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Budget Paper No5 Northern Territory Economy 1998/99



Budget Paper No5 Northern Territory Economy 1998/99

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Tabled Paper 382


Tabled papers for 8th Assembly 1997 - 2001; Tabled papers; ParliamentNT




Tabled by Michael Reed


Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.




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forecast to double over the next thirteen years. This will generate demand for many health and other services that currently do not exist in the Territory. The population age structure also has implications for the rate of household formation which drives the demand for housing. Between June 1991 and June 1996, the number of occupied private dwellings increased by 13.6% from 50 542 to 57 435. This rate of growth is significantly higher than the comparable population growth of 10.9%. Population Outlook The Territorys population growth in the short to medium term will continue to be underpinned by a high rate of natural increase due to the Territorys relatively young population profile, as well as the high proportion of Aboriginals. The ageing of the Territory population is expected to continue. The net interstate migration gains of the last three years are expected to continue until at least 2001 as a direct result of the substantial defence expansion in the Top End. These migration gains will be underpinned by the prospect of jobs growth as the development of offshore oil and gas deposits in the Timor Sea, the railway, and other major projects proceed. The population growth prospects are bright for 1998-99 as this year represents the peak of the APIN program. Some 500 personnel of the 5th/7th Regiment together with 700 dependants are programmed to move from Sydney to Darwin in 1998-99. This will ensure that population growth for 1998 will be higher than 1997, at around 2.5%. The latest series of population projections published by the ABS show that by the year 2006 the population of the Territory will be between 198 200 and 206 300. This indicates an average annual population growth rate of between 1.1% and 1.5% over the next ten years, compared with the national average annual growth rate of between 1.0% to 1.2% over the same period. These projections are considered to be conservative and growth in the range 1.7-2.0% per annum is considered more likely. The continued strong performance of the Territory economy will see the Territory population continue to grow at a more rapid rate than the national average. 6 Northern Territory Economy

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