • Private corporate trading enterprises • Persons and non.profit institutions
Finam:e or gross accumulation
Gross fixed capital expenditure Increase in stocks. . . , • . . , • Purchases or land and intangible assets, net Net lcnding-
Nct advances to-Private sector , .•••.•• Foreign governments and organisations State and local govCmments , • Public trading enterprises, • Public financial enterprises .
Uss Financing transaclions-Domestic borrowings. . • Borrowings from overseas . Deposits received . . . • Reduction in investment • . • . Reduction in cash and bank balances Funds for IMF . • • • • • • Increase in provisions •.... Other financing transactior,s • • . . . • . .
Total net lending (including statistical discrepancy)
Gross ae<:umulation
(a) Included with other finandng transactions.
19
1982-83 1983-84 1984-85 198S-86 1986-87
378 -346
I
2231
io 264
-2472
S97 46
-29
79 142
I 056 228
-6S
4266 585
8 -36
-384
SI 36
-3086
-2472
432 -3068
2814
12 3SS
-S817
637 -I
-S8
13 S19 996
-14 36
7848 362
-27 47
-227 -128
S2 78
-639S
-5817
471 -1773
I
3187 3
10 42S
-4926
820 -I
-91
22 312 791
9 -13
6021 906 so 2
-373 I
ISO 18
-5654
-4926
641 -I 069
I
3283
10 3SS
-4075
947 I
-106
17 139 783
-95 II
4303 I 271
41 12
-118
214 49
-4917
-407S
797 1411
I
3291
ii 32S
-1419
1193 17
-11
fn.a. S4S
n.a.
-2SS2
-1419
Table 24--State and Local General Government Capital Account ($ million)
Consumption of fixed capital , Surplus on current transactions Capital revenue, ncl, •• , , , .• , , , Capita\ grants from the Commonwealth government Capi1al grants from public trading cnlcrprises Un Capital grants to-
Public lrading cn!crprises , Public financial enterprises •... Privalc corpora1c 1rading enterprises • Persons and non-profil institutions
Finance of gross accumulation
Gross fixed capital expenditure Increase in $locks • • • • . • , . Purchases of land and in1angiblc assets. net Net lending-
Nct advanccstoPrivatescctor , , .• Public trading enterprises. Public financial enterprises
Uss Financing transactions-Advanccs received from Commonwealth government , Domestic borrowings . , . , . . . . , . • Borrowings from overseas . Deposits received . • , Reduction in investment • • . , Reduc1ion in cash and bank b:ilanccs Increase in provisions •. Other financing tr.msaclion.s • . • . , , . ,
Total net lending (including statistical discrepancy)
Gross accumulation.
1982-83
3748 -2770
94 2231
181
344 7
15 80
3038
3963 3
6S
189 344
41
I 056 451
6 329 118
-331 40
-102 -993
3038
1983-84
3 990 -2459
122 2814
96
438 JO 2
88
4025
4552 3
33
124 418
80
996 926 -1 422 46
-l 137 S3
-120 -563
4025
Table 25-Public Trading Enterprises Capital Account ($ million)
Consumption of fhed capital , Undistributed income Capital re\'enue. net. , .. , . , . Capi1a! grants from general government • less Capital grants 10 general government.
Finance of gross accumula1ian
Gross fixed capital expenditure lncrcasc m stocks •. , ... , .. Purchases of land and intangible assets, net !"cl lending--
Net advanccsto·-Pub!ic financial en1crpnses Private enterprises. Other ...... ,
Uss Financing lransactions-Advanccs received from general government . Domestic borrowings . . . , . Borrowings from overseas . Deposits received . . . Reducuon in investment . . . . Reductfon in cash and bank bJlances Increase in provisions . . . . , Other financing transactions (a) . , • , • . .
Total net lending (including statistical discrepancy)
Grossaccumulat10n.
(o) Includes all net lending for some marketing authorities.
20
1982-83 1983-84
4494 -2689
279 344 181
2247
7917 24
-12
-1 117
S2
S72 3536 1491
s -63
-417 643 83
-S682
2247
4900 -2 766
307 438
96
2783
8207 I 252
30
127 l8S
40S 3 S60 1625
8 -142 -388
940 l O!O
-6706
2783
4273 -2656
138 3187
42
687 13 6
Ill
4167
5252 30 38
-8 453
84
791 1511 -4 402
-176 -506
46 -382
-1153
4167
1984-85
5S31 -2949
397 689
43
362S
8136 53 76
-9 140 118
461 3077
974 2
-316 -850
781 760
-4640
3625
4646 -30S9
179 3283
43
692 IS 4
Ill
4270
6266 4
-!09
128 556 114
783 1901 -26 659 67
-968 81
192 -1891
4270
J98S-86
6136 -2898
481 692 4S
4 366
9473 -350
70
-s 283
-IOI
460 4144
S64 6
-185 I05 7S7
-841 -4827
4366
1986-87
5032 -3S6J
215 3291
48
670 14 4
112
422S
6801 3
-120
}na.
F -2459
1986-87
685S -JSJJ
512 670
48
4476
10021 -374 -20
-5151
4476
I: I·
.,\
r I
I I
Table 26-Commonwealth Public Trading Enterprises Capital Account ($ million)
Consumption of fixed capital • Undistributed income . . . . • . Capital grants from general government
Finance or gross accumulation
Gros.s fixed capital expenditure Increase ln stocks. , . , • , , . , Purchases of land and intangible assets, net Net lending-
Net advances to-.Public financial enterprises Private enterprises ..• Other .. , , • , ,
Less Financing transactions-Advances received from general govemmtnl • Domestic borrowings . . . . • Borrowings from overseas • • . • Deposits received , • . ReducJion in investment . • . . Reduction in cash and bank balances Increase in provisions • . . , , Other financing transactians(a) , , . • . . •
Total nel lending (including statistical discrepancy)
Gross accumulation •
(a) Includes all net lending for some marketing authorities.
1982-83 1983-84 1984-85 1985-86
1496 1602 -ns -421
721 1175
1450 1630 -176 1188
-6 7
16 34 53 176
228 -14 460 179
16 132 -2 24 126
-55 I 275 350
-330 1086 -547 -1650
721 1175
1'830 -447
3
1386
1986 100
14 Ill
9 474 3SO
-245 -371
20 588
-700
1386
2006 -267
1739
2937 -509
29
36 -111
-9S 602 332
-106 293 192
-575 -718
1739
Table 27-State and Local Public Trading Enterprises Capital Account ($ million)
Consumption of fixed CI1pjtal • Undistributed income • , . , • . • Capilal revenue, net . • . • • . , . Capital grants from general government • Uss Capital grants to general government.
Finance of gross accumulation
Gross fixed capita\ expenditure Increase in stocks , , • • . , , . Purchases of land and intangible assets, net Net lending-
Net advances to-Pub\ic financial enterprises Private enterprises . . . Other. , ••••.
Uss Financing transactions-Advanccs received. from general government . Domestic: borrowinl!;'i • • , . , . , , Borrowings from overseas . . • • Deposits received· .•••... Reduction in invcslmenl . • • . Reduction in cash and bank balances Increase in pro11isions , . • • . Other financing transactions (a) , , . , • . . •
Total net lending (including statistical discrepancy)
Gross accumulation .
(o) Includes all net lending for marketing authorities.
21
1982-83 1983-84 1984-85 1985-86
2998 -1914
279 344 ISi
I 526
6467 200 -6
-1 IOI -1
344 3076 1475
7 -87
-362 368 413
-5135
I 526
3298 -2338
307 438
96
1609
6576 64 23
93 9
419 3381 1493
8 -268 -389
S90 -78
-5054
1609
3701 -2SOI
397 687
43
2241
6150 -47
77
-9 126
7
452 2603
624 2
-71 -479
761 171
-3939
2241
4130 -2631
481 692
4S
2627
6536 159
41
-s 247
IO
SSS 3542
232 6
-79 -188
S6S -272
-4109
2627
1986-87
2236 -146
2090
3414 -576
-748
2090
1986-87
4619 -3ln
512 670
48
2376
6607 202
-20
-4413
2376
