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Annual Report 2003/2004 Department of Business Industry and Resource Development



Annual Report 2003/2004 Department of Business Industry and Resource Development

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Tabled paper 1496


Tabled Papers for 9th Assembly 2001 - 2005; Tabled papers for 9th Assembly 2001 - 2005; Tabled papers; ParliamentNT






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Capital Base As of June 2003, the total net capital stock (the written down values of the economys capital stock2) used by all industry sectors in the NT (including government corporations and Commonwealth government agencies and Defence) was estimated at around $26B (derived from ABS 5204.0) assuming the productivity of business and industries is similar in the NT and Australia. This represents about 1.3% of the total net capital stock in Australia. Approximately 40% of the NT capital stock is used in goods producing sectors and 60% "C in services sectors. Sectors with the highest net capital stock include mining (30% of the total), ownership of dwellings (22.3%), transport and storage (8.3%) and government qJ administration and defence (6%). O' Investment O Q_ 03 Capital investment by business to increase NT industry capacity has more than trebled c during the decade to $2.513B in 2003-04. Capital investments by NT industries and C businesses for items such as machinery, equipment, buildings and structures in the NT ^ increased by 11% in 2003-04 compared to 2002-03. Figure 4: Total Capital Investment in the Northern Territory Public capital investment Private business investment 2003-04 2002-03 500 1000 1500 2000 2 500 3000 Value ($M) Performance Income, Prices and Wages In the ABS Business Indicators (ABS 5676.0) for 2003-04, the income from the sales of goods and services by selected private sector employing businesses (excluding agriculture, central banking, insurance, education, health and community services) was an estimated $10 660M (an increase of approximately 3.5% over 2002-03), with sales improving during the second half of 2003-04. Nationally, the sale price index of goods and services increased by 4.4%. An estimated $1 827M of salaries and wages was earned in the NT by all the sectors during 2003-04 (11.3% increase). Goods and Services According to the ABS publication, Experimental Estimates, Australian Industry, A State Perspective (ABS 8155.0), for 2000-01, NT business entities, excluding the general government sector, produced around $12 244M worth of goods and services (5.6% increase compared to 1999-2000). The services sector accounted for about 58% of business income. The employing sectors of goods and services businesses generated the bulk (estimated 95%) of the operating income. 2 These represent the net present values of the future capital services to be provided by the assets. Department of Business, Industry & Resource Development 15

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