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 2.1
Australia GDP 2.7 2.3 2.8 2.3 2.8 3.0

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 -1.4% 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 product2.6%2.0%2.7%1.7%
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

The contribution of productivity, population and participation to the NT gross state product, over the last three years. Productivity has been the main contributor to GSP growth, and population has been the main detractor.

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)
Sep 18 Jun 18 Sep 17 Previous qtr % change Annual % change
Final consumption expenditure 4,856 4,868 4,778-0.21.6
General government 2,011 2,027 1,983 -0.8 1.4
Households 2,845 2,841 2,795 0.1 1.8
Gross fixed capital formation 1,7752,0392,910-12.9-39.0
Private 1,368 1,640 2,542 -16.6 -46.2
Public 407 399 368 2.0 10.6
State final demand 6,6316,9067,689-4.0-13.8

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 -2.4 per cent and 3.4 per cent. In the September quarter 2018, state final demand decreased 4.0 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 been recovering over the past year, driven by increasing investment.

International trade

Value ($ million) Dec 18 Nov 18 Dec 17 Monthly % change Annual % change
Merchandise exports 671 892 538 -24.8 24.7
Merchandise imports 127 135 126 -5.9 0.8

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% 1,722 35.2%
China 1,349 21.8% 1,048 22.3% 1,732 35.4%
Thailand 635 10.3% 370 7.9% 243 5.0%
Indonesia 408 6.6% 354 7.5% 349 7.1%
United States 112 1.8% 242 5.2% 135 2.8%
Vietnam 158 2.6% 125 2.7% 77 1.6%
Republic of Korea 133 2.2% 116 2.5% 209 4.3%
Canada 98 1.6% 100 2.1% 19 0.4%
India 120 1.9% 78 1.7% 127 2.6%
Malaysia 14 0.2% 34 0.7% 45 0.9%
Germany 25 0.4% 27 0.6% 18 0.4%
Poland 41 0.7% 26 0.6% 48 1.0%
Philippines 23 0.4% 21 0.4% 0 0.0%
France 33 0.5% 15 0.3% 13 0.3%
Singapore 27 0.4% 10 0.2% 21 0.4%
Timor-Leste 14 0.2% 9 0.2% 0 0.0%
Mexico 10 0.2% 7 0.1% 26 0.5%
Belgium 18 0.3% 1 0.0% 0 0.0%

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% 285 17.0%
Japan 1,394 27.9% 902 28.1% 124 7.4%
Singapore 600 12.0% 291 9.1% 195 11.6%
China 865 17.3% 225 7.0% 138 8.2%
United States 238 4.8% 165 5.1% 182 10.8%
Malaysia 159 3.2% 142 4.4% 302 18.0%
Republic of Korea 169 3.4% 102 3.2% 58 3.5%
France 144 2.9% 78 2.4% 62 3.7%
Germany 65 1.3% 50 1.6% 34 2.0%
United Kingdom 72 1.4% 48 1.5% 20 1.2%
Taiwan 33 0.7% 46 1.4% 8 0.5%
Indonesia 53 1.1% 32 1.0% 6 0.4%
Italy 436 8.7% 30 0.9% 65 3.9%
Netherlands 23 0.5% 9 0.3% 0 0.0%
India 9 0.2% 8 0.2% 6 0.4%
Belgium 4 0.1% 8 0.2% 0 0.0%
Norway 17 0.3% 4 0.1% 0 0.0%
New Zealand 5 0.1% 4 0.1% 0 0.0%
Canada 9 0.2% 2 0.1% 7 0.4%

Source: Department of Foreign Affairs and Trade

Private business investment

Value ($ million) Sep 18 Jun 18 Sep 17 Previous qtr % change Annual % change
Northern Territory business investment 1,164 1,438 2,350 -19.1 -50.5

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 -19.1% and the maximum 34.3%; typically employment growth ranges between -11.7% and 19.7%. In the September quarter 2018, quarterly business investment decreased 19.1%.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) Sep 18 Jun 18 Sep 17 Previous qtr % change Annual % change
Actual total expenditure 917 1,111 1,481-17.5-38.1
Buildings and structures 780 978 1,334 -20.2 -41.5
Equipment, plant and machinery 126 133 147 -5.3 -14.3

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)1561645.10.69,0500.5
Gross operating surplus and mixed income (GOS / MI)5525774.52.237,7962.0
Mining3,9524,1254.415.7149,9308.1
COE9329784.93.727,3541.5
GOS3,0213,1484.211.9122,5756.6
Manufacturing1,3491,4034.05.3103,8895.6
COE7798063.53.163,4043.4
GOS5705964.62.340,4852.2
Electricity, gas, water and waste services561546-2.72.143,0122.3
COE83841.20.313,1100.7
GOS478462-3.31.829,9021.6
Construction6,1206,1630.723.4135,5277.3
COE2,1312,1380.38.173,8214.0
GOS3,9894,0260.915.361,7073.3
Wholesale trade4444532.01.768,9633.7
COE237234-1.30.943,2962.3
GOS2072195.80.825,6671.4
Retail trade7707750.62.976,9564.2
COE4564560.01.751,1702.8
GOS3143181.31.225,7861.4
Accommodation and food services2592590.01.040,2652.2
COE57581.80.230,2411.6
GOS2012010.00.810,0240.5
Transport, postal and warehousing1,5061,5553.35.981,7204.4
COE6696994.52.742,3152.3
GOS8378562.33.239,4042.1
Information media and telecommunications282277-1.81.143,0482.3
COE1031030.00.417,8421.0
GOS178173-2.80.725,2061.4
Financial and insurance services6466805.32.6157,6338.5
COE1371466.60.646,4512.5
GOS5095344.92.0111,1826.0
Rental, hire and real estate services (b)1,5341,6296.26.248,7072.6
COE4684894.51.919,1231.0
GOS1,0651,1407.04.329,5841.6
Professional, scientific and technical services8138231.23.1122,1296.6
COE6937082.22.790,3344.9
GOS120115-4.20.431,7951.7
Administrative and support services5665873.72.257,4283.1
COE5125354.52.050,5722.7
GOS5452-3.70.26,8560.4
Public administration and safety2,1602,1800.98.390,7664.9
COE1,7251,7380.86.674,4764.0
GOS4364421.41.716,2900.9
Education and training8178595.13.386,6854.7
COE6767084.72.777,1224.2
GOS1411527.80.69,5630.5
Health care and social assistance1,5511,6586.96.3125,4796.8
COE1,3501,4457.05.5109,1205.9
GOS2012146.50.816,3590.9
Arts and recreation services2692773.01.114,4610.8
COE1751845.10.78,7230.5
GOS9493-1.10.45,7380.3
Other services1871975.30.730,7681.7
COE859714.10.423,3631.3
GOS102100-2.00.47,4050.4
Ownership of dwellings - COE2,4142,379-1.49.0138,0657.5
Tax less subsidies - all industries1,4331,5538.45.9186,48210.1
GSP / GDP25,76726,3512.3100.01,847,675100.0

Source: ABS Cat No 5220

Global GDP growth rates

Selected regions / countries, p = projection, percentage (%)2018 2019 (p) 2020 (p)
World 3.7 3.53.6
Advanced economies 2.3 2.01.7
Emerging and developing economies 4.6 4.5 4.9
United States 2.9 2.51.8
Euro area 1.81.6 1.7
Germany 1.5 1.3 1.6
Japan 0.9 1.1 0.5
United Kingdom 1.4 1.5 1.6
China 6.6 6.2 6.2
India 7.3 7.5 7.7
Brazil 1.32.5 2.2
ASEAN-5 * 5.2 5.1 5.2
Australia (October 2018)3.2 2.8n/a
Singapore (October 2018)2.9 2.5n/a

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

Last updated: 15 February 2019