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.
International Trade Although the Territorys export performance during 1993/94 was dominated by exports o f minerals and oil, reflecting the significance of the export oriented mining sector to the Territory economy, the Territorys export profile continued to diversify with exports o f primary produce recording further gains, albeit from a small base. Imports as a percentage o f exports fell from 31.4% to 18.4%, between 1991 and 1993, increasing the Territorys net exports with the rest o f the world. W hile Territory exports as a percentage o f Australian exports declined marginally from 2.3% in 1992 to 2.1% in 1993, exports per capita remained over twice the national average at $7 603 versus $3 544 nationally. Figure 6.1 shows the Territorys international trade performance. The dramatic increase in exports which occurred in 1990/91 largely reflects an increase in the value o f oil production, and subsequent exports, during the G ulf War. Figure 6.1 Northern Territory International Trade $ million 2000 1800 1600 1400 1200 1000 800 600 400 200 0 1987/88 1988/89 1989/90 1990/91 1991/92 1992/93 1993/94* Source: ABS Foreign Trade Statistics * NT Treasury estimate 3 1