Output and income

This section shows how the Northern Territory's inputs and outputs compare to other states and territories, as well as international markets.

Gross state product (GSP) and gross domestic product (GDP)

GSP chain volume, value ($ billion)2013-142014-152015-162016-172017-182018-19
Northern Territory GSP 24.5 25.1 25.6 26.0 26.5 26.1
Australia GDP 1,671.5 1,708.2 1,755.5 1,797.0 1,849.9 1,885.0

Source: ABS Cat No 5220

GSP annual growth rate,
e = estimate, percentage (%)
10 year average2015-162016-172017-182018-19 2019-20 (f)
NT GSP 2.5 2.0 1.5 2.0 -1.5 6.3
Australia GDP 2.6 2.8 2.4 2.9 1.9 2.25

Source: ABS Cat No 5220, NT and Commonwealth Treasuries

Gross state product range, minimum / maximum and current value

Gross state product - annual data: Since 2000, the minimum annual change in Northern Territory gross state product has been -1.5% and the maximum 11.9%; typically gross state product growth ranges between -1.4% and 7.1%. In 2018-19 gross state product decreased to -1.5%.Gross state product - annual data: Northern Territory gross state product has moderated significantly over the past three years to -1.5% growth in 2018-19.

Gross state product comparison

State GSP chain volume, value ($ billion)2017-182018-19 Growth rate (%) State cont. to GDP (%)
NSW 603.1 614.4 1.9 32.6
VIC 433.0 446.1 3.0 23.7
QLD 352.2 357.0 1.4 18.9
SA 106.5 108.0 1.4 5.7
WA 258.1 260.6 1.0 13.8
TAS 30.7 31.8 3.6 1.7
ACT 26.5 40.9 3.0 2.2
NT 39.7 26.1 -1.5 1.4
Australia 1,849.9 1,885.0 1.9 100.0

Source: ABS Cat No 5220

Productivity growth (market sectors, hours worked basis)

Multi-factor productivity (market sectors) (% change)2016-172017-182018-19
Northern Territory -1.8 0.61 1.88
Australia 0.92 0.87 -0.35
Contribution to GVA (market sectors) (% change)2016-172017-182018-19
Northern Territory   
GVA (output) growth 0.96 1.55 -1.1
Capital input 2.18 1.56 0.67
Labour input 0.59 -0.62 -3.65
Multi-factor productivity -1.8 0.61 1.88
Australia   
GVA (output) growth 2.28 3.02 1.24
Capital input 0.79 0.83 0.8
Labour input 0.57 1.32 0.8
Multi-factor productivity 0.92 0.87 -0.35

Market sectors include all ANZSIC sectors except public administration and safety, education and training, health care and social assistance, and ownership of dwellings.
Source: ABS Cat No 5260.0.55.002

3Ps - population, productivity and participation

Value (percentage)2016-172017-182018-19
Gross state product (%)1.52.0-1.5
Population (15+ years) 0.8 0.6 -0.2
Productivity (labour) -0.1 3.6 1.9
Participation 0.7 -2.3 -3.2
Hours worked per employee -1.6 -0.6 0.2
Employment rate 0.7 -0.8 -0.3
Participation rate 1.5 -0.9 -3.0

Source: ABS Cat No 3101.0, 5220.0, 6202.0, Department of Trade, Business and Innovation calculations

This chart indicates that in 2018-19, labour productivity was the main contributor to GSP growth, while the participation component detracted from economic growth.

Gross state product - expenditure components

   Northern TerritoryAustralia
GSP chain volume, value ($ million)2017-182018-19 Annual % change2018-19 Annual % change
Final consumption expenditure 19,164 18,973-1.0 1,423,1382.4
Household11,10010,973-1.11,063,1051.9
Government8,0648,000-0.8360,0334.2
Total gross fixed capital formation 10,1835,619-44.8 443,826-1.4
Private gross fixed capital formation 8,5213,964-53.5 348,239-2.7
Dwelling 621590-5.0 108,353 -0.5
Ownership transfer costs 163 138 -15.326,156-15.3
Non-dwelling 6,2961,818-71.197,306-7.6
Machinery and equipment 752740-1.680,7903.8
Cultivated biological resources 167124-25.73,221-22.9
Intellectual property products 5215546.339,6345.2
Public gross fixed capital formation 1,662 1,655-0.495,5883.3
State final demand29,34724,592-16.21,866,9651.5
International exports of goods6,0768,09133.2323,7732.7
International exports of services 727 7330.895,0337.9
International imports of goods 3,3762,371-29.8300,764-0.5
International imports of services 734585-20.394,2981.1
Balancing item -3,009 -1,930-35.9-270109.7
Statistical discrepancy -2,529 -2,421n/a-5,471n/a
Gross state product 26,501 26,109-1.5 1,884,9691.9

Source: ABS Cat No 5220

State final demand (SFD)

SFD chain volume, trend ($ million)Jun 19Mar 20Jun 20 Qtr % change Annual % change
Final consumption expenditure 4,734 4,777 4,568-4.4-3.5
General government 2,041 2,099 2,093-0.32.5
Households 2,693 2,678 2,475-7.6 -8.1
Gross fixed capital formation 1,2681,1241,043-7.2-17.7
Private 817743697-6.2 -14.7
Public 451381346 -9.2 -23.3
State final demand 5,9765,8875,599-4.9-6.3

Source: ABS Cat No 5206.0

State final demand range, minimum / maximum and current value

State final demand - quarterly data: Since 2000, the minimum quarterly change in Northern Territory state final demand has been -12.3 per cent and the maximum 19.7 per cent; typically state final demand growth ranges between -4.2 per cent and 4.5 per cent. In the June quarter 2020, state final demand decreased -4.9 per cent.State final demand - levels: The level of state final demand has come off its recent high levels.State final demand yearly change has fallen over the past year, driven by a fall in investment.

International trade

Value ($ million)Jul 19Jun 20Jul 20 Monthly % change Annual % change
Merchandise exports 892986796-19.3-10.8
Merchandise imports 142628841.9-38.0

Key international merchandise trade destinations

Merchandise exports, value ($ million), moving annual totalJul 18 % shareJul 19 % shareJul 20 % share
Japan1,85532.14,48345.85,41344.1
China (excludes SARs and Taiwan)2,14837.22,53225.9 2,71922.2
Taiwan40.16186.3 1,44411.8
Korea, Republic of (South)2694.75425.55084.1
Indonesia3586.23964.04513.7
Singapore300.590.13843.1
Vietnam1202.11982.02361.9
Papua New Guinea10.0590.62231.8
Canada390.72772.82111.7
India1382.41191.21281.0
World5,771100.09,794100.012,273 100.0

Source: ABS Cat No 5368

Merchandise imports, value ($ million), moving annual totalJul 18 % shareJul 19 % shareJul 20 % share
Singapore 43822.465036.627121.5
Malaysia 29715.219410.918414.6
Switzerland (includes Liechtenstein)1437.31096.112710.1
China (excludes SARs and Taiwan) 1286.622912.91078.5
Japan 1668.51247.0997.9
United States of America1628.3603.4755.9
Taiwan261.3362.0574.5
Korea, Republic of (South) 1186.0271.5554.4
France (includes Andorra and Monaco) 693.5633.5534.2
Thailand1286.6502.8393.1
World1,953100.01,775100.01,261 100.0

Source: ABS Cat No 5368

Private business investment

Value ($ million)Jun 19Mar 20Jun 20Qtr % change Annual % change
Northern Territory business investment 658565496-12.2 -24.7

Source: ABS Cat No 5206.0

Value ($ million)2014-152015-162016-172017-182018-19 Annual % change
Northern Territory business investment 9,3377,0959,2607,7363,236 -58.2

Source: ABS Cat No 5220.0

Private business investment range, minimum / maximum and current value

Business investment - quarterly data: Since 2000, the minimum monthly change in Northern Territory business investment has been -34.3% and the maximum 67.1%; typically employment growth ranges between -17.4% and 19.4%. In the June quarter 2020, quarterly business investment decreased 12.2%.Business investment - YonY data: Business investment has moderated from its peak, but remains at elevated levels.

Private new capital expenditure

Chain volume measures - trend data, value ($ million)Jun 19Mar 20Jun 20 Previous qtr % change Annual % change
Actual total expenditure 513475371-21.9-27.7
Buildings and structures 359329283-14.0 -21.2
Equipment, plant and machinery 154 14688-39.7-42.9

Source: ABS Cat No 5625

Gross state product per capita

Chain volume measures, value ($)2014-152015-162016-172017-182018-19
NSW 72,669 74,347 75,426 76,133 76,361
VIC 65,361 66,069 67,077 67,793 68,350
QLD 68,218 69,039 69,54670,97670,662
SA 60,44160,14460,62961,613 61,965
WA 100,191100,63198,27299,955100,003
TAS 56,153 56,941 57,108 58,493 59,863
ACT 91,02692,91693,94195,34596,456
NT103,420104,885105,520107,352106,196
Australia72,26573,20173,69474,68074,873

Source: ABS Cat No 5220

Gross household income per capita

Current prices, value ($)2014-152015-162016-172017-182018-19
NSW 49,162 49,82950,367 51,037 51,739
VIC 41,906 41,504 42,230 42,846 43,283
QLD 43,798 44,574 44,851 45,657 46,506
SA 44,843 46,126 47,196 48,215 48,705
WA 54,612 54,619 53,117 53,698 53,641
TAS 40,991 42,778 43,513 44,435 45,759
ACT 85,09185,91587,82587,55088,846
NT 61,73963,54664,44865,07763,634
Australia 47,077 47,495 47,866 48,54148,098

Source: ABS Cat No 5220

Industry sector value added

  Northern TerritoryAustralia
Chain volume, value ($ million)2017-182018-19 % change % point cont2018-19% point cont
Agriculture, forestry and fishing 707700-1.00.0 40,702 2.2
Mining 3,2314,72946.45.7 160,6140.5
Manufacturing 909 9464.10.1 105,267-0.1
Electricity, gas, water and waste services 446 432-3.1-0.1 46,4420.0
Construction 3,0291,618-46.6-5.3 136,792-0.3
Wholesale trade 529 524-0.90.071,3430.0
Retail trade 706 691-2.1-0.1 78,2820.0
Accommodation and food services 638542-15.0-0.4 42,9240.0
Transport, postal and warehousing 906819-9.6-0.3 85,6020.0
Information media and telecommunications 122 1230.8 0.0 45,4660.1
Financial and insurance services 639 616-3.6-0.1 164,2460.2
Rental, hiring and real estate services (b) 384 359-6.5-0.1 55,6980.1
Professional, scientific and technical services 1,1921,155-3.1-0.1 130,7760.2
Administrative and support services 438 434-0.90.064,6310.2
Public administration and safety 3,265 3,262-0.10.0 97,9640.1
Education and training 1,226 1,2350.70.089,3210.1
Health care and social assistance 1,702 1,7201.10.1 136,5650.5
Arts and recreation services 316312 -1.30.015,833 0.0
Other services 438 4727.80.1 34,1260.1
Ownership of dwellings 2,168 2,099-3.2-0.3 156,1720.2
Gross value added 22,99122,788-0.9n/a1,758,766n/a
GSP / GDP 26,50126,109-1.5n/a1,884,969n/a

Source: ABS Cat No 5220

Gross state product - total factor income

   Northern TerritoryAustralia
Current price, value ($ million)2017-182018-19 % change Cont. to GSP (%)2018-19 Cont. to GDP (%)
Agriculture, forestry and fishing 676671-0.7 2.339,318 2.1
Compensation of employees (COE) 147 140-4.8 0.58,994 0.5
Gross operating surplus and mixed income (GOS / MI) 528 5320.81.9 30,3241.6
Mining 3,8966,59569.323.0 183,9229.8
COE 1,0471,1419.04.0 28,835 1.5
GOS 2,8505,45491.4 19.0 155,0878.2
Manufacturing 1,223 1,283 4.94.5 106,551 5.7
COE 790788-0.32.8 65,7153.5
GOS 43249514.6 1.7 40,836 2.2
Electricity, gas, water and waste services 583 5952.1 2.1 45,696 2.4
COE 80 822.5 0.3 14,040 0.7
GOS 5035142.2 1.8 31,656 1.7
Construction 6,2814,491-28.515.7 141,875 7.5
COE 2,2161,743-21.36.1 74,3273.9
GOS 4,0652,748-32.49.6 67,548 3.6
Wholesale trade456 4580.41.6 68,783 3.6
COE 248 2532.0 0.9 44,877 2.4
GOS 207 206-0.5 0.7 23,905 1.3
Retail trade 780 770-1.3 2.7 75,971 4.0
COE 462 4711.9 1.6 52,007 2.8
GOS 318298-6.3 1.0 23,965 1.3
Accommodation and food services 267 251-6.0 0.9 42,382 2.2
COE 55 53-3.6 0.2 31,162 1.7
GOS 212197-7.1 0.7 11,220 0.6
Transport, postal and warehousing 1,602 1,596-0.4 5.6 86,277 4.6
COE 670 6831.9 2.4 43,287 2.3
GOS 932912-2.1 3.2 42,990 2.3
Information media and telecommunications 286 275 -3.8 1.0 42,129 2.2
COE 105 1104.8 0.4 19,109 1.0
GOS 181 166 -8.3 0.6 23,021 1.2
Financial and insurance services 6887032.2 2.5 161,972 8.6
COE 144 130-9.7 0.5 48,285 2.6
GOS 544 5735.3 2.0 113,687 6.0
Rental, hire and real estate services (b) 1,560 1,519-2.65.353,047 2.8
COE 491 472-3.9 1.6 19,409 1.0
GOS 1,069 1,047-2.13.733,368 1.8
Professional, scientific and technical services1,0971,112 1.4 3.9 125,235 6.6
COE 727 7351.1 2.6 94,5765.0
GOS 3703771.91.3 30,660 1.6
Administrative and support services601623 3.7 2.2 64,862 3.4
COE 1,812 503-72.21.8 56,3403.0
GOS 8112149.4 0.48,523 0.5
Public administration and safety 2,253 2,3675.1 8.3 99,0405.3
COE 1,812 1,8612.7 6.581,350 4.3
GOS 441506 14.7 1.8 17,690 0.9
Education and training860 8863.0 3.190,224 4.8
COE 7107343.42.6 79,980 4.2
GOS 150 152 1.3 0.510,244 0.5
Health care and social assistance 1,632 1,7215.5 6.0 134,0877.1
COE 1,418 1,5025.9 5.2 116,6876.2
GOS 214 2192.3 0.8 17,400 0.9
Arts and recreation services 277 273-1.4 1.0 15,647 0.8
COE 1851923.8 0.79,476 0.5
GOS 9280-13.00.36,1710.3
Other services2082289.6 0.833,067 1.8
COE 90900.00.3 23,643 1.3
GOS 118 13716.1 0.59,424 0.5
GSP / GDP 27,538 28,634 4.0 100.0 1,884,969 100.0

Source: ABS Cat No 5220

Global GDP growth rates

Selected regions / countries, p = projection, percentage (%)2019 2020 2021 (p)
World 2.9-4.95.4
Advanced economies 1.7-8.04.8
Emerging and developing economies 3.7-3.05.9
United States 2.3-8.04.5
Euro area 1.3-10.26.0
Germany 0.6-7.85.4
Japan 0.7-5.82.4
United Kingdom 1.4-10.26.3
China 6.11.08.2
India 4.2-4.56.0
Brazil 1.1-9.13.6
ASEAN-5 * 4.9-2.06.2
Australia1.8-4.54.0
Singapore (April 2020)0.7-3.53.0

* Indonesia, Malaysia, Philippines, Thailand, Vietnam
Source: IMF World Economic Outlook Update - June 2020

Last updated: 14 September 2020

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