# economic profile # City of Launceston

### Gross product

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The City of Launceston's Gross Regional Product was \$4,598m as of the 30th June 2019.

The Gross Regional Product of an area is the equivalent of Gross Domestic Product, but for a smaller area. It is the amount of the nation’s wealth which is generated by businesses, organisations and individuals working in the area. This dataset is derived from the National Economics microsimulation model, and is a broad indicator of the growth or decline of the local economy over time. Data are presented for each year back to 2002.

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Gross Regional Product (GRP)
City of LauncestonTasmania
Year (ending June 30)\$GRP \$m% change from previous yearCumulative change\$GRP \$m% change from previous yearCumulative changeCity of Launceston as a % of Tasmania
20194,598+3.18148+31,547.07+4.20+153.41+14.58
20184,456+0.77143+30,276.94+3.31+147.23+14.72
20174,422+0.01142+29,305.58+0.65+142.51+15.09
20164,422+1.29142+29,116.46+0.73+141.59+15.19
20154,365+0.26140+28,904.77+1.87+140.56+15.10
20144,354-0.11140+28,375.20+1.25+137.99+15.34
20134,359-0.73140+28,023.75-0.19+136.28+15.55
20124,391+0.03141+28,076.19+1.10+136.53+15.64
20114,390+2.52141+27,770.59+1.59+135.05+15.81
20104,282+0.45138+27,336.79+0.36+132.94+15.66
20094,263+3.02137+27,238.57+2.08+132.46+15.65
20084,138+4.38133+26,684.26+4.04+129.76+15.51
20073,964+3.58128+25,647.93+4.28+124.72+15.46
20063,827+3.12123+24,595.68+2.46+119.61+15.56
20053,711+1.86119+24,004.24+3.38+116.73+15.46
20043,643+5.05117+23,218.50+5.08+112.91+15.69
20033,468+4.11112+22,096.79+2.15+107.46+15.69
20023,331+7.17107+21,631.42+5.19+105.19+15.40
20013,108--100+20,563.73--+100.00+15.11

Source: National Institute of Economic and Industry Research (NIEIR) ©2019. Compiled and presented in economy.id by .id the population experts. Data are based on a 2016-17 price base for all years. NIEIR-ID data are inflation adjusted each year to allow direct comparison, and annual data releases adjust previous years’ figures to a new base year.Learn more *Cumulative change uses 2010 as the base year.
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