Not for Profits Contribution to the Australian Economy – New ABS Figures
Monday, 28th September 2009 at 3:54 pm
Australian Not for Profit organisations have contributed close to $43 billion (or 4.1%) to Australia’s economy in 2006/07, as measured by gross domestic product, according to the latest figures released by the Australian Bureau of Statistics (ABS).
And Not for Profits received income of $76.6 billion and employed close to 890,000 people during the same period.
The types of NFP activities that contributed to the economy were education and research (27%), health and hospitals (17%), culture and recreation (16%) and social services (16%).
The ABS figures also show that volunteers made an important contribution. In 2006/07, volunteers contributed 623 million hours to NFPs, equating to 317,200 full-time equivalent jobs. The economic value of these hours was estimated to be $14.6 billion.
Parliamentary Secretary for Social Inclusion and the Voluntary Sector, Senator Ursula Stephens says the data highlights the enormous contribution of Not for Profit organisations to Australian life.
Senator Stephens says not only does the sector make a valuable economic contribution to our country, but these organisations also play an invaluable role in responding to community needs, building social capital and bolstering resilience when times get tough.
Further details are in Australian National Accounts: Non-Profit Institutions Satellite Account, 2006/07 (cat. no. 5256.0) available free from the ABS website www.abs.gov.au