Territory Stories

Budget papers 2008 - 2009

Details:

Title

Budget papers 2008 - 2009

Other title

2008/09 Budget paper

Creator

Northern Territory. Department of Treasury

Collection

Northern Territory budget papers; Reports; PublicationNT

Date

2008-05-06

Notes

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Appropriations and expenditures; Periodicals; Budget; Finance, Public

Publisher name

Northern Territory Government

Place of publication

Darwin

Volume

2008/09

File type

application/pdf

Use

Attribution International 4.0 (CC BY 4.0)

Copyright owner

Northern Territory Government

License

https://creativecommons.org/licenses/by/4.0/

Parent handle

https://hdl.handle.net/10070/244906

Citation address

https://hdl.handle.net/10070/591614

Related items

https://hdl.handle.net/10070/591610; https://hdl.handle.net/10070/591616; https://hdl.handle.net/10070/591612; https://hdl.handle.net/10070/591602; https://hdl.handle.net/10070/591605; https://hdl.handle.net/10070/591607; https://hdl.handle.net/10070/591608

Page content

9Economy Overview Mining and Energy In terms of output, mining is the largest industry in the Territory, accounting for 26 per cent of GSP in 2006-07, compared to 7 per cent nationally. Mining output is volatile as production is dominated by a small number of large projects. Global supply and demand conditions and the impact of exchange rate movements on competitiveness are key factors affecting production levels and price. The value of Territory mining output has grown substantially in recent years, driven by increased gas and condensate production from the Bayu-Undan field, as well as increases in mineral commodities such as manganese and lead-zinc. Further increases are expected in the next few years, driven by increased production and strong growth in prices of several key commodities. Mineral and energy production is estimated to increase by 7.7 per cent to $5.6 billion in 2007-08. Substantially higher growth of 34.8 per cent is forecast in 2008-09, due mainly to an 84 per cent increase in the value of manganese production as well as considerable gains in offshore gas and liquid production. In the medium term, high levels of exploration expenditure are expected to continue, supported by ongoing strong commodity prices and Territory Government initiatives. e: estimate; f: forecast Source: Northern Territory Treasury; Department of Business, Economic and Regional Development; Department of Primary Industry, Fisheries and Mines 0 1 2 3 4 5 6 7 8 99 00 01 02 03 04 05 06 07 08e 09f Total Energy Minerals $ B Year ended June Value of Mineral and Energy Production and Processing (nominal dollars)