Territory Stories

Budget Paper No5 Northern Territory Economy 1998/99

Details:

Title

Budget Paper No5 Northern Territory Economy 1998/99

Other title

Tabled Paper 382

Collection

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

Date

1998-04-28

Description

Tabled by Michael Reed

Notes

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.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/295415

Citation address

https://hdl.handle.net/10070/395002

Page content

The TDZ offers bonded warehouse facilities (where import duties are rebated on imported inputs to the manufacturing process if the final product is exported). It also allows businesses to take advantage of tax concessions, and it offers administrative services. Currently 44 businesses operate in the TDZ. Enterprises presently established provide a wide range of manufactured products, including: precision engineered components; chemicals for mining; industrial lubricants for oil drilling rigs; power systems for remote areas and cardboard manufacturing. MANUFACTURING OUTLOOK Manufacturing output in the Territory is expected to continue expanding in future years. The Australian Bureau of Agriculture and Resource Economics has forecast an increase in world alumina prices and demand in 1998, which should increase Australian exports of alumina, and raise the value of alumina produced in the Territory. On this basis, Nabalco is seeking to expand its Nhulunbuy alumina processing plant. Continued growth in the Territory's construction industry will generate new opportunit ies for manufacturers of fabricated construction materials. This demand will be augmented by the building of several large projects, such as the proposed Adelaide to Darwin Railway; Stages II and III of the Darwin Port; the offshore oil and gas supply base; and the proposed Liquid Natural Gas (LNG) plants. The operation of a LNG plant in particular will influence the level of manufactured output in the Territory, both directly and through associated manufacturing opportunities. Continuing steady growth in population and consumer demand is expected to consolidate growth in food and beverage processing. As the Territory economy develops a more sophisticated manufacturing capacity, an increasing number of products, previously imported into the Territory, will be able to be manufactured locally. Local manufacturers are increasingly exploring opportunities in external markets. Despite the recent downturn in prospects for South East Asian markets, Darwins close proximity to these areas should continue to present niche opportunit ies for manufacturing businesses. The Northern Territory Government's promotion of Darwin as a multi modal transport hub, and its commitment to facilitating export infrastructure (including the Darwin to Adelaide railway), will lay the groundwork for furthering the industry's continued expansion and export capacity. 72 Northern Territory Economy 0 10 20 30 40 50 60 Metal products Food, beverage Printing, publishing Machinery, equipment Wood, paper products Other manufacturing Non-metallic minerals Textile, clothing Petroleum products Turnover Wages/Salaries Employment Percentage of Manufacturing Industry Figure 12.1 MANUFACTURING EMPLOYMENT Source: ABS Cat. No. 8201.0, 1995-96


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