Territory Stories

Budget Paper No.6 1997/98 Northern Territory Economy

Details:

Title

Budget Paper No.6 1997/98 Northern Territory Economy

Other title

Tabled Paper 3223

Collection

Tabled Papers for 7th Assembly 1994 - 1997; Tabled papers; ParliamentNT

Date

1997-04-30

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/10070/289257

Citation address

https://hdl.handle.net/10070/404114

Page content

International Trade The Territory continues to be a substantial net exporter with an estimated merchandise trade surplus of $841 million in 1996-97 or 15% of GSP. Australia by contrast has an estimated trade deficit of $2.1 billion or 0.4% of GDP. It is estimated that, for the Territory, imports as a percentage of exports increased marginally from 32.6% to 32.7% between 1995-96 and 1996-97, the result of a 3.2% increase in exports being slightly offset by a 3.5% increase in imports during this period. Due to coverage and timing factors, trade figures used in this chapter differ slightly from those in Chapter 2. While Territory exports as a percentage of Australian exports remained stable at 1.6% in 1996-97, exports per capita at $6 909 were over 60% greater than the national average of $4 175. The growth in exports in 1996-97 continues the increase recorded last year after declines in exports (primarily oil) had been recorded over the four years to 1994-95. The largest contributors to this growth were increases in commodity exports, as well as oil and live cattle. Territory imports of iron, steel and manufactured metals were primarily responsible for the recorded increase in 0 500 1 000 1 500 2 000 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97* International Trade Exports Imports Source: ABS Foreign Trade Statistics * NT Treasury estimate $ million Figure 3.1 15


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