Territory Stories

Budget 2007-2008 Northern Territory Economic Overview



Budget 2007-2008 Northern Territory Economic Overview

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Tabled paper 865


Tabled papers for 10th Assembly 2005 - 2008; Tabled papers; ParliamentNT




Tabled By Sydney Stirling


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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Northern Territory 007-08 budget Rural Industries and Fisheries Rural industries and fisheries accounted for 2.3 per cent of Territory GSP in 2005-06 and 3.1 per cent of resident employment. The Territory enjoys certain comparative advantages due to its capacity to supply markets with a range of early season and out of season produce, and benefits because of its environmentally clean image. Output growth in the industry tends to be volatile due to variable weather conditions, while the exchange rate can have a significant effect on international demand. In the Territory, average annual output growth has been lower than broader economic growth over the past 10 years. The value of rural industries and fisheries production is estimated to be $539 million in 2006-07, an increase of 12 per cent from 2005-06. The value of production is forecast to increase by 6.5 per cent to $574 million in 2007-08. 0 50 100 150 200 250 300 350 400 450 500 550 600 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07e 08f Total Cattle Fisheries Horticulture Other $M Year ended June Rural Industries and Fisheries Value of Production (nominal dollars) e: estimate; f: forecast Note: Horticulture data is only available for calendar years Source: Department of Business, Economic and Regional Development

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