Economy Northern Territory

the northern territory s economy largely driven mining, concentrated on energy producing minerals, petroleum , energy , contributes around $2.5 billion gross state product , employs on 4,600 people. mining accounts 14.9% of gross state product in 2014-15 compared 7% nationally.

in recent years, largely due effect of major infrastructure projects , mine expansions, construction has overtaken mining largest single industry in territory. construction, mining , manufacturing, , government , community services, combine account half of territory s gross state product (gsp), compared third of national gross domestic product (gdp).

the economy has grown considerably on past decade, value of $15 billion in 2004-05 on $22 billion in 2014-15. in 2012-13 territory economy expanded 5.6%, on twice level of national growth, , in 2014-15 grew 10.5%, 4 times national growth rate.

between 2003 , 2006 gross state product had risen $8,670 million $11,476 million , increase of 32.4%. during 3 years 2006-2007 northern territory gross state product grew average annual rate of 5.5%. gross state product per capita in northern territory ($72,496) higher australian state or territory , higher gross domestic product per capita australia ($54,606).

the northern territory s exports 12.9% or $681 million in 2012-13. largest contributor territory s exports was: mineral fuels (largerly lng), crude materials (mainly mineral ores) , food , live animals (primarily live cattle). main international markets territory exports japan, china, indonesia, united states , korea.

imports northern territory totalled $2,887.8 million consisted of machinery , equipment manufacturing (58.4%) , petroleum, coal, chemical , associated product manufacturing (17.0%).

the principal mining operations bauxite @ gove peninsula production estimated increase 52.1% $254 million in 2007–08, manganese @ groote eylandt, production estimated increase 10.5% $1.1 billion helped newly developed mines include bootu creek , frances creek, gold estimated increase 21.7 per cent $672 million @ union reefs plant , uranium @ ranger uranium mine.

tourism important economic driver territory , significant industry in regional areas. iconic destinations such uluru , kakadu make northern territory popular destination domestic , international travellers. diverse landscapes, waterfalls, wide open spaces, aboriginal culture , wild , untamed wildlife provides opportunity visitors immerse in natural wonder northern territory offers. in 2015, territory received total of 1.6 million domestic , international visitors contributing estimated $2.0 billion local economy. holiday visitors made majority of total visitation (about 792,000 visitors).

tourism has strong links other sectors in economy including accommodation , food services, retail trade, recreation , culture, , transport.

the territory s current marketing campaign nt .