Value added by industry is an indicator of business productivity in Bayside Council area. It shows how productive each industry sector is at increasing the value of its inputs. It is a more refined measure of the productivity of an industry sector than output (total gross revenue), as some industries have high levels of output but require large amounts of input expenditure to achieve that.
By comparing the value added of each industry sector to a regional benchmark, you can clearly see the structure of Bayside Council area’s economy. This can be done by directly comparing the percentage contribution of each industry to the total output, relative to the benchmark, or by using a location quotient, where a number greater than one indicates a high concentration of that industry and less than one indicates a lower concentration.
To see what contribution each industry makes to the state or region, see the Industry sector analysissection. To understand the value of a worker in each industry, view this dataset in conjunction with Worker productivity data, and to see the relationship of value added to the total size of the economy, go to the Gross Regional Product section.
Detailed notes about how the figures are derived can be found in the specific topic notes section.
Data source
National Economics (NIEIR) - Modelled series
Current benchmark:
Comparison year:
| Value added by industry sector | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Bayside Council area | 2022/23 | 2017/18 | Change | ||||||
| Industry | $m | % | New South Wales | $m | % | New South Wales | 2017/18 - 2022/23 | ||
| Agriculture, Forestry and Fishing | 15.4 | 0.1 | 2.5 | 16.7 | 0.1 | 2.4 | -1.3 | ||
| Mining | 2.4 | 0.0 | 5.1 | 0.8 | 0.0 | 6.6 | +1.7 | ||
| Manufacturing | 1,123.6 | 8.1 | 6.2 | 1,027.2 | 6.8 | 6.8 | +96.3 | ||
| Electricity, Gas, Water and Waste Services | 103.1 | 0.7 | 2.0 | 123.5 | 0.8 | 2.2 | -20.4 | ||
| Construction | 1,061.9 | 7.6 | 8.1 | 1,553.4 | 10.3 | 8.9 | -491.5 | ||
| Wholesale Trade | 789.7 | 5.7 | 4.8 | 728.2 | 4.8 | 5.2 | +61.5 | ||
| Retail Trade | 623.7 | 4.5 | 5.1 | 668.0 | 4.4 | 5.1 | -44.3 | ||
| Accommodation and Food Services | 420.5 | 3.0 | 3.1 | 379.7 | 2.5 | 2.9 | +40.8 | ||
| Transport, Postal and Warehousing | 5,150.6 | 36.9 | 6.0 | 6,701.3 | 44.5 | 6.2 | -1,550.7 | ||
| Information Media and Telecommunications | 288.1 | 2.1 | 4.4 | 160.1 | 1.1 | 3.3 | +128.0 | ||
| Financial and Insurance Services | 317.4 | 2.3 | 11.3 | 342.4 | 2.3 | 11.3 | -25.0 | ||
| Rental, Hiring and Real Estate Services | 715.2 | 5.1 | 4.1 | 595.6 | 4.0 | 4.4 | +119.6 | ||
| Professional, Scientific and Technical Services | 761.8 | 5.5 | 10.5 | 596.3 | 4.0 | 9.5 | +165.5 | ||
| Administrative and Support Services | 798.7 | 5.7 | 4.9 | 765.0 | 5.1 | 4.6 | +33.7 | ||
| Public Administration and Safety | 676.2 | 4.9 | 5.2 | 454.3 | 3.0 | 4.9 | +221.9 | ||
| Education and Training | 354.1 | 2.5 | 5.6 | 274.7 | 1.8 | 5.6 | +79.4 | ||
| Health Care and Social Assistance | 479.1 | 3.4 | 8.6 | 420.8 | 2.8 | 7.3 | +58.3 | ||
| Arts and Recreation Services | 79.3 | 0.6 | 0.8 | 62.1 | 0.4 | 0.9 | +17.3 | ||
| Other Services | 180.1 | 1.3 | 1.6 | 205.1 | 1.4 | 2.0 | -25.0 | ||
| Total industries | 13,940.9 | 100.0 | 100.0 | 15,075.1 | 100.0 | 100.0 | -1,134.1 | ||
Source: National Institute of Economic and Industry Research (NIEIR) ©2023. Compiled and presented in economy.id by .id (informed decisions). NIEIR-ID data are adjusted each year, using updated employment estimates. Each release may change previous years’ figures. Learn more Please refer to specific data notes for more information | |||||||||
Dominant groups
An analysis of the valued added by industry sectors in Bayside Council area in 2021/22 shows the three largest industries were:
- Transport, Postal and Warehousing (5,151 million or 36.9%)
- Manufacturing (1,124 million or 8.1%)
- Construction (1,062 million or 7.6%)
In combination these three industries accounted for 7,336 million in total or 52.6% of the total value added by industry in the Bayside Council area.
In comparison, the same 3 industries in New South Wales accounted for 6.0% in Transport, Postal and Warehousing; 6.2% in Manufacturing and 8.1% in Construction.
The major differences between the value added by industries of Bayside Council area and New South Wales were:
- A larger percentage of value added by Transport, Postal and Warehousing (36.9% compared to 6.0%)
- A smaller percentage of value added by Financial and Insurance Services (2.3% compared to 11.3%)
- A smaller percentage of value added by Health Care and Social Assistance (3.4% compared to 8.6%)
- A smaller percentage of value added by Mining (0.0% compared to 5.1%)
Emerging groups
The total value added by industry in Bayside Council area $decreased by -1,134 million between 2017/18 and 2022/23.
The largest changes in the value added by industries between 2017/18 and 2022/23 in Bayside Council area were for:
- Public Administration and Safety (+$222 million)
- Professional, Scientific and Technical Services (+$166 million)
- Information Media and Telecommunications (+$128 million)
- Rental, Hiring and Real Estate Services (+$120 million)