Territory Stories

Budget papers 2007 - 2008

Details:

Title

Budget papers 2007 - 2008

Other title

2007/08 Budget paper

Creator

Northern Territory. Department of Treasury

Collection

Northern Territory budget papers; Reports; PublicationNT

Date

2007-05-01

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

2007/08

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/10070/244905

Citation address

https://hdl.handle.net/10070/591630

Related items

https://hdl.handle.net/10070/591624; https://hdl.handle.net/10070/591625; https://hdl.handle.net/10070/591628; https://hdl.handle.net/10070/591632; https://hdl.handle.net/10070/591634; https://hdl.handle.net/10070/591619; https://hdl.handle.net/10070/591621; https://hdl.handle.net/10070/591623

Page content

7Economy Overview International Trade In 2006-07, the Northern Territorys international trade surplus (that is, exports of goods and services less imports of goods and services) increased to an estimated $2.6 billion, up from the $179 million surplus in 2005-06. The Territorys international merchandise trade balance increased to an estimated $2.1 billion in 2006-07, up from the $230 million deficit in 2005-06. Mineral ores, mineral fuels and services related to international visitors (tourists and foreign defence personnel) dominate international exports in the Territory. In 2006-07, merchandise exports increased by 71 per cent to an estimated $4.5 billion, largely due to increased global commodity demand and prices. Merchandise exports are forecast to increase to an estimated $4.7 billion in 2007-08, supported by a second full year of LNG production, manganese from Bootu Creek mine and alumina from Alcans Gove refinery. The major Territory imports are machinery and equipment (mostly industrial equipment for mining and construction activities) and refined fuels. In 2006-07, imports decreased by an estimated 16 per cent to $2.4 billion, and are forecast to decline by a further 14 per cent to $2.1 billion in 2007-08. The decline is primarily due to lower demand for machinery and transport equipment (particularly for major oil and gas projects), and a reduction in national aircraft imports via Darwin. -1 0 1 2 3 4 5 6 98 99 00 01 02 03 04 05 06 07e 08f Exports Imports Trade balance Year ended June $BTerritory International Merchandise Trade (moving annual total) e: estimate; f: forecast Source: Northern Territory Treasury, ABS data service 5432.0.65.001


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