Territory Stories

Territory economic review

Details:

Title

Territory economic review

Creator

NT Treasury, Economic and Social Analysis Unit

Collection

Territory economic review; Department of Treasury and Finance newsletters; PublicationNT; E-Journals

Date

2012-05-01

Notes

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.

Language

English

Subject

Northern Territory -- Economic conditions -- Periodicals

Publisher name

Northern Territory Government

Place of publication

Darwin

File type

application/pdf

Copyright owner

Northern Territorty Government

Parent handle

https://hdl.handle.net/10070/248607

Citation address

https://hdl.handle.net/10070/570483

Page content

Territory Economic Review May 2012 Economic Group Northern Territory Treasury (08) 8999 6801 www.nt.gov.au/ntt/ economicservices.ntt@nt.gov.au - 5 - Territory Investment In seasonally adjusted terms, total investment expenditure in the Territory increased by 18.9 per cent to $1.5 billion in the December quarter 2011. Private sector investment, the largest component of total investment, increased by 26.8 per cent to $1.1 billion. The increase mainly reflects an 83.2 per cent increase in non-dwelling construction and a 34.0 per cent increase in business investment. Public sector investment partly offset these increases by decreasing 0.5 per cent over the same period. In the year to December 2011, total investment in the Territory decreased by 4.0 per cent to $5.2 billion. The decline was driven by a fall in public sector activity as a number of stimulus projects wind up. This was partly offset by a rise in private investment. Nationally, investment expenditure decreased by 1.1 per cent in the December quarter 2011 and increased by 7.2 per cent to $388 billion in the year. Territory Consumption In the December quarter 2011, seasonally adjusted consumption expenditure increased by 1.3 per cent in the Territory compared to the previous quarter. Public consumption increased by 3.0 per cent, while household consumption was flat. In the year to December 2011, Territory consumption expenditure increased by 2.9 per cent to $14.2 billion. Growth in consumption was primarily driven by a 4.0 per cent increase in public consumption expenditure. Household consumption, the largest component of consumption expenditure, increased by 2.0 per cent over this period. Nationally, consumption expenditure increased by 3.0 per cent to $989 billion over the same period. International Merchandise Goods Trade In January 2012, the Territorys goods exports decreased by 13.8 per cent, while goods imports fell by 5.3 per cent. The decrease in exports reflects a 22 per cent fall in gas exports over the month. The Territorys nominal international goods trade surplus decreased by 40.8 per cent to $1.2 billion in the year to January 2012 (see chart). The value of Territory goods exports over this period decreased by 5.3 per cent to $5.2 billion. In the year to January 2012, the value of goods imports to the Territory increased by 14.2 per cent to $4.0 billion, primarily reflecting an increase in feedstock gas for the Darwin LNG plant. In the year to January 2012, Australias trade surplus stood at $15.6 billion, a 7.5 per cent decrease. Territory Private Investment* (December quarter 2011) * moving annual total, inflation adjusted Source: ABS Cat. No. 5206.0, NT Treasury Territory Consumption Expenditure* (December quarter 2011) *Inflation adjusted Source: ABS Cat. No. 5206.0, NT Treasury International Merchandise Goods Trade (NT)* (Latest data January 2012) * moving annual total, current prices Source: ABS Cat. No. 5439.0 0 1 2 3 4 5 6 7 0 1 2 3 4 5 6 7 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Year ended June Total Investment Private Investment Public Investment $ Billion $ Billion 2.0 4.0 -2.5 0.0 2.5 5.0 7.5 10.0 -2.5 0.0 2.5 5.0 7.5 10.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Private Public Year ended June Per cent Per cent -1 0 1 2 3 4 5 6 7 0 1 -1 0 1 2 3 4 5 6 7 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Year ended June $ Billion $ Billion Exports Imports Balance of Trade