Economic growth


This section will look at the changes that have occurred within the Northern Territory’s (NT) economy over recent years. The annual size and growth of the NT economy is measured by its gross state product (GSP). From the GSP, quarterly estimates and analysis is provided for state final demand (SFD). This includes the NT's consumption and investment spending by people and households, businesses and Governments. GSP also tells us the value of NT goods and services exports and imports (net exports).

Key facts | Economic growth | State final demand | Household consumptionPublic consumption | Private investmentPublic investmentNet exports | Explanatory notes

Over the last 15 years the NT economy has experienced an ongoing pipeline of major project investments by both the public and private sectors, stimulating the expansion of the NT economy, exports and industries (Chart 1).

Key facts

Economic growth

In 2020-21:

State final demand

In 2020-21:

In the March quarter 2022, NT’s SFD:

Household consumption

In 2020-21, household consumption:

In the March quarter 2022, household consumption:

Public consumption

In 2020-21, public consumption:

In the March quarter 2022, public consumption:

Private investment

In 2020-21, private investment:

In the March quarter 2022, private investment:

Business investment

In 2020-21, business investment:

In the March quarter 2022, business investment:

Dwelling investment

In 2020-21, dwelling investment:

In the March quarter 2022, dwelling investment:

Ownership transfer costs

In 2020-21, ownership transfer costs:

In the March quarter 2022, ownership transfer costs:

Public investment

In 2020-21, public investment:

In the March quarter 2022, public investment:

Net exports

In 2020-21, net exports:

Explanatory notes