Territory economic review
NT Treasury, Economic and Social Analysis Unit
Territory economic review; Department of Treasury and Finance newsletters; PublicationNT; E-Journals
2012-05-01
Date:2012-05; Made available via the Publications (Legal Deposit) Act 2004 (NT).; This publication contains may contain links to external sites. These external sites may no longer be active.
English
Northern Territory -- Economic conditions -- Periodicals
Northern Territory Government
Darwin
application/pdf
Northern Territorty Government
https://hdl.handle.net/10070/248607
https://hdl.handle.net/10070/570483
Territory Economic Review May 2012 Economic Group Northern Territory Treasury (08) 8999 6801 www.nt.gov.au/ntt/ economicservices.ntt@nt.gov.au - 14 - Private New Capital Expenditure, Inflation Adjusted In the December quarter 2011, private new capital expenditure in the Territory increased by 6.8 per cent to $392 million in trend terms (see chart). Nationally, private new capital expenditure increased by 5.9 per cent to $38.7 billion over the same period. In the year to December 2011, private new capital expenditure decreased by 2.3 per cent to $1.5 billion, driven by a 26.7 per cent decrease in equipment plant and machinery expenditure to $625 million, which was partly offset by a 29.7 per cent increase in buildings and structures to $847 million (see chart) which has been relatively stable since the March quarter 2010. Included in structures is the oil platform for the Kitan field. The fall in private new capital expenditure in the year to December 2011 reflects a return towards long-term trend levels (excluding major projects) following the completion of a number of large mining projects. Mineral and Petroleum Exploration updated The ABS reports that oil and gas exploration expenditure in the Territory decreased by 6.5 per cent to $53.3 million in the December quarter 2011. Mineral exploration decreased by 6.3 per cent over the same period. The decrease was primarily driven by decreasing exploration for copper, uranium and selected base metals. In 2011, mineral and energy exploration expenditure in the Territory increased by 37.0 per cent to $378.4 million (see chart). Growth was driven by a 57.4 per cent increase in gold exploration expenditure, as well as a 32.0 per cent increase in exploration for selected base metals Nationally, total mineral and energy exploration expenditure rose by 5.5 per cent in the December quarter and by 13.3 per cent in 2011. Private New Capital Expenditure* (Latest data December quarter 2011) * moving annual total, chain volume Source: ABS Cat. No. 5625.0 Mineral and Petroleum Exploration* (Latest data December quarter 2011) * moving annual total, original data Source: ABS Cat. Nos. 8412.0 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Year ended June Total Buildings and Structures Equipment Plant and Machinery $B $B 0 50 100 150 200 250 300 350 400 450 0 50 100 150 200 250 300 350 400 450 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Minerals Oil and Gas Year ended June $M $M Total