Budget Paper 1994-95 No.6 Northern Territory Economy
Tabled Paper 2156
Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT
Tabled by Barry Coulter
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.
Economic Growth N orthern Territory GSP increased in nom inal term s by an estim ated 1.0% during 1993/94, up from a decline o f 1.0% in the previous year. In com parison, the national economy grew by an estim ated 3.5% in 1993/94. U sing the incom e based GSP m easure, the growth in Territory GSP in 1993/94 reflects an estim ated rise o f 1.0% in wages, salaries and supplem ents (W SS) com bined with an increase o f 1.0% in gross operating surplus (GOS) and no change in indirect taxes less subsidies (ITLS). N ationally, in 1993/94 increases were recorded in W SS, GOS and ITLS. Figure 2.2 shows Territory nom inal GSP on an incom e basis for the period 1985/ 8 6 to 1993/94. As w ell as the incom e based GSP m easure, the A ustralian B ureau o f S tatistics (ABS) publish quarterly and annual expenditure based GSP m easure for States and Territories. However, to date only the com ponents o f final dem and (com prising private and public consum ption and investm ent expenditure) can be reliably estim ated. C onsequently, a residual category, the balancing item, remains which cannot be disaggregated into its com ponent parts o f net interstate and in ternational trade, and change in stocks. The balancing item is derived as the difference betw een expenditure based final dem and and incom e based GSP, and as such does not enable m eaningful analysis o f the com ponents it conceptually represents. Figure 2.2 Northern Territory Gross State Product H Gross Operating Surplus H W ages, Salaries & Supplements I Indirect Taxes less Subsidies $bn 5 86/87 87/88 88/89 89/90 90/91 91/92 92/93 93/94* 94/95# c* * nc- . kt c-i-n c \ * N T Treasury estimate, # forecastSource: ABS Cat. No. 5242.0 3 8