Budget 2013/14 Northern Territory Economy
Tabled paper 295
Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT
Tabled by David Tollner
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Department of the Treasury and Finance
94 International Trade 2013-14 Budget Merchandise Imports Merchandise imports to the Territory in 201213 will comprise feedstock gas and petroleum products (automotive and aviation fuel), which is estimated to account for about 66.1percent of total goods imports. Other major imports include machinery and equipment, which are predominantly used in the construction and mining industries (Chart8.3). In 201213, the value of international goods imports to the Territory is estimated to increase from $3.5billion in 201112 to $5.0billion in 201213 (up by 41.2percent). The increase is largely due to higher machinery and equipment imports (up by 171.8percent), as a result of the importation of the Montara Venture floating, production, storage and offload (FPSO) facility (see Chapter 10: Mining and Manufacturing), as well as imports of feedstock gas from the BayuUndan fields in the Joint Petroleum Development Area (JPDA) for processing at the Darwin LNG plant (up by 17.4percent). Substantial growth in petroleum imports from Singapore, mainly driven by increased consumption of fuel required for the development of major projects, is also expected in 201213. e: estimate; f: forecast 1 Inflation adjusted, base year 201011 2 Mainly consists of bunker oil imports from Kuwait Source: Department of Treasury and Finance; ABS Cat. No. 5368.0 In 201213, the JPDA is estimated to be the Territorys largest source of imported goods, namely feedstock gas for the Darwin LNG plant. The JPDA in the Timor Sea is jointly managed by Australia and TimorLeste and is classified by the ABS as a separate economic entity for international trade purposes (see Chapter 10: Mining and Manufacturing). Singapore was the second largest source of imported goods to the Territory, mainly due to petroleum imports (unleaded petrol, diesel and aviation fuel), followed by Kuwait, which is the source market of bunker oil used to power the Pacific Aluminium refinery at Gove. The other top ten sources of international imports for the Territory were China, Japan, US, South Korea, Thailand, Taiwan and the Netherlands (Chart8.4). The Netherlands inclusion in this list relates to the importation of a number of dredging ships, such as the Athena, in late October 2012, that are used to dredge DarwinHarbour so future LNG ships are able to access the IchthysLNG plant at Blaydin Point. Chart 8.3: Territory Merchandise Imports, 200102 to 2012131 (moving annual total) 0 1 2 3 4 5 6 7 8 02 03 04 05 06 07 08 09 10 11 12 13e 14f 15f 16f 17f Total imports Petroleum and gas Machinery and transport equipment Confidentialised items2 $B Year ended June Key Import Markets
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