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) 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16
Northern Territory GSP 18.6 19.0 22.0 22.6 23.0 23.6
Australia GDP 1,447.5 1,500.1 1,538.6 1,578.8 1,617.0 1,661.7

Source: ABS Cat No 5220

GSP annual growth rate,
e = estimate, percentage (%)
Long-term
average
Jun 1991 to Jun 2016
2012-13 2013-14 2014-15 2015-16 2016-17 (e)​
Northern Territory GSP 3.6 15.8 2.7 2.0 2.7 1.5
Australian GDP (%) 3.3 2.6 2.6 2.4 2.8 2.5

Source: ABS Cat No 5220, NT Treasury and Commonwealth Treasury

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 -2.7% and the maximum 15.8%; typically gross state product growth ranges between -2.3% and 9.2%. In 2015-16 gross state product increased 2.7%.Gross state product - annual data: Northern Territory gross state product has moderated significantly over the past three years to 2.7% growth in 2015-16.

Gross state product comparison

State GSP chain volume, value ($ billion) 2012-13 2013-14 2014-15 2015-16 2015-16 growth rate (%) 2015-16 state cont. to GDP (%)
NSW 488.7 500.3 513.5 531.3 3.5 32.0
VIC 349.9 352.5 361.7 373.6 3.3 22.5
QLD 295.1 304.9 308.4 314.6 2.0 18.9
SA 96.5 97.3 99.2 101.1 1.9 6.1
WA 228.4 241.6 250.4 255.2 1.9 15.4
TAS 24.9 25.4 25.7 26.0 1.3 1.6
NT 22.0 22.6 23.0 23.6 2.7 1.4
ACT 34.3 34.6 35.0 36.2 3.4 2.2
AUST 1,538.6 1,578.8 1,617.0 1,661.7 2.8

Source: ABS Cat No 5220

State final demand (SFD)

Chain volume measures, trend, inflation adjusted
Northern Territory, value ($ million)
Jun 17Mar 17Jun 16 Previous qtr % change Annual % change
Final consumption expenditure 4,612 4,577 4,479 0.83.0
General government 1,854 1,852 1,8310.1 1.3
Households 2,758 2,725 2,6481.24.2
Gross fixed capital formation 3,1883,168 2,5850.623.3
Private 2,874 2,820 2,2151.929.8
Public 314 348 370-9.8-15.1
State final demand 7,7947,7477,0720.610.2

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 -5.1% and the maximum 5.8%; typically state final demand growth ranges between -1.4% and 4.2%. In the June quarter 2017, state final demand increased 0.6%.State final demand - moving annual average levels: The level of state final demand has come off its recent high levels. State final demand – YoY% change: State final demand yearly change has been negative over the past year, driven by decreasing investment.

International trade

Value ($ million) Jul 17 Jun 17 Jul 16 Monthly % change Annual % change
Merchandise exports 404411352-1.714.8
Merchandise imports 151206212-26.7-28.8

Source: ABS Cat No 5368

International merchandise trade: destinations and sources

Merchandise exports, value ($ million) 2013-14 % share 2014-15 % share 2015-16 % share
World 6,804
6,177
4,698
Japan 3,410 50.1% 2,733 44.2% 2,018 44.2%
China 1,708 25.1% 1,349 21.8% 1,048 21.9%
Thailand 424 6.2% 635 10.3% 370 10.3%
Indonesia 330 4.9% 408 6.6% 354 6.6%
United States751.1% 112 1.8% 242 2.6%
Vietnam60 0.9% 158 2.6% 125 2.2%
Republic of Korea 1241.8% 133 2.2% 116 1.9%
Canada64 0.9% 98 1.6% 100 1.8%
India 134 2.0% 120 1.9% 78 1.6%
Malaysia55 0.8% 14 0.2% 34 1.2%
Germany12 0.2% 25 0.4% 27 0.7%
Poland 21 0.3% 41 0.7% 26 0.5%
Philippines 7 0.1% 23 0.4% 21 0.4%
France13 0.2% 33 0.5% 15 0.4%
Singapore108 1.6% 27 0.4% 10 0.4%
Timor-Leste 15 0.2% 14 0.2% 9 0.3%
Mexico18 0.3% 10 0.2% 7 0.2%
Belgium20 0.3% 18 0.3% 1 0.2%
Qatar 18 0.3% 0 0.0% 0 0.2%
​Saudi Arabia 16 0.2% 10 0.2% 0 0.2%

Source: Department of Foreign Affairs and Trade

Merchandise imports, value ($ million) 2013-14 % share 2014-15 % share 2015-16 % share
World 3,483
4,997
3,214
Thailand 125 3.6% 4458.9% 906 27.9%
Japan 192 5.5% 1,394 27.9% 902 17.3%
Singapore 725 20.8% 600 12.0% 291 12.0%
China 211 6.1% 865 17.3% 225 8.9%
United States 87 2.5% 238 4.8% 165 8.7%
Malaysia92 2.6% 1593.2% 142 4.8%
Republic of Korea 92 2.6% 1693.4% 102 3.4%
France29 0.8% 144 2.9% 78 3.2%
Germany45 1.3% 65 1.3% 50 2.9%
United Kingdom 23 0.7% 72 1.4% 48 1.4%
Taiwan60 1.7% 33 0.7% 46 1.3%
Indonesia 54 1.6% 53 1.1% 32 1.1%
Italy49 1.4% 4368.7% 30 0.8%
Netherlands68 2.0% 23 0.5% 9 0.7%
India7 0.2% 9 0.2% 8 0.5%
Belgium 2 0.1% 4 0.1% 8 0.4%
Norway15 0.4% 17 0.3% 4 0.4%
New Zealand8 0.2%5 0.1% 4 0.4%
Canada30 0.9% 9 0.2% 2 0.3%

Source: Department of Foreign Affairs and Trade

Private business investment

Value ($ million) 2011-12​ 2012-13 2013-14 2014-15 2015-16 Previous year % change
Northern Territory business investment 5,181 10,374 11,447 12,207 8,007 -34.4

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 -16.8% and the maximum 33.7%; typically employment growth ranges between -8.0% and 19.8%. In the December quarter 2016, quarterly business investment increased 10.7%.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 17 May 17Jun 16 Previous qtr % change Annual % change
Actual total expenditure 1,528 1,488 1,2812.719.3
Buildings and structures 1,402 1,368 1,1552.521.4
Equipment, plant and machinery 129 120125 7.53.2

Source: ABS Cat No 5625

Gross state product per capita

Chain volume measures, value ($) 2011-12 2012-13 2013-14 2014-15 2015-16
NSW 66,030 66,427 67,069 67,886 69,266
VIC 62,001 61,591 60,938 61,440 62,308
QLD 63,788 64,028 65,073 64,949 65,416
SA 57,620 58,045 58,053 58,664 59,371
WA 90,329 92,125 95,246 97,312 98,012
TAS 49,053 48,636 49,362 49,864 50,327
NT 81,654 91,932 93,027 94,709 96,906
ACT 89,995 90,700 90,179 90,341 92,173
AUST 66,620 67,138 67,810 68,486 69,421

Source: ABS Cat No 5220

Gross household income per capita

Current prices, value ($) 2011-12 2012-13 2013-14 2014-15 2015-16
NSW 44,488 45,238 48,110 49,191 50,806
VIC 39,378 40,279 41,637 42,062 43,259
QLD 41,988 41,591 42,275 43,317 43,851
SA 39,877 40,378 41,804 43,518 43,959
WA 48,879 49,805 51,474 51,979 50,146
TAS 36,458 36,200 37,671 39,920 40,665
NT 47,839 47,687 51,847 53,902 54,796
ACT 80,151 84,348 80,961 79,417 80,554
AUST 43,288 43,885 45,589 46,472 47,269

Source: ABS Cat No 5220

Industry sector value added


Northern Territory Australia
Chain volume, value ($ million) 2014-15 2015-16 % change Cont. to GSP (%) 2015-16 Cont. to GDP (%)
Agriculture, forestry and fishing 600 582 -3.0 2.5 36,650 2.2
Mining 2,946 3,046 3.4 12.9 114,896 6.9
Manufacturing​ 785 714 -9.0 3.0 99,439 6.0
Electricity, gas, water and waste services​​ 430 437 1.6 1.8 42,832 2.6
Construction 4,152 4,186 0.8 17.7 134,182 8.1
Wholesale trade​ 354 349 -1.4 1.5 66,477 4.0
Retail trade 631 628 -0.5 2.7 72,050 4.3
Accommodation and food services​​ 385 384 -0.3 1.6 39,019 2.3
Transport, postal and warehousing​ 1,112 1,215 9.3 5.1 78,308 4.7
Information media and telecommunications​ 249 287 15.3 1.2 46,916 2.8
Financial and insurance services 561 574 2.3 2.4 146,179 8.8
Rental, hiring and real estate services (b) 1,055 1,141 8.2 4.8 49,831 3.0
Professional, scientific and technical services 776 800 3.1 3.4 103,568 6.2
Administrative and support services 574 555 -3.3 2.3 44,927 2.7
Public administration and safety​ 2,288 2,441 6.7 10.3 90,758 5.5
Education and training​ 769 773 0.5 3.3 78,463 4.7
Health care and social assistance​ 1,439 1,517 5.4 6.4 112,317 6.8
Arts and recreation services​ 260 268 3.1 1.1 13,606 0.8
Other services​ 341 334 -2.1 1.4 29,852 1.8
Ownership of dwellings 2,342 2,364 0.9 10.0 147,959 8.9
Gross value added​ 22,050 22,595 2.5 ​95.5 ​1,548,227 ​93.2
GSP / GDP 23,032 23,648 2.7
1,661,739

Source: ABS Cat No 5220

Global GDP growth rates

Selected regions / countries, p = projection, percentage (%) 2015 2016 2017 (p) 2018 (p)
World 3.2 3.1 3.5 3.6
Advanced economies 2.11.72.02.0
Emerging and developing economies 4.0 4.1 4.5 4.8
United States 2.61.6 2.3 2.5
Euro area 2.01.7 1.7 1.6
Germany 1.5 1.8 1.6 1.5
Japan 0.51.01.2 0.6
United Kingdom 2.21.82.0 1.5
China 6.91.41.92.0
India 7.66.97.2 7.7
Brazil -3.8 -3.60.21.7
ASEAN-5 * 4.8 4.95.0 5.2
Australia 2.4nanana
Singapore 2.0nanana

* Indonesia, Malaysia, Philippines, Thailand, Vietnam
Source: IMF World Economic Outlook Update - October 2017

Last updated: 12 October 2017