Territory Stories

Budget 2013/14 Northern Territory Economy

Details:

Title

Budget 2013/14 Northern Territory Economy

Other title

Tabled paper 295

Collection

Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT

Date

2013-05-14

Description

Tabled by David Tollner

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

Publisher name

Department of the Treasury and Finance

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C00866

Parent handle

https://hdl.handle.net/10070/273751

Citation address

https://hdl.handle.net/10070/426369

Page content

12 Structure of the Economy 2013-14 Budget The fifth largest industry in the Territory is manufacturing, which has been a major driver of export growth since 2006 when the Darwin LNG plant commenced production. Unlike in other Australian jurisdictions, manufacturing in the Territory is dominated by a small number of large resource-based processing facilities, namely the Pacific Aluminium alumina refinery at Gove and the Darwin LNG plant at Wickham Point, including the attached BOC Limited helium plant. Tourism is also an important industry in the Territory, creating demand and generating employment in a range of related industries. However, as tourism is not identified as an industry or product in international statistical standards it is not included in the Australian Bureau of Statistics (ABS) National Accounts framework. To resolve this, the ABS produces a tourism satellite account outlining the contribution of tourism to the national economy. From this publication TourismResearch Australia (TRA) derives estimates of the contribution the tourism industry makes to each state and territory economy, with the latest data being for 2010-11. TRA estimates that in 2010-11, the tourism industry accounted for 4.3 per cent of Territory GSP compared with 2.5percent nationally. In 2011-12, the proportion of the Territorys economic production attributable to service industries (all industries excluding agriculture, forestry and fishing, mining and manufacturing) was 67.4percent, significantly below the 74.5percent nationally. Over the ten years to 2011-12, the proportion of economic production attributable to public administration and safety has gradually declined. As the Territory economy has continued to diversify over this period, mining has remained the main contributor (by value) to GSP except for a brief period in 2004-05 (Chart1.2). Construction was the largest industry at this time due to the development of major projects including the construction of the DarwinLNG plant and the multi-billion dollar expansion of the alumina refinery at Gove. 1 Current prices Source: ABS Cat. No. 5220.0 Chart 1.2: Industry Proportion of GSP, 200102 to 2011121 0 5 10 15 20 25 02 03 04 05 06 07 08 09 10 11 12 % Year ended June Manufacturing Construction Public administration and safety Transport, postal and warehousingMining Healthcare and social assistance


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