Territory Stories

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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consumer durables such as cars, furniture and appliances; consumer semi-durables such as clothing and utensils; single-use goods such as food, cigarettes and alcoholic drinks; and services such as medical care, recreation, public transport and education. With the inclusion of public consumption expenditure, total final consumption expenditure provides a broad measure of goods and services sold and is an indicator of government and consumer demand. In 1997-98, total final consumption expenditure in the Territory is estimated to account for approximately 79% of the Territorys GSP. This is slightly higher than the national economy where total final consumption expenditure contributes about 76% of GDP. In the Territory, public final consumption represents approximately 39% of GSP compared to 16% for the national economy. For 1997-98, estimated Territory real final consumption expenditure increased at a faster rate than nationally. As in the previous year, growth in final consumption expenditure in the Territory in 1997-98 will predominantly occur in the private sector. While growth in private final consumption is estimated to increase by 7.5%, public final consumption is estimated to increase by only 4.6%, reflecting the Northern Territory Governments budget management targets and the Commonwealth Governments continued budget restraint. Compared to the national average, Territory consumers and businesses spend: relatively more on food, and tobacco and alcohol - due in part to the higher cost of freighting most lines of food products into the Territory and less competition to drive prices down; and relatively less on dwelling rent, including imputed rent for home owners/buyers this is indicative of both the affordability of mortages in the Territory and large proprotion of Territory households in subsidised public housing. 75 Wholesale and Retail Trade 0 5 10 15 20 25 Food All Other Goods and Services Travel and Communication Dwelling Rent Clothing and Household Durables Tobacco and Alcohol Health Services Gas, Electricity and Fuel Northern Territory Australia % of Private Final Consumption Expenditure Figure 13.3 PRIVATE FINAL CONSUMPTION EXPENDITURE Source: ABS Cat. No. 5220.0, 1995-96

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