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Tasmania's GSP 'reached $22.3bn last year'

Gross State Product in Tasmania for 2009-10 was $22.3 billion, the Australian Bureau of Statistics has revealed.

Tasmania's Gross State Product (GSP) reached $22.3 billion in 2009-10, a report from the Australian Bureau of Statistics (ABS) has revealed.

The Tasmanian State and Regional Indicators report also reveals that GSP increased by $94 million from the $22.2 billion recorded in the year 2008-09.

However, GSP per capita for Tasmania last year recorded a negative (-0.5 per cent) growth when compared to 2008-09.

This was due to the population growth exceeding the GSP growth rate, the ABS report explains.

The real gross state income in Tasmania increased by two per cent from 2008-09 to the following year.

"Real gross state income, a measure of the real purchasing power of income generated by production within the state, is calculated by adjusting the chain volume measure of GSP for changes in the terms of trade," the report states.

Earlier this month, RP Data revealed that Tasmania's Rocky Cape is the most affordable oceanfront suburb in which to buy Australian property.

Posted by Steve Douglas

- Tasmania, revenue, product, economy, GSP

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