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

Retail and Wholesale Trade 85 Northern Territory Economy decline in other recreational goods turnover, while pharmaceutical, cosmetic and toiletry goods retailing was unchanged. The weak performance of other retailing largely reflects the increase in online shopping. Chart 7.3 shows that online retailing is dominated by items that fall under the other retailing category. As such, the limited presence of Territory retailers online has had a significant impact on other retailing in the Territory. 1 Domestic and international online retail sales Source: National Australia Bank Given the continuing increase in online shopping, it is expected that the weak performance of other retailing in the Territory will continue in 201213. Further, as this category is comprised entirely of discretionary goods, consumers are expected to spend a lower proportion of disposable income on these items in response to rising costs of some essential goods. Outlook In 201314 and over the forward estimates period, the Territory Governments focus on developing a threehub economy is expected to support retail trade in the Territory through the creation of jobs, particularly in the energy sector and the related support industries. Further, one of the Territory Governments main aims in developing a threehub economy is to strengthen tourism in the Territory. Through increased tourist arrivals into the Territory, the development of a threehub economy is expected to support the retail sector, such as the cafs, restaurants and takeaway food services category, due to tourists reliance on these services. Major projects in the Territory typically support retail trade through increased household disposable income and, where workers are employed from interstate and overseas, an increase in the number of consumers in the market. In 201314, retail trade in the Territory is expected to be supported by increased construction activity on the INPEX and Total joint venture Ichthys project and the anticipated commencement of construction of a gas pipeline to the Pacific Aluminium alumina refinery in Gove, which will support employment and wages growth through new engineering jobs. These projects are also expected to support an increase in temporary and permanent migration to the Territory, increasing the number of consumers in Chart 7.3: Online Retail Trade1 by Category, Australia (year to January2013) Online auctions, department stores, fashion, cosmetics, variety stores 47% Home, furniture, appliance, electronics 19% Recreation, toys, games and hobbies, music, movies, books 21% Groceries, liquor, specialised food 13%


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