Territory Stories

Budget 2013/14 Northern Territory Economy



Budget 2013/14 Northern Territory Economy

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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.




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Department of the Treasury and Finance

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International Trade 91 Northern Territory Economy Total Exports Total Imports Trade Balance Ratio of Trade Balance to GSP/GDP $M $M $M % New South Wales 43 927 87 890 44 053 9.9 Victoria 22 970 59 300 36 330 11.3 Queensland 53 198 38 773 14 425 5.1 Western Australia 118 591 33 347 85 244 36.1 South Australia 11 631 7 159 4 472 4.9 Tasmania 3 224 926 2 298 9.4 Australian Capital Territory 12 22 10 0.0 Northern Territory 5 098 3 540 1 558 8.6 Australia 258 652 231 048 27 604 1.9 GSP: gross state product; GDP: gross domestic product 1 Inflation adjusted, base year 201011 Note: Negative () values indicate a deficit in the goods trade balance. Source: Department of Treasury and Finance; ABS Cat. Nos 5222.0, 5206.0 Merchandise Goods Exports Territory merchandise goods exports are dominated by manufacturing exports (such as liquefied natural gas (LNG) and alumina) and mining exports (such as manganese, zinc/lead concentrates, iron ore, crude oil, uranium and condensate). In 201213, LNG is estimated to account for the largest proportion of international goods exports from the Territory (49percent), followed by the mineral and energy products listed above (20.6percent) and alumina. Other major international goods exports in 201213 include live cattle and construction materials. The inflationadjusted value of international goods exports from the Territory is estimated to increase from $5.1billion in 201112 to $6.2billion in 201213 (up by 20.6percent). Estimated growth is due to a 19.6percent increase in LNG exports from the ConocoPhillips Darwin LNG plant, as production returns to near capacity following a scheduled maintenance shutdown in 201112 (see Chapter 11: Construction). Goods exports are also expected to be driven by increasing alumina exports, which are expected to be partly offset by a decline in live cattle exports to Indonesia as the number of permits issued to Territory exporters continued to decline in 201213 (seeChapter12: Agriculture, Forestry and Fishing). Table 8.1: International Merchandise Goods Trade1, 201112