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82-745: The Berserker Range is a mountainous region located on the eastern and northeastern boundary of the city of Rockhampton in Central Queensland , Australia. Within it lies Mount Archer National Park . It has been designated the Berserker Range Environmental Protection Area by the Rockhampton Regional Council . The southernmost part of the range reaches the Fitzroy River at Broadmount, east of Rockhampton. The range

164-535: A GRP of $ 5.7 billion as of 2023. The Central Queensland University founded in 1967, has its main campus at Norman Gardens , and is the only Australian university with a campus presence in every mainland state. The city is served by Rockhampton Airport , and Port Alma , located at the south end of the Fitzroy river delta. Rockhampton is renowned for its architecture, cuisine, and music; in particular for its jazz scene, and has been sometimes referred to as

246-509: A base year. The result would be that the GDP in 2000 equals $ 300 million × 1 ⁄ 2 = $ 150 million , in 1990 monetary terms. We would see that the country's GDP had realistically increased 50 percent over that period, not 200 percent, as it might appear from the raw GDP data. The GDP adjusted for changes in money value in this way is called the real GDP . The factor used to convert GDP from current to constant values in this way

328-518: A country becomes increasingly in debt, and spends large amounts of income servicing this debt this will be reflected in a decreased GNI but not a decreased GDP. Similarly, if a country sells off its resources to entities outside their country this will also be reflected over time in decreased GNI, but not decreased GDP. This would make the use of GDP more attractive for politicians in countries with increasing national debt and decreasing assets. Gross national income (GNI) equals GDP plus income receipts from

410-521: A country's borders, but by an enterprise owned by somebody outside the country, counts as part of its GDP but not its GNI; on the other hand, production by an enterprise located outside the country, but owned by one of its citizens, counts as part of its GNI but not its GDP. For example, the GNI of the US is the value of output produced by American-owned firms, regardless of where the firms are located. Similarly, if

492-650: A country's citizens at home and abroad rather than its "resident institutional units" (see OECD definition above). The switch from GNP to GDP in the United States occurred in 1991. The role that measurements of GDP played in World War II was crucial to the subsequent political acceptance of GDP values as indicators of national development and progress. A crucial role was played here by the U.S. Department of Commerce under Milton Gilbert where ideas from Kuznets were embedded into institutions . The history of

574-406: A country's production has increased (or decreased, if the growth rate is negative) compared to the previous year, typically expressed as percentage change . The economic growth can be expressed as real GDP growth rate or real GDP per capita growth rate . GDP can be adjusted for population growth, also called Per-capita GDP or GDP per person . This measures the average production of a person in

656-517: A design that closely resembled the Hoddle Grid of Melbourne , and consisted of a grid of wide boulevards and laneways, which was uncommon for Queensland cities. Within a year, gold was found at Canoona , and led to the first North Australian gold rush. The Canoona gold rush led to an influx of migrants that transformed Rockhampton into the second-largest port in the state; during this period, Rockhampton became infamous for crime and violence, and

738-632: A lake 60 kilometres (37 mi) long. The barrage was funded by the Rockhampton City Council to provide a reliable source of water to the city, and to effectively drought proof Rockhampton. In 2002, a study showed that salinity was increasing in the Fitzroy Basin and, while only small areas of land were severely affected by salinity, urged that steps be taken to manage salinity by good irrigation practices and better management of tree clearing. In 1989, two bombs exploded inside

820-663: A referendum. Before the 2008 amalgamation, the City of Rockhampton had a population of approximately 74,530, Fitzroy Shire approximately 11,357, and Mount Morgan Shire approximately 2,925 people. Proposed boundary changes between Rockhampton Regional Council and Livingstone Shire Council are under review by the Local Government Change Commission. The changes relate to three suburbs contiguous with Rockhampton City which are presently part of Livingstone Shire. The proposed changes will affect 1170 properties in

902-464: A secessionist movement with the intentions of breaking away from the state of Queensland. The core argument of movement was that the seat of government, Brisbane was in the south-east corner of the State. It was so far removed from substantial portions of the state that these areas and their citizens were left disadvantaged and neglected as political and economic interests focused on the south. Supplementing

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984-467: Is US$ 5,040,107.75 (in a million). Predictably, as a developed country, Japan has a higher GNI (by 182,779.46, in millions of USD), which is indicative that the production level in the country is higher than that of national production. On the other hand, the case with Armenia is the opposite, with GDP being lower than GNI by US$ 196.12 (in million). This demonstrates that countries receive investments and foreign aid from abroad. The Total income divided by

1066-425: Is also sometimes expressed as: The third way to estimate GDP is to calculate the sum of the final uses of goods and services (all uses except intermediate consumption) measured in purchasers' prices. Market goods that are produced are purchased by someone. In the case where a good is produced and unsold, the standard accounting convention is that the producer has bought the good from themselves. Therefore, measuring

1148-838: Is calculated this way it is sometimes called gross domestic income (GDI), or GDP (I). GDI should provide the same amount as the expenditure method described later. By definition, GDI is equal to GDP. In practice, however, measurement errors will make the two figures slightly off when reported by national statistical agencies. This method measures GDP by adding incomes that firms pay households for factors of production they hire – wages for labour, interest for capital, rent for land and profits for entrepreneurship. The US "National Income and Product Accounts" divide incomes into five categories: These five income components sum to net domestic income at factor cost. Two adjustments must be made to get GDP: Total income can be subdivided according to various schemes, leading to various formulae for GDP measured by

1230-474: Is called the GDP deflator . Unlike consumer price index , which measures inflation or deflation in the price of household consumer goods, the GDP deflator measures changes in the prices of all domestically produced goods and services in an economy including investment goods and government services, as well as household consumption goods. Real GDP can be used to calculate the GDP growth rate, which indicates how much

1312-639: Is composed of a diverse group of mostly igneous rocks dating from the Devonian to Early Triassic Periods. It has its origins in the Early Permian period around 275 million years ago, when the original segment of continental crust stretched and subsequently sagged, leading to the development of two faults and subsequent volcanic activity. Much of the rocky outcrops and peaks of elevated areas are composed of masses of rhyolite and dacite and known as Elliott Rhyolite . These masses then erode, with

1394-473: Is contributed at each stage of production. This approach mirrors the OECD (Organisation for Economic Co-operation and Development) definition given above. Gross value added = gross value of output – value of intermediate consumption. Value of output = value of the total sales of goods and services plus the value of changes in the inventory. The sum of the gross value added in the various economic activities

1476-531: Is exemplified by the Fitzroy River ; which has a lengthy, well documented history of flood records dating back to 1859. The highest recorded flood occurred in January 1918 and reached 10.11 m (33.2 ft). More recently, being affected by the 2010–2011 Queensland floods the Fitzroy River peaked at 9.2 metres on 5 January 2011. Rockhampton has a number of heritage-listed sites. For details see

1558-404: Is known as "GDP at factor cost". GDP at factor cost plus indirect taxes less subsidies on products = "GDP at producer price". For measuring the output of domestic product, economic activities (i.e. industries) are classified into various sectors. After classifying economic activities, the output of each sector is calculated by any of the following two methods: The value of output of all sectors

1640-550: Is one of the largest livestock sales facilities in the country, lies just to the west of the city. Rockhampton promotes itself as the Beef Capital of Australia but the title has been disputed a number of times by the New South Wales town of Casino . The tri-annual Beef Australia Expo held in the city is a celebration of the local area's cattle industry. Gross domestic product The ratio of GDP to

1722-587: Is that GDP defines its scope according to location, while GNI defines its scope according to ownership. In a global context, world GDP and world GNI are, therefore, equivalent terms. GDP is a product produced within a country's borders; GNI is product produced by enterprises owned by a country's citizens. The two would be the same if all of the productive enterprises in a country were owned by its own citizens and those citizens did not own productive enterprises in any other countries. In practice, however, foreign ownership makes GDP and GNI non-identical. Production within

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1804-453: Is then added to get the gross value of output at factor cost. Subtracting each sector's intermediate consumption from gross output value gives the GVA (=GDP) at factor cost. Adding indirect tax minus subsidies to GVA (GDP) at factor cost gives the "GVA (GDP) at producer prices". The second way of estimating GDP is to use "the sum of primary incomes distributed by resident producer units". If GDP

1886-606: The Fitzroy River , approximately 45 kilometres (28 mi) from where the river enters the Coral Sea , and some 600 kilometres (370 mi) north of the state capital, Brisbane . Rockhampton has a north and south side with three bridges connecting the two sides, one for trains and two for vehicles and people. Rockhampton lies just north of the Tropic of Capricorn in Central Queensland. A sculpture originally marking

1968-617: The Human Development Index or Better Life Index , as better approaches to measuring the effect of the economy on human development and well being . William Petty came up with a concept of GDP, to calculate the tax burden , and argue landlords were unfairly taxed during warfare between the Dutch and the English between 1652 and 1674. Charles Davenant developed the method further in 1695. The modern concept of GDP

2050-574: The List of heritage listed buildings in Rockhampton . Rockhampton is governed by the Rockhampton Regional Council . The Council consists of a mayor and seven councillors. The Mayor is elected by the public, and the Councillors are elected from seven single-member divisions using an optional preferential voting system. Elections are held every four years. Tony Williams is the current mayor after

2132-634: The Norwegian sagas . Although born in Scotland, the Archer family lived for many years in Larvik , Norway and members of the family moved between Queensland and Norway throughout their lives. A small amount of gold mining took place in the 19th century, and grazing leases were issued in 1900. The area was declared a timber reserve in 1940 and logged, with ironbark, white mahogany and lemon-scented gum being

2214-732: The Rockhampton Museum of Art (RMOA), one of the most extensive regional galleries in Australia, and the Dreamtime Cultural Centre . The Capricorn district is the traditional home of the Darumbal Aboriginal people . The Darumbal (Tarumbul, Tharoombool) language region includes the city of Rockhampton extending south towards Raglan Creek and north towards the Styx River and inland along

2296-519: The latitude was later moved into town to be more accessible to tourists. Although the Tropic of Capricorn is represented on maps as a "dotted line" that lies at 23 ° 26' 22", there is actually a bio-geographical overlap of Tropical and Temperate zones more than 500 kilometres (310 mi) wide; Rockhampton is roughly at its centre on the East Coast of Australia. The city is located on the banks of

2378-516: The " Melbourne of the North "; in reference to the city's tree-lined boulevards and laneways. The city's historic quarter is one of Australia's most significant 19th century streetscapes and is listed on the National Trust ; the quarter comprises three city blocks along Quay street, from Fitzroy to Derby street, and is known for its neoclassical architecture , dining and nightlife . Some of

2460-561: The 1880s and '90s, sea ports were established on the coast, adjacent to the mouth of the Fitzroy River. Broadmount was on the northern side and Port Alma on the south. Railways were subsequently constructed to carry goods to the wharves at these locations, with the railway to Broadmount opening on 1 January 1898 and the line to Port Alma opening on 16 October 1911. Maintenance on the Broadmount line ceased in August 1929. The following month,

2542-438: The 1890s, and many of the town's substantial brick and stone public buildings date from this period. The historic streetscape of Quay Street still displays a number of substantial historic buildings, built when Rockhampton was envisaged as being capital of a state of North Queensland. Most prominent of these is the sandstone Customs House (1900), which today houses an information centre. Other important 19th-century buildings include

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2624-451: The 2021 mayoral by-election following the resignation of long time mayor Margaret Strelow. Margaret Strelow won the mayoral elections in 2013, 2016 and March 2020. Strelow had also served as Mayor of the former City of Rockhampton from 2000 to 2008. The present Rockhampton Regional Council area was formed as a result of the 2008 amalgamation of four local government areas. These were the original City of Rockhampton which comprised most of

2706-551: The Archer brothers constructed a wool shed just downstream of a bar of rocks that prevented further upstream navigation from the coast. These rocks were incorporated with the traditional English term for a village, and the name "Rockhampton" was first coined by Charles Archer and the local Commissioner from Crown Lands, William Wiseman. In 1855, Scottish colonists and brothers William Thomas Elliott and George Mackenzie Elliot arrived at Gracemere and soon after, took up landholdings at Canoona , north of present-day Yaamba . Their father

2788-666: The Australian Café, the brothers renamed it the Busy Bee Café. During the Second World War, a US army base was established outside the city; it hosted up to 70,000 servicemen en route to action in the Pacific and New Guinea . On 2 March 1949, Rockhampton was severely damaged by a cyclone . The Fitzroy River Barrage was commissioned in 1971. The barrage has a capacity of 81,300 megalitres and holds back

2870-714: The Broad Sound Ranges. The Gangulu (Kangulu, Kanolu, Kaangooloo, Khangulu) language region includes the towns of Clermont and Springsure extending south towards the Dawson River , and includes parts of Rockhampton and South Rockhampton. The British colonisation of the area began in 1853, when the Archer brothers , Charles and William, who were seeking grazing lands arrived in the Rockhampton area. They were acting on information from earlier expeditions by Ludwig Leichhardt and Thomas Mitchell , who had explored

2952-709: The Central Queensland Territorial Separation League, the women of Rockhampton established their own separation league in October 1892. The inaugural meeting of the Women's Central Queensland Territorial Separation League was held at the Rockhampton School of Arts and attended by 200 women. Their main focus was preparing a petition to Queen Victoria .  The introductory text set out their grievances and described

3034-588: The Fitzroy River and its many tributaries and lagoons, the region continued to expand rapidly. In 1858, the town of Rockhampton was officially proclaimed. The town was surveyed at this time and the first sales of building allotments were held that year. In 1859, gold was discovered at Canoona. Miners rushed to the new field, using the site of Rockhampton on the Fitzroy River as the nearest navigable port. The Canoona field proved to be very disappointing and thousands of would-be gold seekers were left stranded at Rockhampton. Although many returned south, others stayed, adding to

3116-724: The Fitzroy River, approximately 40 kilometres (25 mi) from the river mouth. The Berserker Range lies on the eastern side of the city, with the Athelstane Range to the west. The coastal area to the east of the city is known as the Capricorn Coast , with the rapidly growing town of Yeppoon its major centre. Rockhampton experiences a humid subtropical climate ( Köppen: Cfa) with hot, humid summers and very mild, relatively dry winters with cool nights. The city receives 116.3 days of clear skies annually, primarily in winter. The highest recorded temperature in Rockhampton

3198-540: The Kensington Estate, described as just three miles from "the most rapidly rising town and district in the whole of the colonies" was advertised for sale. During the 1860s and '70s, Rockhampton developed as the main port for the developing Central Queensland hinterland, the main export at that time being wool. A Primitive Methodist Church opened in Fitzroy Street, Rockhampton, in January 1864. In

3280-713: The Post Office (1892), the Supreme Court House (1888), and St Joseph's Cathedral (1892). In September 1892 the Anglican Church in Rockhampton was the first new building in Rockhampton to be lit by electricity from the new gasworks. It was also the first church in Australia to be lit with electricity. In 1889 the people of Rockhampton established the Central Queensland Territorial Separation League ,

3362-523: The Rockhampton metropolitan area, the Shire of Fitzroy comprising Gracemere and surrounding districts, and the Shire of Mount Morgan around the town of Mount Morgan itself. The fourth local government area was the Shire of Livingstone which comprised the adjacent coastal towns and hinterland to the east and north of Rockhampton as well as some outlying Rockhampton suburbs. However, Livingstone Shire de-amalgamated from Rockhampton Region in 2014 following

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3444-577: The Rockhampton township began in July 1856, when Richard Palmer travelled from Gladstone with an escort of Native Police under sub-Lieutenant Walter Powell to set up a store. Powell arrived at the site first and constructed the Native Police barracks. This was the first habitable British building established at Rockhampton and it was located on the south bank of the Fitzroy River at the end of Albert Street. With abundant grazing lands and waters from

3526-706: The Shark Nightclub, causing injuries and extensive damage to the building. The following year, the Factory Nightclub was also damaged by a bomb. It is not known who planted the bombs. In 2003, Rockhampton was the centre of significant national media interest after local teenager Natasha Ryan was found in the North Rockhampton home of her boyfriend, Scott Black, after being missing for five years. Serial killer Leonard Fraser had been charged with her murder, as her disappearance occurred in

3608-654: The Toonooba River in 1853 and named it in-honour of Sir Charles FitzRoy ; they also named many local landmarks after figures in Norse mythology , including the Berserker Range named after the Norse warrior " Baresark ". The Archer brothers took-up a run near Gracemere in 1855, and more settlers arrived soon thereafter, enticed by the fertile valleys. The town of Rockhampton was proclaimed in 1858, and surveyed to

3690-427: The accounting year. ) So for example if a car manufacturer buys auto parts , assembles the car and sells it, only the final car sold is counted towards the GDP. Meanwhile, if a person buys replacement auto parts to install them on their car, those are counted towards the GDP. According to the U.S. Bureau of Economic Analysis, which is responsible for calculating the national accounts in the United States, "In general,

3772-464: The area in 1844 and 1846 and noted suitable land for grazing then. In January 1854, the New South Wales government proclaimed two new districts: Port Curtis and Leichhardt (roughly today's Fitzroy Region), and the Archer brothers returned in August 1855 to set up their pastoral run at Gracemere . The Fitzroy River provided a convenient waterway for shipping of supplies and produce, and

3854-449: The companies experience difficulty finding local workers to fill vacancies. One meat processing plant is located at Lakes Creek, operated by Teys Australia (a Cargill joint venture) while the JBS meatworks is located at Nerimbera. The Teys Australia meatworks at Lakes Creek was previously owned by Kerry Packer 's Consolidated Meat Group. CMG temporarily closed the facility in 2002. It

3936-540: The concept of GDP should be distinguished from the history of changes in many ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the public sector , by financial industries, and by intangible asset creation is more complex. These activities are increasingly important in developed economies, and the international conventions governing their estimation and their inclusion or exclusion in GDP regularly change in an attempt to keep up with industrial advances. In

4018-401: The country. GDP per capita is often used as an indicator of living standards. The major advantage of GDP per capita as an indicator of the standard of living is that it is measured frequently, widely, and consistently. It is measured frequently in that most countries provide information on GDP every quarter, allowing trends to be seen quickly. It is measured widely in that some measure of GDP

4100-474: The deposits forming a dark grey material known as Sleipner Member . Not all the elevated areas are rhyolite; Mount Dick and Mount MacDonald, are mainly composed of breccia . Historically, the region was home to the Raki-warra clan of the local Darumbal indigenous people. It was named by Rockhampton pioneer pastoralist Charles Archer after the Norse warrior " Baresark ", who fought without armour in

4182-591: The employees of the Elliots. William Thomas Elliot and his men opened fire at random upon the group which fled after a short time. William and an employee were wounded (the employee reportedly died) and about seven of the local inhabitants were killed. Fellow colonist, Charles Archer of Gracemere and a group of Native Police troopers later pursued these Aboriginal people toward the east and punished them further. Local Aboriginal people friendly to Archer were also fired upon, killing one. Permanent British settlement at

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4264-540: The floor and pictures falling off walls. The 1918 earthquake remains as the largest to have ever hit Queensland since European settlement. Restaurant proprietors, Emanuel, William and Nicholas Economos, trading as the Economos Bros., ran their business in East Street, Rockhampton. East Street was a bustling metropolis when the brothers opened their traditional Greek café in the 1920s. Previously known as

4346-661: The historical sites and landmarks of the city include; St Aubins , Kenmore House , the Alexandra Railway Bridge , St Joseph's Cathedral and the nearby Central Park. The Rockhampton Botanic Gardens are one of the oldest public gardens in the country, being founded in 1869 and is also the location of the Rockhampton War Memorial , as well as the Rockhampton Zoo . Rockhampton has nationally prominent cultural institutions, including;

4428-506: The immense size of Queensland: being twelve times the area of England and Wales, and larger than France, Germany, Spain and Portugal combined. The State Library of Queensland holds the original petition, signed by over 3000 women who were in support of Central Queensland becoming a separate state. The petition was forwarded to Queen Victoria but was dismissed by the Premier of Queensland, Sir Samuel Walker Griffith. The City of Rockhampton

4510-553: The income approach. A common one is: The sum of COE , GOS and GMI is called total factor income; it is the income of all of the factors of production in society. It measures the value of GDP at factor (basic) prices. The difference between basic prices and final prices (those used in the expenditure calculation) is the total taxes and subsidies that the government has levied or paid on that production. So adding taxes less subsidies on production and imports converts GDP(I) at factor cost to GDP(I) at final prices. Total factor income

4592-443: The information required (especially information on expenditure and production by governments). The raw GDP figure as given by the equations above is called the nominal, historical, or current GDP. When one compares GDP figures from one year to another, it is desirable to compensate for changes in the value of money—for the effects of inflation or deflation. To make it more meaningful for year-to-year comparisons, it may be multiplied by

4674-684: The international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. GDP is often used as a metric for international comparisons as well as a broad measure of economic progress . It is often considered to be the world's most powerful statistical indicator of national development and progress. However, critics of the growth imperative often argue that GDP measures were never intended to measure progress, and leave out key other externalities , such as resource extraction , environmental impact and unpaid domestic work . Alternative economic indicators such as doughnut economics use other measures, such as

4756-548: The main trees harvested. Grazing ended in 1974 with the conclusion of the last lease, and logging ceased in 1985. Rockhampton, Queensland Rockhampton is a city in the Rockhampton Region of Central Queensland , Australia. In the 2021 census , the population of Rockhampton was 79,293. A common nickname for Rockhampton is 'Rocky', and the demonym of Rockhampton is Rockhamptonite. The Scottish- Norwegian explorers Charles and William Archer came across

4838-636: The new town's population. Conflict with Aboriginal people in the region continued and further massacres occurred. In 1859, John Arthur Macartney attempted to stock his cousin's Belmont property just to the north of Rockhampton when a shepherd was killed by local Aboriginal men. 2nd Lieutenant Frederick Carr of the Native Police together with his troopers, the Macartneys, Peter Fitzallan MacDonald and Henry Brisdon, formed an armed group which set out to track down those responsible. The group followed

4920-598: The only provincial city in Queensland to have a street tramway. Purrey steam trams ran on a number of routes throughout South Rockhampton, totalling 10 kilometres (6.2 mi) of track. The discomfort of passengers riding in steam trams in a tropical climate in part led to their demise in 1939, replaced by a bus network run by the City Council. Strong shaking was felt in Rockhampton when the "Great Queensland Earthquake of 1918" occurred on 7 June 1918. The earthquake

5002-544: The period in which Fraser had abducted and murdered other women and girls. An anonymous tip-off during Fraser's trial led to the discovery of Ryan. Despite Ryan's discovery, Fraser's defence did not seek a mistrial and Fraser was convicted of the murders of other women and girls and was given an indefinite life sentence. On 20 February 2015, Rockhampton was severely damaged by Cyclone Marcia damaging hundreds of homes and businesses with wind speeds over 150 kilometres per hour (93 mph) recorded in Rockhampton. Major flooding

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5084-543: The population is the Per capita income . The international standard for measuring GDP is contained in the book System of National Accounts (2008), which was prepared by representatives of the International Monetary Fund , European Union , Organisation for Economic Co-operation and Development , United Nations and World Bank . The publication is normally referred to as SNA2008 to distinguish it from

5166-430: The previous edition published in 1993 (SNA93) or 1968 (called SNA68) SNA2008 provides a set of rules and procedures for the measurement of national accounts. The standards are designed to be flexible, to allow for differences in local statistical needs and conditions. Within each country GDP is normally measured by a national government statistical agency, as private sector organizations normally do not have access to

5248-512: The products must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying things. The income approach works on the principle that the incomes of the productive factors ("producers", colloquially) must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes. Also known as the Value Added Approach, it calculates how much value

5330-445: The ratio between the value of money in the year the GDP was measured and the value of money in a base year. For example, suppose a country's GDP in 1990 was $ 100 million and its GDP in 2000 was $ 300 million . Suppose also that inflation had halved the value of its currency over that period. To meaningfully compare its GDP in 2000 to its GDP in 1990, we could multiply the GDP in 2000 by one-half, to make it relative to 1990 as

5412-587: The rest of the world minus income payments to the rest of the world. In 1991, the United States switched from using GNP to using GDP as its primary measure of production. The relationship between United States GDP and GNP is shown in table 1.7.5 of the National Income and Product Accounts . Another example that amplifies the difference between GDP and GNI is the comparison of developed and developing country indicators. The GDP of Japan for 2020

5494-408: The same result. They are the production (or output or value added) approach, the income approach, and the speculated expenditure approach. It is representative of the total output and income within an economy. The most direct of the three is the production approach, which sums up the outputs of every class of enterprise to arrive at the total. The expenditure approach works on the principle that all of

5576-401: The source data for the expenditures components are considered more reliable than those for the income components [see income method, above]." Encyclopedia Britannica records an alternate way of measuring exports minus imports: notating it as the single variable NX. GDP can be contrasted with gross national product (GNP) or, as it is now known, gross national income (GNI). The difference

5658-484: The suburbs of Glenlee, Rockyview, and Glendale. The agricultural sector, specifically the cattle trade, is a dominant industry in Central Queensland. The latter has been visually represented around Rockhampton City with a set of seven large statues of bulls known as the ' Big Bulls '. Two large abattoirs are located on the south-eastern outskirts of Rockhampton provides employment for people living in Rockhampton and also for refugees from overseas who are recruited when

5740-536: The total expenditure used to buy things is a way of measuring production. This is known as the expenditure method of calculating GDP. GDP (Y) is the sum of consumption (C) , investment (I) , government expenditures (G) and net exports (X − M) . Here is a description of each GDP component: C , I , and G are expenditures on final goods and services; expenditures on intermediate goods and services do not count. (Intermediate goods and services are those used by businesses to produce other goods and services within

5822-439: The total population of the region is the GDP per capita and can approximate a concept of a standard of living . Nominal GDP does not reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on

5904-475: The tracks and "dispersed" them. One account of this incident describes how around hundred of the tribe were rounded up and "it ended in the usual way and the bulk of the wild mob were shot." By 1861, the town boasted a regular newspaper, banks, court house, and school of arts. Direct shipments of imported goods and migrants from the United Kingdom began to be received during the 1860s. In 1862, land in

5986-406: The wharf caught fire and the line was effectively closed in July 1930. The line to Port Alma closed on 15 October 1986. The significant gold deposit at Mount Morgan to the southwest was discovered in the 1880s, and Rockhampton became the main port through which the wealth of Mount Morgan gold was channelled. Due to the wealth of Mount Morgan, Rockhampton weathered the severe economic depression of

6068-473: The words of one academic economist, "The actual number for GDP is, therefore, the product of a vast patchwork of statistics and a complicated set of processes carried out on the raw data to fit them to the conceptual framework." China officially adopted GDP in 1993 as its indicator of economic performance. Previously, China had relied on a Marxist-inspired national accounting system. GDP can be determined in three ways, all of which should, theoretically, give

6150-469: Was 45.3 °C (113.5 °F), while the lowest was −1.0 °C (30.2 °F). Furthermore, the highest recorded 24-hour rainfall total was 348.0 millimetres (13.70 in) due to the January 2013 Eastern Australia floods . In summer, Rockhampton is subject to summer thunderstorms, and lying within the cyclone risk zone, it has experienced several large floods cyclones since European settlement. This

6232-626: Was James Elliot, 3rd Laird of Wolfelee House near Hawick in Scotland. One of their other brothers was Walter Elliot of the East India Company and secretary to the governor of the Madras Presidency . In January 1856, after a massacre of local Aboriginal people perpetrated by Lieutenant John Murray of the Native Police at nearby Nankin Creek, some 200 Aboriginal men, women and children came to Canoona and began shouting at

6314-586: Was described by the then visiting English novelist, Anthony Trollope as the "City of the Three S's"—"sin, sweat, and sorrow". Subsequent gold discoveries at the Mount Morgan Mine , which was at that time one of the most-productive gold mines in the world, laid the foundations for much of the city's Victorian architecture , and recast Rockhampton into a grand northern city. The economy of Rockhampton has strengths in tourism, health, and agriculture, with

6396-777: Was experienced in the upper reaches of the Fitzroy River after more than 250mm were recorded. The cyclone left about 100,000 properties across Central Queensland without power. According to the 2016 census , there were 76,985 people in Rockhampton. Aboriginal and Torres Strait Islander people made up 7.2% of the population. 82.8% of people were born in Australia. The next most common countries of birth were New Zealand 1.4%, England 1.3%, Philippines 1.1%, India 0.6% and Vietnam 0.4%. 86.4% of people spoke only English at home. Other languages spoken at home included Vietnamese 0.5%, Tagalog 0.5%, Portuguese 0.3%, Filipino 0.3% and Mandarin 0.3% The most common responses for religion were Catholic 26.5%, No Religion 22.6% and Anglican 17.1%. The town lies on

6478-399: Was felt from Mackay in the north, to Grafton in New South Wales, and west to Charleville . Estimated to have reached a 6.0 magnitude, the earthquake caused some damage to buildings including chimney stacks crumbling, plaster being dislodged from walls and ceilings, water tanks bursting and trees being uprooted. Houses and buildings experienced considerable swaying with crockery smashing on

6560-493: Was first developed by Simon Kuznets for a 1934 U.S. Congress report, where he warned against its use as a measure of welfare (see below under limitations and criticisms ). After the Bretton Woods Conference in 1944, GDP became the main tool for measuring a country's economy. At that time gross national product (GNP) was the preferred estimate, which differed from GDP in that it measured production by

6642-487: Was proclaimed in 1902. The rail connection south to Brisbane was completed in 1903, but it was not until 1921 that the northern connection to Mackay was finally completed. A railway west from Rockhampton was started in 1867 and by 1892 had reached the terminus at Longreach , 700 kilometres (430 mi) away. This further strengthened Rockhampton's role as the port for the whole of Central Queensland. A passenger tramway began operating on 16 June 1909, making Rockhampton

6724-564: Was reopened in 2004, when Consolidated Meat Group announced they had formed a joint venture with Teys Australia. In 2011, Cargill bought out CMG's share in the company. Due to drought, floods, general economic conditions and disputes with workers, both facilities have experienced a number of closures over the years including the closure of the Lakes Creek meatworks from 2002 until 2004, but they are both currently operating as normal. The Central Queensland Livestock Exchange at Gracemere

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