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)2012-132013-142014-152015-162016-172017-18
Northern Territory GSP 23.6 23.9 24.6 25.1 25.8 26.2
Australia GDP 1,597.1 1,638.1 1,676.4 1,724.1 1,764.5 1,814.5

Source: ABS Cat No 5220

GSP annual growth rate,
e = estimate, percentage (%)
Long-term
Average
Jun 2008 to Jun 2018
2014-152015-162016-172017-18 2018-19 (e)
NT GSP 3.3 2.7 2.0 2.7 1.7 -0.2
Australia GDP 2.7 2.3 2.8 2.3 2.8 2.25

-022Source: 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 -1.4% and the maximum 12.0%; typically gross state product growth ranges between -1.3% and 10.5%. In 2017-18 gross state product decreased to 1.7%.Gross state product - annual data: Northern Territory gross state product has moderated significantly over the past three years to 1.7% growth in 2017-18.

Gross state product comparison

State GSP chain volume, value ($ billion)2015-162016-172017-18 2017-18 growth rate (%) 2017-18 state cont. to GDP (%)
NSW 561.1 578.5 593.3 2.6 32.7
VIC 393.9 409.6 424.0 3.5 23.4
QLD 322.0 328.4 339.5 3.4 18.7
SA 101.5 103.9 106.0 2.0 5.8
WA 255.5 251.1 255.9 1.9 14.1
TAS 28.9 29.3 30.3 3.4 1.7
NT 25.1 25.8 26.2 1.7 1.4
ACT 36.6 37.9 39.4 4.0 2.2
AUST 1,724.1 1,764.5 1,814.5 2.8 100.0

Source: ABS Cat No 5220

Productivity growth (market sectors, hours worked basis)

Multi-factor productivity (market sectors) (% change)2015-162016-172017-18
Northern Territory -0.52 1.58 0.13
Australia 1.19 0.86 0.51
Contribution to GVA (market sectors) (% change)2015-162016-172017-18
Northern Territory   
GVA (output) growth 0.36 3.64 0.94
Capital input 0.99 1.56 1.37
Labour input -0.11 0.50 -0.55
Multi-factor productivity -0.52 1.58 0.13
Australia   
GVA (output) growth 2.48 2.25 2.7
Capital input 0.8 0.85 0.89
Labour input 0.49 0.54 1.3
Multi-factor productivity 1.19 0.86 0.51

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

This chart indicates the contribution of hours worked, capital services, and multifactor productivity to overall output growth, over the last ten years. Capital services has been the main contributor to output growth.

3Ps - population, productivity and participation

Value (ppt)2014-152015-162016-172017-18
Gross state product (%)2.62.02.71.7
Population (15+ years) 0.75 0.48 0.62 0.56
Productivity (labour) 2.0 1.0 1.7 3.1
Participation -0.07 0.56 0.36 -1.97
Hours worked per employee 0.91 -0.48 -1.89 -0.29
Employment rate 0.24 -0.01 0.73 -0.78
Participation rate -1.22 1.05 1.52 -0.91

In 2017-18 labour productivity was the main contributor to GSP growth, supported by population age 15+ component. Participation component distracted form the economic growth.

Gross state product - expenditure components

    Northern TerritoryAustralia
GSP chain volume measure, value ($ million)2015-162016-172017-18 Annual % change2017-18 Annual % change
Final consumption expenditure 18,401 18,762 19,418 3.5 1,370,745 3.1
Government 7,463 7,721 8,091 4.8 340,929 3.9
Household 10,936 11,041 11,326 2.6 1,029,816 2.9
Total gross fixed capital formation 9,387 11,506 10,033 -12.8 440,890 4.4
Private gross fixed capital formation 8,078 9,985 8,484 -15.0 352,696 5.0
Dwelling 855 652 613 -6.0 104,407 -0.1
Ownership transfer costs 214 195 183 -6.2 30,724 0.1
Non-dwelling 5,653 7,532 6,229 -17.3 102,155 11.9
Machinery and equipment 773 723 777 7.5 73,360 7.1
Cultivated biological resources 133 203 169 -16.7 4,206 -13.8
Intellectual property products 432 681 513 -24.7 37,844 5.5
Public gross fixed capital formation 1,308 1,521 1,549 1.8 88,194 1.8
Public corporations 324 313 285 -8.9 23,457 -8.0
General government 985 1,208 1,264 4.6 64,737 5.8
State final demand 27,787 30,268 29,450 -2.7 1,811,636 3.4
International exports of goods 5,455 5,226 5,653 8.2 301,927 3.6
International exports of services 749 762 702 -7.9 84,464 2.7
International imports of goods 2,855 3,798 3,079 -18.9 296,977 6.9
International imports of services 710 671 712 6.1 89,981 5.8
Balancing item -2,787 -3,446 -3,172 -8.0 2,851 46.7
Statistical discrepancy -2,556 -2,575 -2,642 2.6 608 n/a
Gross state product 25,083 25,767 26,200 1.7 1,814,535 2.8

Source: ABS Cat No 5220

State final demand (SFD)

Chain volume measures, trend, inflation adjusted
Northern Territory, value ($ million)
Jun 19Mar 19Jun 18 Previous qtr % change Annual % change
Final consumption expenditure 4,818 4,805 4,8600.3-0.9
General government 2,022 2,008 2,0270.7-0.2
Households 2,796 2,797 2,8330.0 -1.3
Gross fixed capital formation 1,2351,3092,005-5.7-38.4
Private 8769281,604 -5.6 -45.4
Public 359381401-5.8-10.5
State final demand 6,0506,1136,865-1.0-11.9

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 -5.0 per cent and the maximum 6.9 per cent; typically state final demand growth ranges between -2.6 per cent and 3.4 per cent. In the June quarter 2019, state final demand increased -1.0 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 19Jul 18 Monthly % change Annual % change
Merchandise exports 903905501-0.280.2
Merchandise imports 142 143 172-0.7-17.4

Source: ABS Cat No 5368

International merchandise trade: destinations and sources

Merchandise exports, value ($ million)2015-16 % share2016-17 % share2017-18 % share
World 4,701 4,898  5,721 
China 1,051 22.4% 1,734 35.4% 2,141 37.4%
Japan 2,018 42.9% 1,722 35.2% 1,835 32.1%
Indonesia 354 7.5% 349 7.1% 332 5.8%
Thailand 370 7.9% 243 5.0% 284 5.0%
Republic of Korea 116 2.5% 209 4.3% 267 4.7%
United States 242 5.1% 135 2.8% 161 2.8%
India 78 1.7% 127 2.6% 157 2.7%
Malaysia 34 0.7% 45 0.9% 145 2.5%
Vietnam 125 2.7% 77 1.6% 105 1.8%
Canada 100 2.1% 19 0.4% 41 0.7%
Germany 27 0.6% 18 0.4% 35 0.6%
Poland 26 0.6% 48 1.0% 35 0.6%
Singapore 10 0.2% 26 0.5% 34 0.6%
France 15 0.3% 13 0.3% 33 0.6%
Mexico 7 0.1% 26 0.5% 32 0.6%
Timor-Leste 9 0.2% 9 0.2% 0 0.2%
Hong Kong (SAR of China) 4 0.1% 13 0.3% 9 0.2%
Taiwan 4 0.1% 7 0.1% 7 0.1%
Brunei 7 0.1% 5 0.1% 7 0.1%
Philippines 21 0.4% 1 0.0% 6 0.1%

Source: Department of Foreign Affairs and Trade

Merchandise imports, value ($ million)2015-16 % share2016-17 % share2017-18 % share
World 3,214 1,679 1,958 
Singapore 291 9.1% 195 11.6% 408 20.8%
Malaysia 142 4.4% 301 17.9% 290 14.8%
Japan 902 28.1% 124 7.4% 168 8.6%
United States 165 5.1% 182 10.8% 163 8.3%
China 225 7.0% 138 8.2% 143 7.3%
France 78 2.4% 62 3.7% 134 6.8%
Switzerland 2 0.1% 67 4.0% 129 6.6%
Republic of Korea 102 3.2% 58 3.5% 128 6.5%
Thailand 906 28.2% 285 17.0% 69 3.5%
Italy 30 0.9% 65 3.9% 49 2.5%
Germany 50 1.6% 34 2.0% 35 1.8%
United Kingdom 48 1.5% 20 1.2% 34 1.7%
Netherlands 9 0.3% 8 0.5% 30 1.5%
Taiwan 46 1.4% 8 0.5% 25 1.3%
Canada 2 0.1% 7 0.4% 21 1.1%
Indonesia 32 1.0% 6 0.4% 20 1.0%
Russian Federation 20 0.6% 12 0.7% 8 0.4%
Mauritius 0 0.0% 0 0.0% 8 0.4%
India 8 0.2% 6 0.4% 8 0.4%
Norway 4 0.1% 6 0.4% 7 0.4%

Source: Department of Foreign Affairs and Trade

Private business investment

Value ($ million)Mar 19Dec 18Mar 18 Previous qtr % change Annual % change
Northern Territory business investment 6928541,750 -19.0 -60.5

Source: ABS Cat No 5206.0

Value ($ million)2013-142014-152015-162016-172017-18 Previous year % change
Northern Territory business investment 10,385 9,209 7,001 9,139 7,688 -15.9

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 -22.5% and the maximum 34.3%; typically employment growth ranges between -15.1% and 19.7%. In the March quarter 2019, quarterly business investment decreased -19.0%.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 19Jun 18 Previous qtr % change Annual % change
Actual total expenditure 433493 1,106-12.2-60.8
Buildings and structures 275353977 -22.1 -71.9
Equipment, plant and machinery 150 141 1296.416.3

Source: ABS Cat No 5625

Gross state product per capita

Chain volume measures, value ($)2013-142014-152015-162016-172017-18
NSW 70,450 71,367 73,142 74,186 74,955
VIC 63,314 63,905 64,640 65,610 66,391
QLD 66,355 66,169 67,015 67,256 68,379
SA 59,767 59,839 59,515 60,519 61,343
WA 98,483 99,923 100,299 97,940 98,997
TAS 54,758 55,213 55,968 56,364 57,686
NT 98,796 101,258 102,760 104,677 106,191
ACT 89,129 89,810 91,753 93,140 94,831
AUST 70,32270,92171,89372,83173,267

Source: ABS Cat No 5220

Gross household income per capita

Current prices, value ($)2013-142014-152015-162016-172017-18
NSW 47,654 49,163 49,740 50,229 50,653
VIC 42,129 41,896 41,351 42,023 42,625
QLD 42,424 43,799 44,546 44,647 45,550
SA 41,271 44,835 46,777 47,762 48,564
WA 52,480 54,608 54,535 53,320 53,681
TAS 37,782 40,987 42,637 43,200 44,683
NT 57,443 61,750 63,426 63,762 64,559
ACT 85,454 85,105 85,907 88,866 91,336
AUST 45,789 47,074 47,455 47,79348,426

Source: ABS Cat No 5220

Industry sector value added

  Northern TerritoryAustralia
Chain volume, value ($ million)2016-172017-18 % change Cont. to GSP (%)2017-18 Cont. to GDP (%)
Agriculture, forestry and fishing 742 735 -0.9 2.8 45,450 2.5
Mining 3,142 3,166 0.8 12.1 138,181 7.6
Manufacturing 996 965 -3.1 3.7 105,171 5.8
Electricity, gas, water and waste services 432 437 1.2 1.7 44,741 2.5
Construction 2,903 2,945 1.4 11.2 141,036 7.8
Wholesale trade 532 556 4.5 2.1 70,095 3.9
Retail trade 706 709 0.4 2.7 77,734 4.3
Accommodation and food services 647 663 2.5 2.5 42,798 2.4
Transport, postal and warehousing 882 862 -2.3 3.3 83,707 4.6
Information media and telecommunications 118 116 -1.7 0.4 45,081 2.5
Financial and insurance services 604 628 4.0 2.4 158,361 8.7
Rental, hiring and real estate services (b) 375 378 0.8 1.4 53,626 3.0
Professional, scientific and technical services 774 792 2.3 3.0 122,953 6.8
Administrative and support services 414 440 6.3 1.7 58,409 3.2
Public administration and safety 3,133 3,156 0.7 12.0 92,783 5.1
Education and training 1,191 1,212 1.8 4.6 85,012 4.7
Health care and social assistance 1,652 1,749 5.9 6.7 126,823 7.0
Arts and recreation services 307 299 -2.6 1.1 14,582 0.8
Other services 430 445 3.5 1.7 31,982 1.8
Ownership of dwellings 2,211 2,265 2.4 8.6 151,733 8.4
Gross value added 22,19222,5201.586.01,690,25793.2
GSP / GDP 25,76726,2001.7 1,814,535 

Source: ABS Cat No 5220

Gross state product - total factor income

   Northern TerritoryAustralia
Current price, value ($ million)2016-172017-18 % change Cont. to GSP (%)2017-18 Cont. to GDP (%)
Agriculture, forestry and fishing 708 741 4.7 2.8 46,846 2.5
Compensation of employees (COE) 156 164 5.1 0.6 9,050 0.5
Gross operating surplus and mixed income (GOS / MI) 552 577 4.5 2.2 37,796 2.0
Mining 3,952 4,125 4.4 15.7 149,930 8.1
COE 932 978 4.9 3.7 27,354 1.5
GOS 3,021 3,148 4.2 11.9 122,575 6.6
Manufacturing 1,349 1,403 4.0 5.3 103,889 5.6
COE 779 806 3.5 3.1 63,404 3.4
GOS 570 596 4.6 2.3 40,485 2.2
Electricity, gas, water and waste services 561 546 -2.7 2.1 43,012 2.3
COE 83 84 1.2 0.3 13,110 0.7
GOS 478 462 -3.3 1.8 29,902 1.6
Construction 6,120 6,163 0.7 23.4 135,527 7.3
COE 2,131 2,138 0.3 8.1 73,821 4.0
GOS 3,989 4,026 0.9 15.3 61,707 3.3
Wholesale trade 444 453 2.0 1.7 68,963 3.7
COE 237 234 -1.3 0.9 43,296 2.3
GOS 207 219 5.8 0.8 25,667 1.4
Retail trade 770 775 0.6 2.9 76,956 4.2
COE 456 456 0.0 1.7 51,170 2.8
GOS 314 318 1.3 1.2 25,786 1.4
Accommodation and food services 259 259 0.0 1.0 40,265 2.2
COE 57 58 1.8 0.2 30,241 1.6
GOS 201 201 0.0 0.8 10,024 0.5
Transport, postal and warehousing 1,506 1,555 3.3 5.9 81,720 4.4
COE 669 699 4.5 2.7 42,315 2.3
GOS 837 856 2.3 3.2 39,404 2.1
Information media and telecommunications 282 277 -1.8 1.1 43,048 2.3
COE 103 103 0.0 0.4 17,842 1.0
GOS 178 173 -2.8 0.7 25,206 1.4
Financial and insurance services 646 680 5.3 2.6 157,633 8.5
COE 137 146 6.6 0.6 46,451 2.5
GOS 509 534 4.9 2.0 111,182 6.0
Rental, hire and real estate services (b) 1,534 1,629 6.2 6.2 48,707 2.6
COE 468 489 4.5 1.9 19,123 1.0
GOS 1,065 1,140 7.0 4.3 29,584 1.6
Professional, scientific and technical services 813 823 1.2 3.1 122,129 6.6
COE 693 708 2.2 2.7 90,334 4.9
GOS 120 115 -4.2 0.4 31,795 1.7
Administrative and support services 566 587 3.7 2.2 57,428 3.1
COE 512 535 4.5 2.0 50,572 2.7
GOS 54 52 -3.7 0.2 6,856 0.4
Public administration and safety 2,160 2,180 0.9 8.3 90,766 4.9
COE 1,725 1,738 0.8 6.6 74,476 4.0
GOS 436 442 1.4 1.7 16,290 0.9
Education and training 817 859 5.1 3.3 86,685 4.7
COE 676 708 4.7 2.7 77,122 4.2
GOS 141 152 7.8 0.6 9,563 0.5
Health care and social assistance 1,551 1,658 6.9 6.3 125,479 6.8
COE 1,350 1,445 7.0 5.5 109,120 5.9
GOS 201 214 6.5 0.8 16,359 0.9
Arts and recreation services 269 277 3.0 1.1 14,461 0.8
COE 175 184 5.1 0.7 8,723 0.5
GOS 94 93 -1.1 0.4 5,738 0.3
Other services 187 197 5.3 0.7 30,768 1.7
COE 85 97 14.1 0.4 23,363 1.3
GOS 102 100 -2.0 0.4 7,405 0.4
Ownership of dwellings - COE 2,414 2,379 -1.4 9.0 138,065 7.5
Tax less subsidies - all industries 1,433 1,553 8.4 5.9 186,482 10.1
GSP / GDP 25,767 26,351 2.3 100.0 1,847,675 100.0

Source: ABS Cat No 5220

Global GDP growth rates

Selected regions / countries, p = projection, percentage (%)2018 2019 (p) 2020 (p)
World 3.6 3.33.6
Advanced economies 2.21.8 1.7
Emerging and developing economies 4.5 4.4 4.8
United States 2.9 2.3 1.9
Euro area 1.8 1.3 1.5
Germany 1.5 0.8 1.4
Japan 0.8 1.0 0.5
United Kingdom 1.4 1.2 1.4
China 6.66.36.1
India 7.1 7.3 7.5
Brazil 1.1 2.1 2.5
ASEAN-5 * 5.2 5.1 5.2
Australia (April 2019) 2.8 2.12.8
Singapore (April 2019) 3.2 2.32.4

* Indonesia, Malaysia, Philippines, Thailand, Vietnam
Source: IMF World Economic Outlook Update - April 2019

Last updated: 11 October 2019

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