Melbourne GDP 2015-2016

New research released by SGS Economics & Planning (SGS) reveals that Sydney and Melbourne are driving the national economy, while regional areas are languishing. During 2015-16, 67.0 per cent of national Australian Gross Domestic Product (GDP) growth was generated in Sydney and Melbourne – the highest level on record.

  • In 2015-16 Melbourne’s GDP was $303.6 billion and represented 18.3 per cent of national GDP.
  • Melbourne contributed 28.4 per cent of national GDP growth.
  • Melbourne’s 4.4 per cent GDP growth rate was the highest since 2003-04.
  • The construction industry’s contribution (0.7 percentage points) to Melbourne’s GDP growth was the second highest on record. The highest was 0.8 percentage points in 2002-03
  • Manufacturing’s share of Melbourne’s economy is at a record low of 6.9 per cent.
  • Melbourne’s labour productivity grew by 0.1 per cent, the lowest rate of growth since 2010-11.
  • Melbourne’s GDP per capita growth of 1.8 per cent was the highest since 2004-05.
  • Melbourne’s GDP per capita of $65,400 in $4,000 below the national average.
  • Regional Victoria’s GDP fell by 1.0 per cent in 2015-16, the fourth straight year of decline.
  • GDP per capita has fallen nine years in a row in Regional Victoria. Since the peak in 2006-07 GDP per capita in Regional Victoria has fallen by 8 per cent.
  • Manufacturing in Regional Victoria has fallen by 26.2 per cent since 2009-10, but is still the largest industry, representing 9.4 per cent of GDP.

Return to GDP by Major Capital City 2015-16 page.