REMPLAN 3 Gap Analysis Module
What are the economic opportunities for your area?
Economic opportunities for your area may be on a distant horizon in industries that haven’t even been thought of yet. Other opportunities will be realised through building on existing strengths in your local economy or through addressing current weaknesses. REMPLAN assists in understanding the structure of your economy.
REMPLAN provides detailed insights for your area’s economy in terms of output, employment, wages and salaries, exports and value-added for up to 109 industry sectors. Imports from overseas and the rest of Australia are also detailed.
Imports reflect demand in your area’s economy for goods and services not supplied locally and therefore represent “Gaps” in local supply chains. Many of the goods and services imported from overseas are priced at a level making substitution with local supply unlikely and in instances, unfeasible. Imports from the rest of Australia however may indicate opportunities for import replacement, increased value-adding and supply chain development in your area. Supply of these goods and services is currently feasible in the Australian context and may provide a guide to realistic, high value strategic opportunities to further develop your local economy. The total replacement of imports with local production is improbable however it may be possible to capture a proportion of this escape expenditure.
REMPLAN estimates the value of imports by each industry sector. The Gap Analysis Module goes beyond this to address the types of goods and services imported into the local economy.
The Gap Analysis Module integrates with REMPLAN and automates and organises the process of identifying potential opportunities for import replacement, increased value-adding and supply chain development, for up to 109 industry sectors. The Gap Analysis Module has been designed to be easy to use with compelling graphs, tables and charts together with informative commentary. A formal background in economics is not required.