International Trade


The Northern Territory (NT) economy is a small open economy influenced by trade, investment and movements in commodity prices and exchange rates. In this section, analysis is provided on the NT's trade balance, trade in goods and services, national and global conditions, exchange rates, as well as key trading partners and commodities relevant to the NT economy.

     


Key facts | Trade balance | Major trading partners | Goods exports | Goods importsService exports | Service imports | National trade | Global economy | Explanatory notes

The NT is a small open economy influenced by movements in commodity process, exchange rates, global economic conditions, international trade and private investment, historically around major resource and infrastructure projects.

National and interstate economic activity also influences the NT’s economy through changes to population, interstate trade, domestic tourism and the availability of workers to meet the NT’s labour requirements. Additionally, monetary policy set by the Reserve Bank of Australia impacts household consumption, business confidence and investment in the NT.

The Territory is geographically located close to major Asian economies including China, Japan, Taiwan, Malaysia and Singapore and, as expected, these are the Territory’s major trading partners. The Territory also relies on goods imports from the United States of America and the European Union, which are also identified as key trading partners.

Key facts

Trade balance 2018-19

Major trading partners

Goods exports

Goods imports

Service exports

Service imports

National trade

Global economy

Explanatory notes