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Economic Growth

↑ 1.7%

2017-18
(annual change)

Population Growth

↑0.1%

March 2018
(annual change)

Employment Growth

↓ 0.6%

October 2018
(year on year change)

Consumer Price Index

↑1.1%

September 2018
(year on year change)

State Final Demand

↓2.8%

2017-18
(year on year change)

Wage Price Index

↑1.4%

September 2018
(year on year change)

Unemployment Rate

4.6%

October 2018
(monthly trend data)

Darwin House Price

$497,500

September 2018
(median price)

The Northern Territory (NT) economy is characterised by an abundance of natural resources, a large public sector and a significant defence force presence. The NT has a relatively small open economy, which is heavily influenced by external economic conditions such as exchange rates, commodity prices, interstate and international migration flows, as well as investment in major projects. The distinctive structure of the economy is also influenced by the relative small population, which is distributed over a large and mostly remote area. Significant distances also separate the NT’s main population centres from each other, and from the rest of Australia.

The Department of Treasury and Finance monitors and reports regularly to the Treasurer, other Government agencies and the public on the performance of the NT economy. Treasury undertakes extensive analysis of associated key macroeconomic indicators and industries, as well as economic modelling and demographic projections.

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