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)2011-122012-132013-142014-152015-162016-17
Northern Territory GSP 20.5 23.0 23.5 24.0 24.4 25.4
Australia GDP 1,498.0 1,537.5 1,576.8 1,613.9 1,659.6 1,692.0

Source: ABS Cat No 5220

GSP annual growth rate,
e = estimate, percentage (%)
Long-term
Average
Jun-2007 to Jun-2017
2013-142014-152015-162016-17 2017-18 (e)​
NT GSP 3.4 2.3 1.8 1.9 3.9 2.6
Australia GDP 2.6 2.6 2.4 2.8 2.0 2.7

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 -2.3% and the maximum 12.2%; typically gross state product growth ranges between -0.1% and 10.4%. In 2016-17 gross state product increased 3.9%.Gross state product - annual data: Northern Territory gross state product has moderated significantly over the past three years to 2.7% growth in 2016-17.

Gross state product comparison

State GSP chain volume, value ($ billion)2014-152015-162016-17 2016-17 growth rate (%) 2016-17 state cont. to GDP (%)
NSW 522.1 542.2 557.8 2.9 33.0
VIC 373.0 386.1 399.0 3.3 23.6
QLD 295.6 303.3 314.6 1.8 18.6
SA 99.2 99.6 101.7 2.2 6.0
WA 237.1 239.5 233.1 -2.7 13.8
TAS 27.8 28.2 28.5 1.1 1.7
NT 24.0 24.4 25.43.9 1.5
ACT 34.5 35.8 37.54.6 2.2
AUST 1,613.9 1,659.6 1,692.1 2.0 

Source: ABS Cat No 5220

State final demand (SFD)

Chain volume measures, trend, inflation adjusted
Northern Territory, value ($ million)
Jun 18Mar 18Jun 17 Previous qtr % change Annual % change
Final consumption expenditure 4,873 4,817 4,6431.25.0
General government 1,989 1,962 1,8571.47.1
Households 2,884 2,855 2,7861.03.5
Gross fixed capital formation 2,0792,3213,025-10.4-31.3
Private 1,7171,965 2,693-12.6-36.2
Public 362 356 3321.79.0
State final demand 6,9517,1387,668-2.6-9.4

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 -4.5 per cent and the maximum 6.9 per cent; typically state final demand growth ranges between -1.9 per cent and 3.4 per cent. In the June quarter 2018, state final demand increased -2.6 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 been recovering over the past year, driven by increasing investment.

International trade

Value ($ million)Jul 18Jun 18Jul 17 Monthly % change Annual % change
Merchandise exports 449506434-11.33.5
Merchandise imports 1731671503.615.3

Source: ABS Cat No 5368

International merchandise trade: destinations and sources

Merchandise exports, value ($ million)2014-15 % share2015-16 % share2016-17% share
World 6,177  4,698  4,891 
Japan 2,733 44.2% 2,018 43.0% 1,72235.2%
China 1,349 21.8% 1,048 22.3% 1,73235.4%
Thailand 635 10.3% 370 7.9% 2435.0%
Indonesia 408 6.6% 354 7.5% 3497.1%
United States 112 1.8% 242 5.2% 1352.8%
Vietnam 158 2.6% 125 2.7% 771.6%
Republic of Korea 133 2.2% 116 2.5% 2094.3%
Canada 98 1.6% 100 2.1% 190.4%
India 120 1.9% 78 1.7% 1272.6%
Malaysia 14 0.2% 34 0.7% 450.9%
Germany 25 0.4% 27 0.6% 180.4%
Poland 41 0.7% 26 0.6% 481.0%
Philippines 23 0.4% 21 0.4% 00.0%
France 33 0.5% 15 0.3% 130.3%
Singapore 27 0.4% 10 0.2% 210.4%
Timor-Leste 14 0.2% 9 0.2% 00.0%
Mexico 10 0.2% 7 0.1% 260.5%
Belgium 18 0.3% 1 0.0% 00.0%

Source: Department of Foreign Affairs and Trade

Merchandise imports, value ($ million)2014-15 % share2015-16 % share2016-17% share
World 4,997  3,214  1,679 
Thailand 445 8.9% 906 28.2% 28517.0%
Japan 1,394 27.9% 902 28.1% 1247.4%
Singapore 600 12.0% 291 9.1% 19511.6%
China 865 17.3% 225 7.0% 1388.2%
United States 238 4.8% 165 5.1% 18210.8%
Malaysia 159 3.2% 142 4.4% 30218.0%
Republic of Korea 169 3.4% 102 3.2% 583.5%
France 144 2.9% 78 2.4% 623.7%
Germany 65 1.3% 50 1.6% 342.0%
United Kingdom 72 1.4% 48 1.5% 201.2%
Taiwan 33 0.7% 46 1.4% 80.5%
Indonesia 53 1.1% 32 1.0% 60.4%
Italy 436 8.7% 30 0.9% 653.9%
Netherlands 23 0.5% 9 0.3% 00.0%
India 9 0.2% 8 0.2% 60.4%
Belgium 4 0.1% 8 0.2% 00.0%
Norway 17 0.3% 4 0.1% 00.0%
New Zealand 5 0.1% 4 0.1% 00.0%
Canada 9 0.2% 2 0.1% 70.4%

Source: Department of Foreign Affairs and Trade

Private business investment

Value ($ million)Mar 18Dec 17Sep 17Previous Qtr % ChangeAnnual % Change
Northern Territory business investment 1,803 2,6042,334-12.6-22.8

Source: ABS Cat No 5206.0

Value ($ million)2012-13​2013-142014-152015-162016-17 Previous year % change
Northern Territory business investment 10,562 10,3359,1616,9629,07130.3

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 -18.5% and the maximum 34.4%; typically employment growth ranges between -10.4% and 19.6%. In the March quarter 2018, quarterly business investment decreased 12.6%.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 18Mar 18Jun 17 Previous qtr % change Annual % change
Actual total expenditure 1,180 1,293 1,516-8.7-22.2
Buildings and structures 1,039 1,149 1,378-9.6-24.6
Equipment, plant and machinery 134 144 138-6.9-2.9

Source: ABS Cat No 5625

Gross state product per capita

Chain volume measures, value ($)2012-132013-142014-152015-162016-17
NSW 67,703 68,069 68,95070,59771,541
VIC 62,205 62,106 62,528 63,327 63,900
QLD 62,008 62,308 62,191 63,024 63,212
SA 58,562 58,429 58,616 58,376 59,285
WA 88,515 92,072 93,605 93,918 90,799
TAS 53,10553,72754,22754,766 55,056
NT 96,264 96,994 98,682100,083103,763
ACT 87,995 87,55188,03089,840 92,436
AUST 67,02867,62368,18769,12169,402

Source: ABS Cat No 5220

Gross household income per capita

Current prices, value ($)2012-132013-142014-152015-162016-17
NSW 45,051 47,364 49,31550,389 50,814
VIC 39,941 41,716 42,211 42,549 42,990
QLD 41,654 42,149 43,103 43,309 43,516
SA 40,395 40,995 42,586 42,801 43,344
WA 50,23551,971 53,516 52,878 51,412
TAS 36,588 37,603 39,77940,614 41,047
NT 52,97856,83060,48861,71962,893
ACT 84,470 84,762 84,86287,71991,627
AUST 43,862 45,442 46,742 47,230 47,479

Source: ABS Cat No 5220

Industry sector value added

  Northern TerritoryAustralia
Chain volume, value ($ million)2015-162016-17 % change Cont. to GSP (%)2016-17 Cont. to GDP (%)
Agriculture, forestry and fishing 6426978.6 2.746,930 2.8
Mining 2,952 3,041 3.0 12.098,7595.8
Manufacturing​ 1,2741,3112.95.2 98,8845.8
Electricity, gas, water and waste services​​ 389387-0.5 1.5 41,294 2.4
Construction 2,6212,8097.2 11.0 124,5637.4
Wholesale trade​ 534 5503.02.271,133 4.2
Retail trade 7107201.4 2.8 75,594 4.5
Accommodation and food services​​ 6336492.52.640,810 2.4
Transport, postal and warehousing​ 831803-3.43.281,505 4.8
Information media and telecommunications​ 119 1233.40.5 45,183 2.7
Financial and insurance services 531 5758.3 2.3 148,244 8.8
Rental, hiring and real estate services (b) 377370-1.91.551,658 3.1
Professional, scientific and technical services 67994238.7 3.7 115,218 6.8
Administrative and support services 40249021.91.953,4773.2
Public administration and safety​ 3,0983,1381.3 12.3 93,026 5.5
Education and training​ 1,1951,205 0.84.781,718 4.8
Health care and social assistance​ 1,587 1,6043.3 6.4 119,0297.0
Arts and recreation services​ 276 298 8.0 1.2 13,924 0.8
Other services​ 392380-3.11.528,4311.7
Ownership of dwellings 2,268 2,4086.29.5 147,0808.7
Gross value added​ 21,51022,5364.8 ​88.6​1,576,460​93.2
GSP / GDP 24,46125,4273.9 1,692,092 

Source: ABS Cat No 5220

Global GDP growth rates

Selected regions / countries, p = projection, percentage (%) 2017 2018 (p)2019 (p)
World 3.7 3.93.9
Advanced economies 2.4 2.42.2
Emerging and developing economies 4.7 4.95.1
United States 2.3 2.92.7
Euro area 2.42.21.9
Germany 2.52.22.1
Japan 1.71.00.9
United Kingdom 1.7 1.41.5
China 6.96.66.4
India 6.7 7.37.5
Brazil 1.01.82.5
ASEAN-5 * 5.3 5.35.3
Australia 2.3 3.03.1
Singapore 3.6 2.92.7

* Indonesia, Malaysia, Philippines, Thailand, Vietnam
Source: IMF World Economic Outlook Update - April 2018

Last updated: 11 September 2018