Budget 2013/14 Northern Territory Economy
Tabled paper 295
Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT
Tabled by David Tollner
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.
Department of the Treasury and Finance
Structure of the Economy 11 Northern Territory Economy The mining and construction industries have experienced strong growth indirectly driven by the expansion of emerging economies such as China. The significant expansion in these economies has driven demand and prices for commodities globally, fuelling an increase in demand for Territory resources. The construction industry accounted for 11.6per cent of Territory GSP in 2011-12, making it the second largest industry (by value) in the Territory. Activity in the year was primarily driven by the development of major projects in the mining and manufacturing sectors such as the Kitan and Montara oilfields and the scheduled maintenance shutdown of the ConocoPhillips Darwin liquefied natural gas (LNG) plant in May and June2012. It also included expansion activity at the GEMCO manganese processing plant on Groote Eylandt and Xstrata Zincs zinc/lead McArthur River Mine near Borroloola. The Territory Governments capital works program also supported construction activity during 2011-12, with infrastructure expenditure over the year at high levels. 1 Current prices Source: ABS Cat. No. 5220.0 The third largest industry in the Territory is public administration and safety, which incorporates government administration, law and order, power and water and defence. In 2011-12, public administration and safety contributed 8.1percent to economic activity in the Territory compared with 4.8percent nationally. The relatively large size of the public administration and safety industry in the Territory reflects the higher per unit costs of providing a comprehensive range of government services to a dispersed and small population characterised by higher than average service delivery needs. The defence presence in the Territory is also relatively large compared with other jurisdictions, due to the Territorys strategic importance in the Australian defence network. The fourth largest industry in the Territory is healthcare and social assistance, with services predominantly delivered by the Commonwealth and Territory governments. The relatively large size of this industry is driven by similar factors to public administration and safety. 0 2 4 6 8 10 12 14 16 18 20 Agriculture, forestry and fishing Mining Manufacturing Electricity, gas and water Construction Wholesale trade Retail trade Accommodation and food services Transport, postal and warehousing Information media and telecommunications Financial and insurance services Rental, hiring and real estate services Professional, scientific and technical services Administrative and support services Public administration and safety Education and training Health care and social assistance Arts and recreation services Other services Ownership of dwellings % Northern Territory Australia Chart 1.1: Industry Proportion of GSP and GDP, 2011121
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